Trust Officer II
About The Position
At Bank of America, the Trust Officer II manages a book of fiduciary and investment management accounts for high-net-worth clients and beneficiaries, including multi-generational families. The role oversees the administration and business development of complex investment management and trust accounts, and works with team members to promote awareness and understanding of trust products among clients, associates, and Centers of Influence. The Trust Officer works with teams to drive business development and client retention, assists clients with wealth-planning needs, and manages risk. This position is based at Bank of America Tower Chicago, 110 N Wacker Dr, Chicago, Illinois. It is an in-office role aligned with the bank’s stated commitment to an in-office culture. The position is scheduled for 40 hours per week on first shift.
Requirements
- At least three years of trust administration and estate planning experience.
- Working knowledge of trust administration, fiduciary law, and estate and wealth-transfer planning.
- Knowledge of and adherence to compliance with policies, procedures, and regulatory and legal requirements related to client accounts and portfolios.
- Ability to identify and develop new business opportunities through new or expanded relationships with existing clients and prospects.
- Initiative and a proactive approach to problem solving.
- A creative yet prudent approach to providing solutions within the bank’s risk/reward profile.
- Proven ability to confidently close sales and meet or exceed revenue targets.
- Good communication skills with people and partners, and ability to work as a team player.
- Ability to communicate and connect with high-net-worth clients.
- Minimum education requirement: High School Diploma, GED, secondary school, or equivalent.
Nice To Haves
- Fiduciary professional credentials such as CTFA, CFP, AEP, JD, and/or CPA.
- Bachelor’s degree or equivalent business experience in a high-net-worth trust environment.
Responsibilities
- Provides fiduciary administration support, including reviewing trust instruments, participating in matters where the trustee exercises discretion, managing risk, and conducting periodic trust reviews.
- Supports investment management accounts, including coordinating account openings and closings, money movement, and account maintenance.
- Works with Market leaders and engages clients and prospects to plan, build, and transfer wealth tailored to their goals while delivering a high-quality experience.
- Ensures compliance with regulatory and legal requirements related to client accounts and portfolios.
- Identifies and develops new business opportunities by pursuing new or expanded relationships with existing clients and prospects.
- Works with teams to drive business development and client retention, and assists clients with wealth-planning needs.
- Works with team members to promote trust product awareness and education among clients, associates, and Centers of Influence.
Benefits
- Access to paid time off.
- Industry-leading benefits and resources and support for employees.
- Eligible to participate in the annual discretionary incentive plan; awards are based on individual performance and behaviors, line-of-business and/or group performance and contributions, and overall company success.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
