Family Office Senior Associate (FOSA)

Bank of America • Dallas, NY

12h • Onsite

About The Position

At Bank of America, the company is guided by a common purpose to help make financial lives better through the power of every connection, driving Responsible Growth and delivering for clients, teammates, communities, and shareholders. They are committed to being an inclusive workplace, attracting and developing exceptional talent, supporting teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and making an impact in communities. Bank of America maintains an in-office culture with specific attendance requirements, allowing flexibility based on role-specific considerations. The Family Office Senior Associate (FOSA) is primarily responsible for product fulfillment, day-to-day account administration, and analytical support. This role involves preparing account summaries and performance reports, collecting information for client recommendations, organizing client data, and generating reports and analysis. The FOSA understands products and services for high net worth clients, develops and executes client service plans, and manages client relationship operations under senior relationship managers' supervision. The Family Office Solutions platform uses client data from various custodial platforms to feed into a vendor platform for performance measurement analytics and accounting reports. This role focuses on product fulfillment and daily service administration for solutions serving the Ultra High Net Worth / Family Office market. The Family Office Servicing Specialist is a dedicated client resource, participating in onboarding and supporting ongoing client needs. This critical role ensures best-in-class service delivery, with direct client engagement to an assigned portfolio and frequent communication with client advisory teams, including client advisors, client managers, portfolio managers, trust officers, estate planners, office managers, executive assistants, and CFOs.

Requirements

• Bachelor's Degree or higher in Accounting/Finance, Math or Statistics or equivalent experience
• 5+ years of accounting and institutional and/or high net worth client service experience
• Experience in monthly/quarterly close processes, work paper preparation, account reconciliation, journal entry preparation and with accounting entries to formulate investment performance calculation
• Proficiency with Excel, Work, PowerPoint and other similar applications
• Team player with ability to work independently and excellent interpersonal and collaboration skills to interact with a broad range of stakeholders, partners, and personalities
• Ability to build close working relationships with support groups including specialized vendors, technology and operations
• Strong analytical and organizational skills
• Ability to prioritize and manage multiple tasks simultaneously
• Demonstrates strong leadership qualities and consistently shows initiative
• Strong delegation skills and ability to manage up
• Process improvement expertise
• Ability to troubleshoot complex performance problems
• High attention to detail
• Client Management
• Client Solutions Advisory
• Customer and Client Focus
• Financial Processing
• Relationship Building
• Active Listening
• Attention to Detail
• Data and Trend Analysis
• Financial Accounting
• Presentation Skills
• Account Management
• Decision Making
• Oral Communications
• Problem Solving
• Written Communications
• Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Nice To Haves

• Fund accounting experience
• 2-years of Archway ATWeb experience
• Knowledge of Bloomberg, SQL, Tableau, SharePoint
• Level 1 or 2 CFA, CIPM, or Series 7 desirable

Responsibilities

• Qualified subject matter expert for Entity Accounting, Performance Measurement and Reporting and Bill Pay
• Conduct proactive quality assurance and problem resolution; provide ongoing assistance to clients and their advisors with respect to performance analytics and accounting reports
• Reporting support including the production and review of cyclical and ad-hoc Bill Pay, Performance and Accounting
• In partnership with Family Office sales, lead an annual Family Office solution review with client team and client
• Ensure data quality and process excellence
• Performance processes will be monitored and verified as appropriate with prompt resolution for all exception items
• Frequent contact with clients and key stakeholders to research and to resolve performance data issues
• Lead and possess intimate knowledge of team functions and the broader organization
• As a subject matter expert, handle elevated items and ad hoc issues while delivering superior customer service, promote best practices across the group, and help implement efficiency ideas and project enhancements
• Facilitate as needed web-ex/in-person meetings on platform capabilities
• Serve as liaison between business/technology partners and other team
• Participate in pilots/lead testing initiatives for project
• Contribute to design of new report interfaces and enhanced view
• Communicate performance/tool enhancements/known issues/best practices/etc. to team
• Quality check the work performed by team & external vendor
• Oversee issue tracking and/or resolution
• Prepare and update policies and procedure
• Actively lead/participate in Annual Procedure Reviews and Audits

Benefits

• Industry-leading benefits
• Access to paid time off
• Resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve
• Discretionary incentive eligible (annual discretionary plan)

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 5,001-10,000 employees