Trust Officer I (TO I), Executive Wealth Services, Private Banking

Bank of America • Princeton, TX

1d

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us! Trust Officer I (TO I), Executive Wealth Services, Private Banking - Provides fiduciary support within our Executive Wealth Services, Private Banking organization and expertise to meet the needs of clients in support of the integrated delivery of products and services. Works closely with relationship managers and portfolio managers in defining client's requirements including legal and tax aspects, and in coordinating client contact on an ongoing basis. Typically an entry level position where smallest and least complicated issues are addressed. Non-licensed associate. Job Description: Responsible for the professional administration of fiduciary accounts including compliance with all regulations, policies and procedures Responsible for understanding the client’s situation and circumstances, including knowing the clients extended family and younger generation. Develops and deliverers solutions to meet client needs Possesses technical fiduciary knowledge in the areas of law, tax, fiduciary investing, regulation, compliance as well as estate planning. Successfully works with centers of influence and the professional community to develop a network of external referral partners As the key associate on specific relationships, works with teammates to deliver our full array of integrated solutions, as appropriate Promotes the full breadth of our fiduciary platform (fiduciary, tax, special assets, estate settlement, both internally and externally to grow our fiduciary business and actively participates in the sales process. Collaborates with team members to consistently deliver on Bank of America’s Private Bank value proposition.

Requirements

• 2+ years of successful Private Banking experience in trust administration, servicing and managing fiduciary relationships with high net worth clients (or equivalent)
• Technically proficient in fiduciary law, tax investments and administration
• Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Nice To Haves

• Additional Legal, Paralegal and/or JD a plus, not required
• Fiduciary Education and Training (desired)

Responsibilities

• Responsible for the professional administration of fiduciary accounts including compliance with all regulations, policies and procedures
• Responsible for understanding the client’s situation and circumstances, including knowing the clients extended family and younger generation.
• Develops and deliverers solutions to meet client needs
• Possesses technical fiduciary knowledge in the areas of law, tax, fiduciary investing, regulation, compliance as well as estate planning.
• Successfully works with centers of influence and the professional community to develop a network of external referral partners
• As the key associate on specific relationships, works with teammates to deliver our full array of integrated solutions, as appropriate
• Promotes the full breadth of our fiduciary platform (fiduciary, tax, special assets, estate settlement, both internally and externally to grow our fiduciary business and actively participates in the sales process.
• Collaborates with team members to consistently deliver on Bank of America’s Private Bank value proposition.

Benefits

• This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
• This role is currently benefits eligible.
• We provide 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.
• Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED
• Number of Employees: 5,001-10,000 employees