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Trust Senior Associate (Ft. Lauderdale, FL)

Fort Lauderdale, Florida

Job Description:

Trust Senior Associate

 

Business Overview

Bank of America Private Bank, 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.  The Private Bank 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. The Private Bank employs more than 4,100 professionals and maintains 135 offices in 33 states.

 

Summary of Position:

The Trust Senior Associate (TSA) is a specialist role that has primary responsibility for assisting the Senior Trust Officer and Trust Officer in all phases of trust account/relationship servicing, fulfillment and/or administration. TAs are trust product experts who act as an additional point of contact for clients and/or as a backup for client-facing Trust Officers.

The TSA will coordinate the internal delivery of trust services through the appropriate channels within the Fiduciary Services and/or Trust Operations groups Additionally, TAs will seek out new business opportunities from existing books of business and assist other service associates as needed.

Responsibilities:

  • In addition to the ability to deliver generalist support, part of the Client Team actively supporting Senior Trust Officers and Trust Officers to meet clients' trust needs and expectations
  • Serve as an additional point of contact to clients and/or as backup for the Trust Officers
  • Initiate and monitor client onboarding including account opening and asset transfer; handle client inquiries related to the on-boarding process; KYC refresh and ongoing requests, digital engagement and fulfillment
  • Responsible for:
  • Complex party maintenance
  • Administrative Review (IM&T)
  • Transaction Processing and Management
  • Money Movement (Trust)
  • Specialized Fiduciary Transactions
  • Discretionary and action matters
  • UPIA, Equitable Adjustments and 65 Day Tax
  • Account Pay Service Provider
  • Generation Skipping Tax – Processing
  • Asset Transfer - complex
  • Administrative duties as required
  • Support initial review of IPS process
  • Perform servicing, fulfillment and account maintenance activities, which are primarily trust/fiduciary-related that include PACE/Trust Web accounting transactions, deposits/transfers, etc.
  • Leverage experience and deep expertise especially with the most complex administrative trust needs to manage and/or execute client transactions 
  • Proactivity identify deepening opportunities while performing existing responsibilities and engaging in meaningful interactions
  • Coordinate with Client Teams and partner to deliver an integrated service to the client and identify and resolve issues in an effective and timely manner
  • Participate in Client Management Process (CMP) activities including supporting delivering a branded client experience and meaningful interactions
  • ​Ensure adherence to all internal policies and compliance to legal and regulatory requirements


 

Qualifications:

  • Minimum of 4-5 years experience with a financial institution focusing on high net worth client service and sales
  • Ability to successfully complete assessment of critical skills
  • BS/BA degree in Business, Finance, Economics or Law desired
  • Ability to obtain and maintain SAFE Act registration


 

Job Band:

H6

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Trust Senior Associate

 

Business Overview

Bank of America Private Bank, 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.  The Private Bank 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. The Private Bank employs more than 4,100 professionals and maintains 135 offices in 33 states.

 

Summary of Position:

The Trust Senior Associate (TSA) is a specialist role that has primary responsibility for assisting the Senior Trust Officer and Trust Officer in all phases of trust account/relationship servicing, fulfillment and/or administration. TAs are trust product experts who act as an additional point of contact for clients and/or as a backup for client-facing Trust Officers.

The TSA will coordinate the internal delivery of trust services through the appropriate channels within the Fiduciary Services and/or Trust Operations groups Additionally, TAs will seek out new business opportunities from existing books of business and assist other service associates as needed.

Responsibilities:

  • In addition to the ability to deliver generalist support, part of the Client Team actively supporting Senior Trust Officers and Trust Officers to meet clients' trust needs and expectations
  • Serve as an additional point of contact to clients and/or as backup for the Trust Officers
  • Initiate and monitor client onboarding including account opening and asset transfer; handle client inquiries related to the on-boarding process; KYC refresh and ongoing requests, digital engagement and fulfillment
  • Responsible for:
  • Complex party maintenance
  • Administrative Review (IM&T)
  • Transaction Processing and Management
  • Money Movement (Trust)
  • Specialized Fiduciary Transactions
  • Discretionary and action matters
  • UPIA, Equitable Adjustments and 65 Day Tax
  • Account Pay Service Provider
  • Generation Skipping Tax – Processing
  • Asset Transfer - complex
  • Administrative duties as required
  • Support initial review of IPS process
  • Perform servicing, fulfillment and account maintenance activities, which are primarily trust/fiduciary-related that include PACE/Trust Web accounting transactions, deposits/transfers, etc.
  • Leverage experience and deep expertise especially with the most complex administrative trust needs to manage and/or execute client transactions 
  • Proactivity identify deepening opportunities while performing existing responsibilities and engaging in meaningful interactions
  • Coordinate with Client Teams and partner to deliver an integrated service to the client and identify and resolve issues in an effective and timely manner
  • Participate in Client Management Process (CMP) activities including supporting delivering a branded client experience and meaningful interactions
  • ​Ensure adherence to all internal policies and compliance to legal and regulatory requirements


 

Qualifications:

  • Minimum of 4-5 years experience with a financial institution focusing on high net worth client service and sales
  • Ability to successfully complete assessment of critical skills
  • BS/BA degree in Business, Finance, Economics or Law desired
  • Ability to obtain and maintain SAFE Act registration


 

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21037471

Band: H6

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Ciji Jones

Referral Bonus:

0

Street Address

Primary Location:
401 E LAS OLAS BLVD, FL, Fort Lauderdale, 33301