Philanthropic Officer (PO), Private Bank

Bank of America•Waltham, MA

8d•Onsite

About The Position

The Philanthropic Officer (PO) in the Private Bank is responsible for performing service and fulfillment activities to meet Philanthropic Solutions client needs and expectations. This role acts as a Philanthropic product set expert, serving as an additional point of contact for clients and/or as a backup for client-facing relationship managers. The PO provides high-level administrative support to client-facing relationship managers, including day-to-day transaction processing. Duties encompass UPIA reviews, administrative account reviews/exceptions, end-to-end processing for new account onboarding and account splits, and other compliance and regulatory matters as assigned. Additionally, the role is responsible for identifying new business opportunities from the existing book of business. This is a non-licensed associate 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.

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 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 skills
Ability to operate with a high level of autonomy
Develop strong interpersonal alliance and fosters partnerships among team members and business partners and supports enterprise view to support GWIM objectives.
Significant knowledge of the legal, tax, investment, and compliance aspects of fiduciary administration
Microsoft Office Suite knowledge required
Skills : Account Management Attention to Detail Collaboration Data Collection and Entry Prioritization Active Listening Business Acumen Client Experience Branding Relationship Building Financial Analysis Financial Processing Recording/Organizing Information Referral Management
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

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.
Performs administrative duties for a breadth of philanthropic giving vehicles.
Provides high level administrative support to client facing relationship managers including day to day transaction processing.
These duties include but are not limited to daily money movement activities, account set up and ongoing administrative reviews, system updates, grantmaking administration, and other compliance and regulatory matters as assigned.
Proactively communicates via phone and e-mail directly with clients, Private Bank partners and various lines of business, as well as external resources - accountants or attorneys, who are related to the client relationships as part of day-to-day management.
Reviews and analyzes trust/financial information, reacts accordingly, and prioritizes as appropriate.
Provides recommendations to leadership of products and service requests that may enhance client satisfaction and experience.
Also responsible for identifying new business and deepening opportunities from existing book of business.