Trust Senior Associate (TSA), Private Bank

Bank of America•White Plains, NY

2d•$31 - $44•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 Trust Senior Associate (TSA) is a specialist role assisting trust officers with all phases of trust relationship servicing and administration. In this capacity the TSA will interact with Merrill Advisors (FAs) and their teams, clients and/or clients’ outside advisors directly or as a research resource. The TSA will coordinate the internal delivery of trust services through the appropriate channels within the Fiduciary Solutions and/or Trust Operations groups. It is recognized that candidates may not have specific trust experience and/or familiarity with the company’s risk parameters and policies and procedures. Applicants who are detailed oriented, can work independently and have a willingness to learn the required skills for this role are viable candidates. Strong verbal and written communication skills are critical for this position, as it requires significant telephone and written interaction with clients, their Advisors and intermediaries.

Requirements

Minimum two (2) years experience in a client-facing or financial services operations role or Trust support experience strongly preferred.
Active Listening
Adaptability
Attention to Detail
Emotional Intelligence
Prioritization
Collaboration
Critical Thinking
Decision Making
Oral Communications
Written Communications
Drives Engagement
Innovative Thinking
Mentoring
Networking
Problem Solving

Nice To Haves

Bachelor’s degree preferred.

Responsibilities

Partner with client teams, business partners and centralized service teams to deliver Private Bank capabilities and solutions related to:
Proactive client servicing such as meeting material preparation and family tree updates.
Supporting a seamless client experience and timely responses by researching inquiries from clients, Advisors and Centers of Influence.
Facilitating tax reporting process by researching cost basis, responding to internal requests for information, obtaining outstanding tax documents from external sources and furnishing tax documents as requested to clients and their personal tax preparers.
Perform tasks necessary to mitigate fiduciary risks though multiple routines and processes:
Monitoring of cash balances including overdraft remediation and addressing excess cash holdings
Review of prior day activity reports
Raising cash
Investment Policy Statement reviews/updates
Discretionary Action Form preparation and supporting documentation review
Updating account coding in response to changes in circumstances and/or completion of periodic account reviews
Fee acknowledgement preparation
Deceased Client Notification process and action items
Account maintenance, such as establishment and updates to interested party records
Know Your Client refreshes
Monitoring of RMD status for IRAs and private foundations
Support ad-hoc administrative and strategic projects, prepare reports and conduct research.
Adhere to Private Bank and Enterprise risk framework and comply with regulatory and legal requirements.