At BNY, a commitment to service and citizenship has guided our philanthropy for over two centuries. Our focus on advancing an Inclusive Economy is exemplified by our social mobility work with Breaking Barriers since 2019, dedicated to supporting refugees in the UK as they overcome barriers to employment. This partnership has evolved over time but consistently reflects our core values.
2020: Laying the foundation
We began by learning about the challenges refugees face, such as employment gaps, unrecognized qualifications, and limited UK work experience. Many highly skilled refugees are forced to start over in entry-level jobs, often underpaid and overqualified. Recognizing these obstacles, we funded Breaking Barriers’ programme to support underemployed refugees, helping 163 Breaking Barriers clients in 2020 alone.
BNY also engaged employees in volunteering efforts:
- Delivered a networking masterclass to help refugees improve their confidence.
- We arranged one-on-one meetings between refugees and BNY volunteers in similar professions.
- A panel event titled “Hope, Aspiration, and Perseverance” offered refugee clients valuable insights into UK job roles and provided networking opportunities.
2021-2022: Gaining momentum
Building on early success, we expanded our support to unemployed refugees through Breaking Barriers’ core services, offering personalized 1:1 employment advice, of which the latter programme was accessed by 306 refugee clients between March 2021 – March 2022.
BNY employees contributed by:
- Delivering a remote, six-week IT and Numeracy course, with four employees volunteering as 1:1 teaching assistants.
- Volunteering as mentors, sharing career insights to help refugees understand sectors such as HR, business management, and IT.
In 2022, Breaking Barriers expanded to Manchester, a strategic growth location for BNY, allowing us to engage more employees and foster collaborations with 25 other businesses in the region.
2023-2024: Innovating together
In the last two years, we’ve continued funding Breaking Barriers’ wider employment and education programmes, which in their latest financial year (June 2023 – May 2024), supported 1,247 refugee clients. This is the highest number of refugee clients the organisation has supported in their history.
We also continued facilitating IT and Numeracy courses, but also introduced new initiatives:
- BNY volunteers helped run three job fairs.
- Group sessions were offered to refugees aspiring to enter financial services, with tailored CV support and sector insights.
- We hosted a fireside chat featuring BNY’s Head of International, Hani Kablawi, Breaking Barriers’ then-CEO, Matt Powell, and other leaders. Refugee participants shared stories, shedding light on challenges faced in rebuilding careers.
- Our partnership began pivoting towards ‘Financial Inclusion,’ aiming to expand access to knowledge in the finance sector for refugee clients.
- Seven employees became long-term volunteers, with five mentoring younger refugees interested in careers at BNY.
We also helped pilot Breaking Barriers’ speed mentoring initiative, providing 1:1 guidance to refugees on accessing the financial services sector.
Reflections from Breaking Barriers