U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship.
U.S. Trust is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. U.S. Trust employs more than 4,100 professionals and maintains 135 offices in 33 states.
The Business Strategy and Initiative Manager will report to the Business Governance Executive within the UST Business Planning, Governance & Controls Team that supports US Trust, and will work with leadership to lead, track, monitor and manage critical risk initiatives within the business, partnering closely with US Trust associates, control and support partners in support of Risk, Compliance and Audit matters.
The position will serve as the Client Escalation Committee (CEC) secretary as well as be responsible for the oversight of the international client strategy. This includes working with business control and market teams to vet CEC requests, decision pre-approvals that are delegated to the secretary. The individual will be responsible for coordinating CEC weekly meetings, running the CEC pre-call meetings, act as the consultant to the client teams relative to potential deal approvals as well as committee decisions. Related to the international strategy, The role will require consultation with client teams on international requests, update the advisor guide and prepare and file annual Canadian Tax filings as well as ensure adherence to applicable laws, rules and regulations.
Responsibilities will include, but not be limited to supporting international client strategy and CEC secretary duties:
- Be responsible for client escalation committee activities end to end – receiving and reviewing requests from the client teams and markets, vetting request with Business Control Managers (BCM’s), leadership and control partners.
- Schedule weekly CEC meetings, create the agenda and work with Business Control Managers (BCM’s) to prepare documentation including meeting minute capture and presentation time periods.
- Run weekly CEC pre-call including legal, risk, compliance and BCM’s for case review, package completeness and determine if additional documentation is required.
- Prepare and distribute committee meeting minutes and communicate committee decisions to stakeholders.
- Support of the execution of UST international global client strategy.
- Establish and maintain a strong risk management framework to execute the required oversight for the international client strategy – coordinating with client teams and control partners to address international requests, maintain oversight and control processes to ensure compliance with applicable laws, rules and regulations, maintain the international rules and regulations discovery site and coordinate resolution of outstanding compliance and audit issues.
- Coordinate with control partners to monitor and implement procedures to comply with rules and regulations, prepare tax filings and update the advisor guide.
- Demonstrated success in managing complex projects and influencing across lines of business, stakeholders and control partners.
- Demonstrated experience with driving process changes through decentralized organizations – preferably experience with wealth management and client facing teams.
- Strong understanding of Wealth Management Business - global client and international strategy experience a plus.
- Ability to establish partnerships across the organization
- Knowledge of the broader GWIM and BAC organization and ability to connect into best practices and subject matter expertise.
- Eager to take on a complex processes with a goal to simplify and improve for benefit of clients and the teams that service them, while upholding the applicable requirements.
- Risk management experience.
- Minimum of 5 years directly related experience.
- Experience and familiarity with AML, client selection and onboarding, requirements.
- BA/BS degree required. Strongly prefer advanced degree
- Demonstrated project management capabilities.
- Proven strong communication skills (both written and oral)
- Advanced Excel and PowerPoint skills required
- Able to work independently and prioritize multiple projects/requests
- Highly organized with strong attention to detail
Posting Date: 11/01/2019
Location: Boston, MA, 100 FEDERAL ST (MA5100), Pennington, NJ, HOPEWELL BLDG. 6, 1600 AMERICAN BLVD, Charlotte, NC, BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, - United States
Travel: Yes, 10% of the time