Settlement Officer II - Estate Settlement

Bank of America•Richmond, VA

1d•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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! The Settlement Officer is accountable for facilitating, managing, and settling estate and trust terminations that require expertise and knowledge of fiduciary rules and regulations in a fast-paced, high-volume environment. The Settlement Officer assigns tasks to Specialized Fiduciary Administrators, monitors progress and approves completed work. Responsible for coaching, developing, and mentoring administrators and junior level officers within the Estate Settlement team. Works closely while simultaneously building and maintaining relationships with internal business partners including but not limited to: Client Team, Financial Advisors, Office of the Chief Fiduciary, Administrative Resource Team (ART), Audit, Compliance, Fiduciary Tax Services, Specialty Asset Management (SAM), Trust Operations, Fiduciary Tax Services (Tax), Portfolio Managers, etc., as well as external parties (Attorneys, CPAs, and Fiduciary Accountants). Monitors the settlement process and task completion to ensure accurate, timely and efficient administration, and to proactively manage business risk. Maintains high quality communications with beneficiaries and internal partners, with a primary focus on timely execution and client satisfaction. Ability to proactively identify and resolve issues. Acts as a technical resource to colleagues within and outside of Estate Settlement team. May be called upon to handle tasks delegated by Estate Settlement Manager or Director.

Requirements

BS/BA degree or equivalent experience
Trust, estate, and/or tax experience preferred
Strong communication and organizational skills
Ability to work in a fast-paced environment where multi-tasking and prioritization is a necessity
Works well as an individual contributor and member of a team
Proficient use of Microsoft Office
Ability to learn and apply new technology and systems
Account Management
Customer and Client Focus
Oral Communications
Risk Management
Written Communications
Collaboration
Decision Making
Issue Management
Prioritization
Problem Solving
Active Listening
Attention to Detail
Client Management
Process Simplification
Referral Identification
High School Diploma / GED / Secondary School or equivalent

Nice To Haves

JD or Professional designation in paralegal studies preferred

Responsibilities

Manages and settles estates and/or terminating trusts requiring a degree of technical expertise and knowledge in estate and trust administration.
Coordinates with and assigns tasks to Settlement Administrators, monitors progress and approves completed work.
Assists manager and senior officers in coaching, developing, and mentoring associates within Settlement team.
Coordinates information and activities with external business partners and internal business and support partners to ensure accurate, timely and efficient administration of assigned cases, and to manage business risk.
Maintains high quality, professional communications with beneficiaries and co-fiduciaries, with focus on client satisfaction and asset retention.
Facilitates, manages, and settles estate and trust terminations that require expertise and knowledge of fiduciary rules and regulations in a fast-paced, high-volume environment.
Assigns tasks to Specialized Fiduciary Administrators, monitors progress and approves completed work.
Coaches, develops, and mentors administrators and junior level officers within the Estate Settlement team.
Works closely while simultaneously building and maintaining relationships with internal business partners including but not limited to: Client Team, Financial Advisors, Office of the Chief Fiduciary, Administrative Resource Team (ART), Audit, Compliance, Fiduciary Tax Services, Specialty Asset Management (SAM), Trust Operations, Fiduciary Tax Services (Tax), Portfolio Managers, etc., as well as external parties (Attorneys, CPAs, and Fiduciary Accountants).
Monitors the settlement process and task completion to ensure accurate, timely and efficient administration, and to proactively manage business risk.
Maintains high quality communications with beneficiaries and internal partners, with a primary focus on timely execution and client satisfaction.
Proactively identifies and resolves issues.
Acts as a technical resource to colleagues within and outside of Estate Settlement team.
May be called upon to handle tasks delegated by Estate Settlement Manager or Director.