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- The Chief Financial Officer (CFO) Group
- Consumer Banking
- Corporate Audit
- Corporate Security
- Global Banking & Markets
- Global Human Resources
- Global Marketing & Corporate Affairs
- Global Technology & Operations
- Global Wealth & Investment Management
- Mortgage (Legacy Asset Servicing)
- Bank of America Merchant Services, LLC
Bank of America provides financial products and services for our customers and clients throughout the United States.
To find out where you might best fit within Bank of America, we invite you to read an overview of each of our businesses.
The Chief Financial Officer (CFO) Group
The Chief Financial Officer Group encompasses finance functions including Balance Sheet and Capital Management, Finance, Accounting, Corporate Treasury, Investor Relations and Corporate Investments as well as corporate services comprising vendor administration, corporate workplace, and employee services such as travel and records management.
- Balance Sheet and Capital Management partners closely with our lines of business, control partners and business support functions to ensure execution of capital-related priorities. This approach to Bank of America’s capital management process ensures the efficient and proactive management of economic and regulatory capital as well as the successful implementation of related initiatives.
- The Chief Accounting Officer group oversees the business controllers and groups that provide financial reporting and controls for support teams across the organization. The finance functions are responsible for strategic financial planning, forecasting and analysis processes; oversight of the internal control environment; financial reporting and strategic cost measurement. The Chief Accounting Officer group also has dedicated functions that deal with federal and state taxes, SEC and bank regulatory reporting, accounting policies and securitizations.
- The Line of Business Finance teams – Consumer & Business Banking and Home Loans Finance; Global Banking and Markets Finance; and Global Wealth and Investment Management Finance – provide strategic counsel and analysis to the lines of business, are responsible for executing all core finance functions and key control processes to ensure the integrity of financial results. The teams monitor and offer insight on appropriate market metrics for the business, helping to drive the business to deliver its financial commitments and contributing to the overall strategy. The Finance teams also ensure appropriate financial rigor is in place for all strategic initiatives.
- Corporate Treasury is responsible for providing world-class management of the company’s interest rate and liquidity risks using a state-of-the-art framework for balancing the tradeoffs between risk and return. Treasury's primary responsibilities include funding the company’s balance sheet, forecasting net interest income, managing relationships with rating agencies and fixed income investors, and analyzing interest rate and liquidity risks.
- Global Corporate Services (GCS) is responsible for: managing the company’s real estate footprint; shedding non-core assets; delivering quality, cost-efficient employee services (i.e. travel, print, office supplies); and providing a risk-based vendor operating model.
- Global Principal Investments (GPI) invests capital and manages investments on behalf of the enterprise to enhance strategic growth opportunities and generate returns.
- The Chief Investment Officer team manages the activities of the Corporate Investments Group and is responsible for ensuring that its actions are consistent with the policy, guidelines and direction of the Finance Committee and Asset Liability Risk Management Committee. The CIO has discretion in implementing the portfolio strategy to optimize execution and returns as market conditions allow.
- Investor Relations creates and implements programs to keep the financial community current on company performance and industry trends.
Global Compliance is responsible for overseeing “compliance risk,” which is the risk of legal or regulatory sanctions, material financial loss or damage to the reputation of the company arising from the failure of the company to comply with requirements of applicable banking and financial services laws, rules, and regulations, related self-regulatory organization standards, and codes of conduct.
Functional activities currently performed in Compliance can be broken down into the categories below:
- Line of Business (LOB) Compliance – Advice and guidance to LOB’s to prevent and remediate violations of financial services laws, rules and regulations in their day-to-day business activities
- Corporate Compliance – Drives common standards, reporting and oversight for the Global Compliance function and adherence to the Global Compliance Framework
- Compliance Operations – Volume-driven operations serving the Enterprise
- Regulatory Interaction – Various activities focused on the coordination of regulatory agencies and bodies including regulatory relationship management, regulatory inquiries and exam management
Each day, Bank of America's Consumer Banking employees are working to make financial lives better for millions of customers and small businesses. Consumer Banking is made up of both Retail and Preferred & Small Business Banking teams that are focused on meeting the deposit, borrowing, saving, investment and small business needs of our customers. As the largest business in the company, our Consumer Banking teams serve approximately 51 million consumer households through checking, savings, credit and debit cards, investments, home equity lending and mortgages. Some of the services we provide our customers to meet their financial needs include helping them to acquire their first home and establish credit, paying bills via mobile phone, saving for retirement and funding a small business owner's dream.
Careers in our Consumer Banking organization would include positions in the Retail Bank such as banking centers and call centers and in Preferred and Small Business Banking within Merrill Edge, Home Loans, Dealer Financial Services, Preferred Sales, and Small Business Banking.
Corporate Audit is a global team responsible for providing independent assessments of business activities throughout Bank of America. The group supports how the company manages risk by determining whether controls over key risks are in place and functioning properly. Corporate Audit also makes recommendations to management in support of Bank of America's strategies and business objectives. Our Corporate Audit team reports directly to the Audit Committee of the Board of Directors to maintain independence.
Our Credit Review team provides an independent assessment of credit risk and the quality of credit processes. These assessments are provided to executive management of the Board of Directors, regulators and other stakeholders.
Global Corporate Security protects Bank of America, its employees, customers and assets from a variety of threats and increasing risks we face across the globe. Through an intelligence-driven, prevention-focused program, our Background Screening Investigations, Protective Services and Security Operations Analysis Command Center (SOACC) business groups provide a safe and secure environment for employees and customers worldwide, protect the Bank of America brand, minimize risk and exposure from both current and emerging threats, and consistently deliver excellent service and results.
Global Banking & Markets
Whether raising capital in Singapore or hedging currencies in Frankfurt, Bank of America Merrill Lynch can do more for our clients than any other financial services firm. We understand the challenges our clients face around the world, and we use the full resources of our company to help them achieve their goals. Our solutions span the complete range of advisory, capital raising, banking, treasury and liquidity, sales and trading, and research capabilities.
Our Global Banking & Markets division serves mid to large sized corporations and institutional clients worldwide. It is comprised of Global Commercial Banking, Global Corporate & Investment Banking and Global Markets. Aligned with these client-facing groups are Global Capital Markets and Global Research.
Global Markets offers sales and trading services, including research, to institutional clients across fixed-income, credit, currency, and commodity and equity businesses. Global Markets product coverage includes securities and derivative products in both the primary and secondary markets. Global Markets provides market-making, financing, securities clearing, settlement and custody services globally to our institutional investor clients in support of their investing and trading activities. We also work with our commercial and corporate clients to provide risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income and mortgage-related products.
More than 700 professionals in our award winning Global Research organization support the institutional sales and trading teams and their clients. Their expertise is at the core of the value delivered to investor clients. Our research analysts provide insightful, objective and decisive research designed to enable their clients to make informed investment decisions in six primary disciplines and Corporate Access:
- Global Equities
- Global Credit Research & GEM Fixed Income Strategy
- Global Equity Strategy
- Global Economics
- Global Commodities
- Global Rates and Currencies
Global Corporate & Investment Banking (GCIB)
Global Corporate & Investment Banking focuses on building long-term relationships with more than 3,000 large U.S. and multinational corporations, financial institutions and financial sponsors. We provide strong advisory expertise, capitalizing on powerful mergers and acquisitions, corporate banking, treasury, debt and equity product expertise to deliver integrated financial solutions.
Global Corporate Banking includes both Corporate Banking coverage officers, as well as the product development and delivery capabilities that are part of Corporate Credit and Transactional Banking. We’re bringing together corporate bankers, product delivery officers and the product development teams to help us fully integrate corporate banking product capabilities with our client coverage model, further pulling the business together end-to-end in partnership with investment banking.
Our Global Corporate & Investment Banking business includes:
- Global Investment Banking
- Global Capital Markets
- Global Corporate Banking
Global Commercial Banking (GCB)
Global Commercial Banking serves approximately 24, 000 companies with annual revenues of $50 million to more than $2 billion. GCB serves primarily U.S. and Canadian clients, working to deliver a full suite of financial solutions, including the international needs of our clients’ overseas subsidiaries.
GCB is organized by industry and geography, to deliver both local coverage and industry expertise. Our unique client coverage model and close partnerships with other businesses in Global Banking & Markets plus Global Wealth & Investment Management and Consumer Banking and Small Business, enable our commercial client teams to seamlessly deliver all of the company’s capabilities as integrated solutions.
Global Commercial Banking Business includes:
- Bank of America Business Capital
- Commercial Real Estate Banking
- Global Credit Products
- Middle Market Banking
- Specialized Industries
◦ Healthcare & Institutions
◦ Commercial Dealer Financial Services
◦ Sports Finance
◦ Financial Sponsors
Global Corporate Credit & Transaction Banking
Global Corporate Credit and Transaction Banking consists of three businesses:
- Global Transaction Services (GTS) provides liquidity management, payments and receipts, trade and supply chain finance, foreign exchange and commercial card services to three million small businesses, thousands of middle market companies, and to multinational corporations, financial institutions and governments around the world.
- Global Leasing provides equipment finance solutions to more than 62,000 clients’ worldwide -- small businesses, middle-market companies, large corporations and government entities. Leasing offers product expertise in wholesale vendor financing as well as tailored programs specific to industry segments, including aviation, healthcare, energy services and renewable energy. The team includes employees with a wide range of skills and expertise, including sales originators, syndicators, attorneys, accountants, appraisers, credit underwriters, contract administrators and equipment managers.
- Global Loan Products (GLP) is responsible for driving improved performance of GCIB’s loan exposure and capital, including pricing, profitability and returns, as well as utilization and allocation of the balance sheet across the business.
Business Banking serves nearly 40,000 mid-sized U.S. based companies, generally with annual revenues between $5 million and $50 million, by delivering strategic financial advice and solutions to help companies grow, improve cash flow, manage U.S. and international payments, and invest for the future.
Organized by geography, our dedicated US based client management teams work closely with partners across the enterprise to deliver a wide range of financial solutions, including credit, cash management, foreign exchange, equipment finance and merchant services.
Since many business owners and entrepreneurs often find their personal wealth closely intertwined with their business finances, Business Banking client managers connect clients with personal wealth management specialists in U.S Trust and Merrill Lynch, who offer employer 401k solutions and succession planning.
Global Human Resources
We recognize that talented, engaged and satisfied employees are the foundation to help make the financial lives of our customers and clients better. Our Global Human Resources (GHR) team is focused on making Bank of America a great place for people to work by creating an environment where all employees have the opportunity to achieve their goals. We align human resources strategy to the business strategy, enabling the company to connect with customers and clients by attracting, developing and retaining a world-class workforce.
In addition to advising our clients on a wide variety of topics, our GHR team helps the company provide comprehensive and competitive benefits, development opportunities and an inclusive workplace for our employees worldwide. GHR employees must display strong business acumen, strategic partnership skills and a commitment to realizing the power of our people. Our HR teams consist of Global Staffing, Global Mobility, Global Learning, Leadership Development, Diversity and Inclusion, Advisory Services, HR Business Controls, Compensation and Benefits and Corporate Security.
Global Marketing & Corporate Affairs
The mission of Global Marketing & Corporate Affairs (GM&CA) is to proactively build, advance and protect the Company’s brand, interests and reputation globally. GM&CA is comprised of the following teams:
- Consumer Marketing is responsible for marketing and analytics, operations for online and mobile platforms as well as the design, development and delivery of digital user experiences through Online Banking.
- Enterprise Marketing and Local Delivery manages the bank’s brand through a Market President Network that integrates businesses, brand activities and corporate social responsibility activities with the aim of delivering one company locally to customers, clients and communities.
- Global Corporate Communications and Public Policy is responsible for internal and external communications that promote and protect the Bank of America brand and positively influence the attitudes and behaviors of key audiences, including employees, the media, legislators and customers.
- Global Corporate Social Responsibility leads efforts to improve our neighborhoods and create and maintain sustainable and profitable business practices that benefit employees, stakeholders and the communities that we serve through the Bank of America Charitable Foundation. This includes programs supporting arts and culture; Community Development Financial Institutions; Community Reinvestment Act and Low and Moderate Income programs; Community Affairs and Environmental programs.
- Global Wealth and Investment Management Marketing provides comprehensive, integrated programs covering the Global Wealth and Investment Management business, including U.S. Trust, Merrill Lynch Wealth Management, Merrill Lynch Private Banking and Investment Group, Global Wealth and Retirement Solutions and Global Wealth Banking.
Our integrated structure ensures strong, coordinated and strategic management of communications activities with customers, employees and shareholders.
Global Technology & Operations
With more than 110,000 employees and contractors in 34 countries, Global Technology & Operations (GT&O) delivers technology and operating services that form the backbone of the company’s retail, commercial and institutional businesses, as well as its key support functions.
A leader in technology
GT&O’s technology professionals benefit from billions of dollars the company invests annually to develop and deploy leading-edge technology in areas such as:
- Mobile banking
- Payments processing
- Technology infrastructure
- Risk and capital management
- Enterprise data management
A leader in operations
GT&O’s operations professionals provide operating and fulfillment services that sustain the company’s industry-leading businesses. Several client contact centers are perennial winners of J.D. Power & Associates recognition for “customer satisfaction excellence,” including the Merrill Lynch Retirement Services contact center, the Corporate and Commercial Banking contact center and the Merrill Edge contact center.
In GT&O, our team expects excellence, rewards high performance, develops its leaders, encourages innovation, demands integrity, cultivates trust and teamwork, and promotes diversity and inclusion. That culture, combined with market leadership and a wide array of professional opportunities, enables GT&O to attract and retain the brightest minds in the business.
Women in Technology & Operations advocacy group
In addition to the Employee Networks and other interest groups that are available to all Bank of America employees, GT&O promotes an advocacy group called “Women in Technology & Operations” that supports female employees in GT&O through development, outreach and networking opportunities. Women in Technology & Operations has 3,300 members in 15 local chapters in five countries.
Global Wealth & Investment Management
Global Wealth & Investment Management (GWIM) provides comprehensive wealth management to affluent and high-net-worth clients. We also provide retirement and benefit plan services, philanthropic management and asset management to individuals and institutions.
GWIM is committed to promoting an inclusive environment where all employees have the opportunity to achieve personal success and contribute to our company. Visit our GWIM Diversity & Inclusion site to learn more.
Our clients have access to a range of services offered through the following businesses:
BofA® Global Capital Management focuses on the needs of individual and institutional cash investors. Our clients benefit from a diverse array of investments, which includes domestic taxable and tax-exempt money market funds, offshore funds and separately managed accounts for those who require more customized strategies.
Merrill Lynch Global Wealth and Retirement Solutions delivers high quality investment advice and guidance, and product capabilities to external clients and internal businesses. Investment solutions include equity, debt and structured products, alternative investments and investment management solutions for client portfolios. This group also provides administration, recordkeeping, custodial, communications, consulting and execution services to approximately 40,000 workplace-based benefit plans.
GWIM Banking provides Liquidity, Credit and Cash Management Solutions to clients of Merrill Lynch Wealth Management, and U.S. Trust. Our clients' needs are met through a network of Wealth Management Specialists and Credit Specialists who help provide banking solutions to clients.
Merrill Lynch Wealth Management provides clients with a personalized financial review, hands-on advice and guidance through a network of approximately 15,000 Financial Advisors throughout the world. Clients with a personal wealth profile of at least $250,000 of investable assets can meet with a highly trained Merrill Lynch Financial Advisor who is committed to understanding their needs and supported by the broad resources of Merrill Lynch.
Private Banking and Investment Group provides tailored solutions to meet the sophisticated needs of ultra-high net worth individuals. Our clients are served by over 150 Private Wealth Advisor teams across the country, along with a team of specialists in areas such as investment management, concentrated stock management and inter-generational wealth transfer strategies.
U.S. Trust, Bank of America Private Wealth Management, provides comprehensive investment and wealth management solutions to wealthy and ultra-wealthy clients with investable assets of $3 million or more. Our company has 4,400 associates serving clients in more than 140 offices in 32 states across the country.
Chief Operating Officer, GWIM, creates and drives business and strategic planning across lines of business within GWIM and works outside of GWIM on key cross-organizational strategies and projects.
Merrill Edge is among the fastest-growing brokerages with strong asset growth. Merrill Edge brings together access to the banking convenience of Bank of America and investment capabilities of Merrill Lynch to simplify the financial lives of clients. Clients have a choice of managing their own investments using Merrill Edge’s online and mobile platforms or working with one of the Merrill Edge Financial Solutions Advisors in select Bank of America branches or over the phone to meet their financial goals. J.D. Power and Associates recognized Merrill Edge call centers in 2013 for providing “An Outstanding Customer Service Experience” for the second year in a row. We are looking for successful individuals with proven financial, sales and relationship-building skills to join our program.
Mortgage (Legacy Asset Servicing)
Bank of America Legacy Asset Servicing is dedicated to addressing the special needs of distressed mortgage customers, and is committed to delivering fair, fast and final resolution to their situation. We provide solutions that range from loan modifications to foreclosure alternatives such as short sales and deeds in lieu; and in cases where foreclosure is unavoidable; we offer specialized support services to borrowers who must transition out of their home. We’re committed to hiring top talent to join our team and help provide the best possible customer experience.
The Legal Department is comprised of attorneys, paralegals and support staff located across the globe that manage the bank’s legal affairs and legal risks. Our Legal Department provides professional legal services for Bank of America and its subsidiaries by addressing legal risks and identifying opportunities for our business partners. As a key control partner for Bank of America, we understand the businesses we support and their ultimate customer, shareholder and employee goals.
Bank of America Merchant Services, LLC
Bank of America Merchant Services is one of the largest electronic payments companies in the industry. Our associates sell products and services to businesses that enable them to accept credit, debit and all other non-cash forms of payment. When you swipe your debit or credit card at the grocery store or gas station, you’re using the products and services that we provide to businesses of all sizes, from your neighborhood dry cleaner to the major retail stores you frequent every day.
Formed in 2009 as a joint venture between Bank of America Corporation and First Data Corporation, we provide clients with transaction speed, security and reliability, point-of-sale devices, gift card and loyalty programs, and transaction trend reporting across a host of retail and eCommerce platforms to merchants of all sizes.
For more information about Bank of America Merchant Services and current career opportunities, please click here.