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Sr. Institutional Pension Investment Strategist

Charlotte, North Carolina;

Job Description:

Business Overview

Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by providing best in class, integrated products in the most intuitive, efficient and client friendly way while maintaining a forward thinking mindset and risk management focus.  RPWS is responsible for both the institutional and personal retirement capability set to include 401(k), Equity and Health Benefit plans for companies of all sizes as well as college savings, personal retirement planning, retirement income, insurance and estate planning for individuals. RPWS also provides tools and content that enables advisors and bankers to help their client’s live their best financial lives.

Business/Team:

The Defined Benefits Solutions team at Bank of America is responsible for the asset-liability analytics and liability-based reporting that supports strategic asset allocation for the firm’s institutional defined benefit pension plan clients and prospects. The team also provides field support on pension plans to portfolio strategists, relationship management, financial advisors, and defined benefit specialists.

Responsibilities:

  • Actuarial modeling of key pension metrics such as minimum required contributions, P&L expense, and balance sheet entries; occasional presentation of findings and concepts to prospects or clients
  • Liability-based reporting to capture impact of interest rate movements and investment returns on plan’s funded status
  • Collaboration with asset allocation colleagues on capital market assumptions and best-thinking portfolios, particularly around liability driven investment and de-risking glide paths
  • Field support and training for portfolio strategists, relationship managers, and financial advisors on defined benefit plan issues
  • Prospecting support to sales colleagues for new business development in the pension space
  • Contribute to thought leadership for the firm’s defined benefit clients and prospects

Qualifications:

  • 5-10 years actuarial experience with defined benefit pension plans, preferably in a consulting capacity
  • ASA (Associate of the Society of Actuaries)  or FSA (Fellow of the Society of Actuaries) required
  • Extensive knowledge of ERISA funding regulations and FASB accounting rules applicable to defined benefit pension plans; pension investment experience a plus
  • Experienced in Microsoft Excel and stochastic modeling, simulation techniques, and VBA/macro coding
  • Must be able to work both independently and as a member of a team to deliver
  • Ability to think creatively, problem solve and provide innovative solutions
  • Strong verbal and written communication skills
  • CFA a plus
  • Bachelor’s degree

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Business Overview

Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by providing best in class, integrated products in the most intuitive, efficient and client friendly way while maintaining a forward thinking mindset and risk management focus.  RPWS is responsible for both the institutional and personal retirement capability set to include 401(k), Equity and Health Benefit plans for companies of all sizes as well as college savings, personal retirement planning, retirement income, insurance and estate planning for individuals. RPWS also provides tools and content that enables advisors and bankers to help their client’s live their best financial lives.

Business/Team:

The Defined Benefits Solutions team at Bank of America is responsible for the asset-liability analytics and liability-based reporting that supports strategic asset allocation for the firm’s institutional defined benefit pension plan clients and prospects. The team also provides field support on pension plans to portfolio strategists, relationship management, financial advisors, and defined benefit specialists.

Responsibilities:

  • Actuarial modeling of key pension metrics such as minimum required contributions, P&L expense, and balance sheet entries; occasional presentation of findings and concepts to prospects or clients
  • Liability-based reporting to capture impact of interest rate movements and investment returns on plan’s funded status
  • Collaboration with asset allocation colleagues on capital market assumptions and best-thinking portfolios, particularly around liability driven investment and de-risking glide paths
  • Field support and training for portfolio strategists, relationship managers, and financial advisors on defined benefit plan issues
  • Prospecting support to sales colleagues for new business development in the pension space
  • Contribute to thought leadership for the firm’s defined benefit clients and prospects

Qualifications:

  • 5-10 years actuarial experience with defined benefit pension plans, preferably in a consulting capacity
  • ASA (Associate of the Society of Actuaries)  or FSA (Fellow of the Society of Actuaries) required
  • Extensive knowledge of ERISA funding regulations and FASB accounting rules applicable to defined benefit pension plans; pension investment experience a plus
  • Experienced in Microsoft Excel and stochastic modeling, simulation techniques, and VBA/macro coding
  • Must be able to work both independently and as a member of a team to deliver
  • Ability to think creatively, problem solve and provide innovative solutions
  • Strong verbal and written communication skills
  • CFA a plus
  • Bachelor’s degree

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21025152

Band: H4

Manages People: No

Travel: Yes, 5% of the time

Manager:

Talent Acquisition Contact:

Pamela Craven

Referral Bonus:

0