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Trust Senior Associate

Stamford, Connecticut;

Job Description:

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.

Job Description:

The Trust Senior Associate (TSA) will assist the Senior Trust Officer or Trust Officer in all phases of account/relationship administration.  In this capacity the TSA will service Financial Advisors (FAs), clients and/or clients outside advisors either directly or as a research resource. 

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 role, as it requires significant telephone and written interaction with clients, their Financial Advisors and intermediaries. Over time, as the TAO gains proficiency and develops relationships with clients, FAs and internal business partners, (s)he would independently oversee/facilitate client requests, projects and ongoing processes. 

Technical Knowledge:

Knowledge of basic trust concepts and vehicles.

Awareness of basic fiduciary and tax laws, fiduciary investment strategies and practice and procedures for their area of responsibility.

Awareness of risk parameters and the ability to apply them to situations.

Knowledge of policy & and procedures.

Professional communication practices.

Required Skills:

Financial services experience, preferably in trust.

Demonstrated ability to function as a team player.

Awareness of trust functions and trust operations.

Ability to effectively organize daily account management requirements.

College degree preferred or equivalent experience. 

Enterprise Job Description:

The Trust Senior Associate (TSA) will assist the Senior Trust Officer or Trust Officer in all phases of account/relationship administration. The TAO will coordinate the internal delivery of services through the appropriate channels within the Fiduciary Services Group and/or Trust Operations to include, but not limited to account funding, processes involved in account opening and funding, account review, transfer of information as it relates to account closings, ensuring that recurring remittances are processed in a timely fashion and that client bills are paid . The TSA gathers and analyzes information relative to discretionary distributions, periodic account reviews and tax preparation. 

The TSA also assists with or directly responds to inquiries from Merrill Lynch advisors, clients, sales team and other business partners.  

Job Band:

H6

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

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.

Job Description:

The Trust Senior Associate (TSA) will assist the Senior Trust Officer or Trust Officer in all phases of account/relationship administration.  In this capacity the TSA will service Financial Advisors (FAs), clients and/or clients outside advisors either directly or as a research resource. 

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 role, as it requires significant telephone and written interaction with clients, their Financial Advisors and intermediaries. Over time, as the TAO gains proficiency and develops relationships with clients, FAs and internal business partners, (s)he would independently oversee/facilitate client requests, projects and ongoing processes. 

Technical Knowledge:

Knowledge of basic trust concepts and vehicles.

Awareness of basic fiduciary and tax laws, fiduciary investment strategies and practice and procedures for their area of responsibility.

Awareness of risk parameters and the ability to apply them to situations.

Knowledge of policy & and procedures.

Professional communication practices.

Required Skills:

Financial services experience, preferably in trust.

Demonstrated ability to function as a team player.

Awareness of trust functions and trust operations.

Ability to effectively organize daily account management requirements.

College degree preferred or equivalent experience. 

Enterprise Job Description:

The Trust Senior Associate (TSA) will assist the Senior Trust Officer or Trust Officer in all phases of account/relationship administration. The TAO will coordinate the internal delivery of services through the appropriate channels within the Fiduciary Services Group and/or Trust Operations to include, but not limited to account funding, processes involved in account opening and funding, account review, transfer of information as it relates to account closings, ensuring that recurring remittances are processed in a timely fashion and that client bills are paid . The TSA gathers and analyzes information relative to discretionary distributions, periodic account reviews and tax preparation. 

The TSA also assists with or directly responds to inquiries from Merrill Lynch advisors, clients, sales team and other business partners.  

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21054900

Band: H6

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Susan Membrino

Referral Bonus:

0

Connecticut job seekers

Connecticut pay range:

$ 24.50 - $ 36.00 hourly pay, offers to be negotiated based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the Corporate Performance Incentive Plan. Qualified employees are eligible for an annual discretionary award based on their overall individual results and behaviors performance at year-end (limited roles may also qualify for incentives during performance year).

Benefits

This role is eligible for all usual company benefits. At Bank of America, our employees are the foundation of our success. That’s why we’re committed to offering a variety of competitive programs and benefits that support your physical, emotional and financial wellness both at work and at home.