Family Office Senior Associate (FOSA)

Bank of America • New York, NY

21h • Onsite

About The Position

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Family Officer Senior Associate (FOSA) - Primarily responsible for product fulfillment and day-to-day account administration in and analytical support. Prepares account summaries and performance reports for clients. Collects information to assist in developing client recommendations, collecting and organizing client data and generating reports and analysis. Understands the products and services offered to high net worth clients. Develop client service plans and ensure that they are maintained and executed. Responsible for all client relationship operations and activities under the supervision of senior relationship managers. The Family Office Solutions platform houses client data from various custodial platforms, which feed client account activity into a vendor platform used for completing performance measurement analytics and accounting reports. This role is responsible for product fulfillment and day-to-day service administration for one or more solutions developed to serve the Ultra High Net Worth / Family Office market. The Family Office Servicing Specialist is a dedicated resource to clients and participates in the on-boarding process and works with the clients and their advisors to support ongoing needs. The Family Office Solutions Associate is a critical role ensuring the client receives best-in-class service delivery. The role has direct client engagement to an assigned portfolio of clients and communicates frequently with members of the client's advisory team, 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
• Knowledge of Performance Measurement/Reporting
• 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
• Must have strong analytical and organizational skills
• Must be able to prioritize and manage multiple tasks simultaneously
• Demonstrates strong leadership qualities and consistently shows initiative
• Must possess strong delegation skills and ability to manage up
• Process improvement expertise
• Ability to troubleshoot complex performance problems
• High attention to detail

Nice To Haves

• fund accounting experience preferred
• 2-years of Archway ATWeb experience preferred
• Knowledge of Bloomberg, SQL, Tableau, SharePoint a plus
• 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
• eligible to participate in the annual discretionary plan

What This Job Offers

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