An outer ring assembly adapted for a one way clutch bearing assembly is provided. The outer ring assembly includes two separately formed rings. A first outer ring includes a groove adapted to receive a plurality of locking wedges, and a second outer ring includes an outer race adapted to support a plurality of rolling elements. The outer ring assembly is installed with a one way clutch bearing assembly including an inner ring defining both an inner race adapted to support rolling elements, and a plurality of ramps axially spaced from the inner race.