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Employee Benefits Specialist - Corporate

Phoenix, Arizona;

Job Description:

Business Overview:
Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by connecting our capabilities across the firm. RPWS is responsible for the development and execution of a comprehensive set of personal wealth and retirement products and services through Banking, Merrill Edge and Advisory channels. RPWS provides tools and content that enables financial advisors and bankers to help their client’s live better financial lives.


Job Description:

The Employee Benefits Specialist will primarily partner with  Commercial Banking Relationship Managers (up to 2B) to identify benefits sales opportunities and drive growth across Defined Contribution (DC), Defined Benefits (DB), Nonqualified Defined Contribution (NQDC), Equity, and Health Benefits Solutions (HBS) products in a specified geographic region. They will also be aligned to a geographic region of retirement-designated Merrill Advisors to drive business development and execution.

Specific responsibilities include:


Business Identification & Development:

  • Leverages data analytics on existing bank portfolio of clients to identify client engagement opportunities
  • Engages in business development activities with Banking Relationship Managers and Advisors to promote the benefits of retirement plan business, construct strategic prospecting plans and prepare them for effective client engagement from point-of-sale through the duration of the relationship
  • Communicates sales targets and shares measurement metrics regularly to influence and motivate  Banking Relationship Managers and Merrill designated advisors to achieve shared goals.
  • Coordinates and promotes Local Market Events (e.g. HR Symposiums)
  • Manages pipeline of active deals with precision and records all high-value activities performed into CRM tool
  • Analyzes activities and continuously evaluates opportunities for engagement then uses expertise, influence, and strategic relationship management skills to position opportunities to Relationship Managers and clients


Client Engagement:

  • Leverages client management process and prescriptive prioritization of client interactions
  • Partners with Banking Relationship Managers on developing and driving a tactical plan for initial introduction to clients and prospects
  • Prepares and delivers client presentations in partnership with Banking Relationship Managers and retirement designated Advisors from Discovery to Finals stage, and offers guidance through the on-boarding process to ensure an optimal client transition experience
  • Effectively manages multiple facets of the sales process including meeting coordination, RFP responses, product comparisons, proposals, follow-up items/activities, etc.
  • Engages with Banking and Advisory leaders to promote and align activities to shared goals, to optimize business results through a collaborative partnership
     

Continued Growth & Relationship Management:

  • Develops partnerships with key Bank of America stakeholders to drive issue resolution and deliver marketplace intelligence to assist with product evolution
  • Identifies/engages local market teams for servicing; remains engaged with HR on proactive relationship management and client relationship deepening opportunities.
  • Promotes product enhancements/capabilities with key stakeholders to ensure an on-going optimized client experience for Institutional Retirement clients


Required Qualifications:

  • Series 7 license required
  • 7 – 10 years of Retirement plan or benefits experience strongly preferred in a sales related role
  • Ability to influence and motivate others to achieve shared goals
  • Strong financial aptitude
  • Client facing sales experience with ability to communicate complex information to a wide variety of personnel in a clear, concise and well-organized manner
  • Strong interpersonal/rapport building skills are required to build relationships with banking partners and prospective clients and to enhance Bank of America’s brand in the Retirement and Employee Benefits marketplace
  • Proficiency in use of MS Office suite of tools preferred
  • Familiarity with managing activities and pipeline in a CRM tool
  • Ability to travel up to 50% in local assigned territory.

Preferred Qualifications:

  • Bachelor’s Degree strongly preferred
  • 63/65 or 66 licenses strongly preferred (or ability obtain within Compliance Deadline)
  • Life & Variable Insurance licenses preferred (or ability obtain within Compliance Deadline)
  • Superior technical expertise in retirement plans and/or benefits plans strongly preferred, with an acumen of the competitive landscape
  • Understanding of Commercial Banking business and clients

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 connecting our capabilities across the firm. RPWS is responsible for the development and execution of a comprehensive set of personal wealth and retirement products and services through Banking, Merrill Edge and Advisory channels. RPWS provides tools and content that enables financial advisors and bankers to help their client’s live better financial lives.


Job Description:

The Employee Benefits Specialist will primarily partner with  Commercial Banking Relationship Managers (up to 2B) to identify benefits sales opportunities and drive growth across Defined Contribution (DC), Defined Benefits (DB), Nonqualified Defined Contribution (NQDC), Equity, and Health Benefits Solutions (HBS) products in a specified geographic region. They will also be aligned to a geographic region of retirement-designated Merrill Advisors to drive business development and execution.

Specific responsibilities include:


Business Identification & Development:

  • Leverages data analytics on existing bank portfolio of clients to identify client engagement opportunities
  • Engages in business development activities with Banking Relationship Managers and Advisors to promote the benefits of retirement plan business, construct strategic prospecting plans and prepare them for effective client engagement from point-of-sale through the duration of the relationship
  • Communicates sales targets and shares measurement metrics regularly to influence and motivate  Banking Relationship Managers and Merrill designated advisors to achieve shared goals.
  • Coordinates and promotes Local Market Events (e.g. HR Symposiums)
  • Manages pipeline of active deals with precision and records all high-value activities performed into CRM tool
  • Analyzes activities and continuously evaluates opportunities for engagement then uses expertise, influence, and strategic relationship management skills to position opportunities to Relationship Managers and clients


Client Engagement:

  • Leverages client management process and prescriptive prioritization of client interactions
  • Partners with Banking Relationship Managers on developing and driving a tactical plan for initial introduction to clients and prospects
  • Prepares and delivers client presentations in partnership with Banking Relationship Managers and retirement designated Advisors from Discovery to Finals stage, and offers guidance through the on-boarding process to ensure an optimal client transition experience
  • Effectively manages multiple facets of the sales process including meeting coordination, RFP responses, product comparisons, proposals, follow-up items/activities, etc.
  • Engages with Banking and Advisory leaders to promote and align activities to shared goals, to optimize business results through a collaborative partnership
     

Continued Growth & Relationship Management:

  • Develops partnerships with key Bank of America stakeholders to drive issue resolution and deliver marketplace intelligence to assist with product evolution
  • Identifies/engages local market teams for servicing; remains engaged with HR on proactive relationship management and client relationship deepening opportunities.
  • Promotes product enhancements/capabilities with key stakeholders to ensure an on-going optimized client experience for Institutional Retirement clients


Required Qualifications:

  • Series 7 license required
  • 7 – 10 years of Retirement plan or benefits experience strongly preferred in a sales related role
  • Ability to influence and motivate others to achieve shared goals
  • Strong financial aptitude
  • Client facing sales experience with ability to communicate complex information to a wide variety of personnel in a clear, concise and well-organized manner
  • Strong interpersonal/rapport building skills are required to build relationships with banking partners and prospective clients and to enhance Bank of America’s brand in the Retirement and Employee Benefits marketplace
  • Proficiency in use of MS Office suite of tools preferred
  • Familiarity with managing activities and pipeline in a CRM tool
  • Ability to travel up to 50% in local assigned territory.

Preferred Qualifications:

  • Bachelor’s Degree strongly preferred
  • 63/65 or 66 licenses strongly preferred (or ability obtain within Compliance Deadline)
  • Life & Variable Insurance licenses preferred (or ability obtain within Compliance Deadline)
  • Superior technical expertise in retirement plans and/or benefits plans strongly preferred, with an acumen of the competitive landscape
  • Understanding of Commercial Banking business and clients

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21071341

Band: H4

Manages People: No

Travel: Yes, 75% of the time

Manager:

Talent Acquisition Contact:

Pamela Craven

Referral Bonus:

0

Nevada job seekers

Nevada pay range:

$215,000 - $215,000 annualized salary, offers to be negotiated based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.