Settlement Officer II (SOII) , Estate

Bank of America•Dallas, TX

2d•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! Settlement Officer II (SO II), Estate Settlement, Private Banking, Dallas, TX - Accountable for managing and settling the smaller and/or less complicated estates and/or terminating trusts requiring a lesser degree of technical expertise and knowledge. Assigns tasks to the Settlement Assistants, monitors progress and approves completed work. Assists senior officers in coaching, developing, and mentoring assistants within Settlement team. Responsible for coordinating information and activities with external business partners (Attorneys, CPAs, and Fiduciary Accountants), and internal support partners (Tax, Compliance, SAM, ART), to ensure accurate, timely and efficient administration, and to manage business risk. Maintains high quality communications with beneficiaries, with focus on client satisfaction and asset retention. Position Description : The Settlement Officer is accountable for facilitating, managing, and settling 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 Trust Settlement team. Works closely while simultaneously building and maintaining relationships with internal business partners including but not limited to: Client Team, 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 Trust Settlement team. May be called upon to handle tasks delegated by Trust Settlement Manager or Director.

Requirements

BS/BA degree or equivalent experience
Professional designation in paralegal studies and prior 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
High School Diploma / GED / Secondary School or equivalent

Nice To Haves

JD preferred

Responsibilities

Managing and settling smaller and/or less complicated estates and/or terminating trusts.
Assigning tasks to Settlement Assistants/Specialized Fiduciary Administrators and monitoring progress.
Approving completed work of assistants.
Assisting senior officers in coaching, developing, and mentoring assistants.
Coordinating information and activities with external business partners (Attorneys, CPAs, Fiduciary Accountants) and internal support partners (Tax, Compliance, SAM, ART).
Ensuring accurate, timely, and efficient administration of estates and trusts.
Managing business risk.
Maintaining high-quality communications with beneficiaries, focusing on client satisfaction and asset retention.
Facilitating, managing, and settling trust terminations requiring expertise in fiduciary rules and regulations.
Building and maintaining relationships with internal business partners (Client Team, Office of the Chief Fiduciary, ART, Audit, Compliance, Fiduciary Tax Services, SAM, Trust Operations, Tax, Portfolio Managers).
Monitoring the settlement process and task completion.
Proactively identifying and resolving issues.
Acting as a technical resource to colleagues.
Handling tasks delegated by Trust Settlement Manager or Director.