Fostering transparency around data privacy at BNY.
At BNY, we view data privacy as an opportunity to earn and safeguard trust. We are committed to acting in an ethical and lawful manner when it comes to handling the personal information of our clients, employees and other stakeholders.
Data privacy is recognized in our Code of Conduct, which sets firmwide expectations for all employees and business areas.
As the regulatory, legal and compliance landscape evolves, we mature our global data privacy program so that it supports our strategic enterprise goals, leverages automation to drive efficiencies, and takes a holistic approach to data privacy risk management.
Data privacy is the right to maintain control over how your personal information is collected, who can process that personal information and for what purposes.
Personal information includes any information which, on its own or in combination with other available information, could be used to identify a living individual, particular device or household.
BNY has a data privacy and ethics framework that enables purpose-driven growth in line with our strategic pillars and principles, and in compliance with laws and regulations. Our framework helps ensure fair data processing outcomes for our clients and employees, and enhances trust in our brand.
Doing the right thing when it comes to processing personal information allows us to be more for our clients, run our company better and power our culture.
Kirsten Mycroft
Chief Privacy and Data Ethics Officer
Technological developments present opportunities for financial institutions to improve products and services, enhance client experiences, and better manage risks. We invest in data privacy to help increase protections over personal information while enabling growth and efficiences for our clients.
We incorporate data privacy by design from the outset as we build and deliver new and enhanced capabilities for our clients. This allows us to more effectively anticipate and mitigate privacy risks before they materialize.
BNY actively monitors data privacy developments facing our industry and proactively adjusts our data privacy strategy and controls in response.
The Global Privacy Office provides regular training for employees and promotes awareness of data privacy-related risks and risk management procedures. All BNY employees play a critical role in protecting personal information.
BNY's data privacy program is led by our Global Privacy Office, which is responsible for the development and implementation of BNY's privacy strategy, framework and supporting policies, procedures and controls. Our data privacy framework is aligned to leading international privacy standards and follows the Three Lines of Defense model utilized across the financial services industry.
The Global Privacy Office (GPO), led by BNY’s Chief Privacy Officer, leads and operationalizes the enterprise data privacy strategy and framework, and supports the business in understanding and managing data privacy risks.
The GPO also drives global regulatory change implementation and operates enterprisewide data privacy management tools.
The Global Privacy Compliance (GPC) function, which includes BNY’s Group Data Protection Officer, supports the first line in demonstrating compliance through its independent challenge and monitoring activities.
Our Internal Audit function completes independent reviews of data privacy compliance across BNY, ensuring action plans are agreed and tracked to remediate privacy issues identified during audits.
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