Philanthropic Officer (PO), Private Bank
About The Position
The Philanthropic Solutions group at Bank of America’s Private Bank delivers expertise and a comprehensive suite of investment and management services to help individuals and institutions build and sustain their charitable missions. Serving in a trustee or agency capacity for private foundations, endowments, split-interest trusts and donor-advised funds, the Philanthropic Solutions team provides strategic advice and planning to help clients fulfill their mission more effectively, asset management services and solutions to help align and achieve financial and charitable objectives, and administration and record-keeping services to simplify donors’ administrative burden. Responsible for performing service and fulfillment activities to meet Philanthropic Solutions client needs and expectations. Philanthropic product set expert who acts as an additional point of contact for clients and/or as a backup for client-facing relationship managers. Provides high level administrative support to client facing relationship managers including day to day transaction processing. These duties include but are not limited to UPIA reviews, administrative account reviews/exceptions, end-to-end processing for new account on-boarding and account splits and other compliance and regulatory matters as assigned. Also responsible for identifying new business opportunities from existing book of business. Non-licensed associate.
Requirements
- BA/BS Degree Desired
- 2-5 years of institutional philanthropic, non-profit administration, fiduciary banking, or financial services experience
- Passion for the non-profit sector and charitable engagement
- Superb and effective communication skills
- Excellent ability to work in a fast-paced and collaborative team environment as well as independently problem-solve and make decisions that impact clients and partners
- Strong analytical skills with high attention to detail and accuracy
- Excellent organizational, prioritization, and time management skills
- Ability to take initiative and proactively follow up and follow through
- Ability to operate with a high level of autonomy
- Develop strong interpersonal alliances and foster partnerships among team members and business partners, supporting an enterprise view to achieve GWIM objectives.
- Significant knowledge of the legal, tax, investment, and compliance aspects of fiduciary administration
- Microsoft Office Suite knowledge required
- Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Nice To Haves
- Experience working with MicroEdge Gifts and PACE systems
- Relationship management experience working directly with non-profit organizations, boards and/or UHNW clients
- Established knowledge of all types of charitable entities, trust, fiduciary law, and federal regulations
- Charitable Trust Administration experience
Responsibilities
- Performing service and fulfillment activities to meet Philanthropic Solutions client needs and expectations.
- Acting as a Philanthropic product set expert, an additional point of contact for clients, and/or a backup for client-facing relationship managers.
- Performing administrative duties for a breadth of philanthropic giving vehicles.
- Providing high-level administrative support to client-facing relationship managers, including day-to-day transaction processing, daily money movement activities, account setup and ongoing administrative reviews, system updates, grantmaking administration, and other compliance and regulatory matters.
- Proactively communicating via phone and e-mail directly with clients, Private Bank partners, various lines of business, and external resources (accountants or attorneys) related to client relationships.
- Reviewing and analyzing trust/financial information, reacting accordingly, and prioritizing as appropriate.
- Providing recommendations to leadership on products and service requests that may enhance client satisfaction and experience.
- Identifying new business and deepening opportunities from the existing book of business.
Benefits
- Access to paid time off
- Resources and support to employees
- Discretionary incentive eligible
- Eligible to participate in the annual discretionary plan
- Industry-leading benefits
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
