Account Management Ops Analyst

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
 

Job Description:
This job is responsible for moderately complex activities supporting the creation, onboarding and maintenance of accounts, according to the established guidelines and procedures. Key responsibilities include providing quality service and effective operations support for internal business partners and external clients and assisting in training for less experienced team members. Job expectations include operating with a moderate level of independence, and referring to their team lead or manager for direction and support with moderately complex issues and escalations.

Responsibilities:

• Performs onboarding and maintenance of accounts and reviewing required account documentation.

• Responds to moderately complex client inquiries via numerous channels to support operational efficiency and quality client service

• Reviews and approves required account documentation

• Proactively identifies risk and opportunities for process improvement based on an understanding the work impacts other operational units

• Performs moderate levels of research, follow-up and resolution of more complex routine research requests

Line of Business Job Description:

Wealth Management Operations (WMO) provides end-to-end operational support that drives the client experience for Wealth Management advisory partners and their clients.

Within WMO, the Private Bank Offboarding team executes valuation, distribution and termination of accounts, according to the established guidelines and procedures. Key responsibilities include providing quality service and effective operations support for internal business partners and external clients and assisting in training for less experienced team members.

The Analyst is responsible for fulfilling a service request from a Bank of America Private Bank office to open accounts, receive assets, and update account data based on the individual account requirements. The teammate is responsible for the distribution of assets/cash from an account to designated persons based on the unique account circumstances and governing document guidelines, which may result in the final termination of the account. Through this position, the Analyst will enhance their knowledge of fundamental concepts and proprietary program skills necessary in excelling in a career at Bank of America Merrill Lynch.

Job Description:
This role is responsible for moderately complex transaction processing, reconciliation, and resolution of research requests supporting the wealth management business. These transactions and requests may carry high levels of monetary risk. Additional responsibilities include providing quality service and effective and efficient operations support for internal business partners and/or external clients. Individuals should be well versed in operational processes, and assist in training for less experienced team members.

Responsibilities:

• Performs moderately complex transaction processing and reconciliation with medium to large monetary impact according to the established guidelines and procedures

• Responds to moderately complex client inquiries through numerous channels to support operational efficiency and quality client service

• Responsible for the analysis and resolution of moderately complex transactions requiring escalations and/or exceptions

• Reviewing and interpreting legal documents (trusts, wills, agency agreements, etc.) and forms

• Professional communication (written and verbal) with Bank of America Private Bank Client Teams and Business Units

• Working with business partners to transfer assets and follow up on the status of funding

• Preparing distribution schedules to properly allocate assets/cash to designated owners, including obtaining approvals

• Preparing asset valuations as needed for accounts

• Transferring assets/cash to internal accounts and external firms for clients using internal applications/systems

• Reconciliation and follow up of final interest and dividends received into accounts to ensure they are transferred to the correct clients

• Properly closing accounts from systems and reporting data Maintaining or exceeding service delivery levels​

Required Qualifications:

• Organizational and time management skills

• Ability to prioritize and handle multiple job related duties efficiently while exercising sound judgment to ensure all quality measurements, deadlines and business objectives are met

• Proven history of effective ownership and accuracy

• Ability to work independently while effectively managing and finding resolution to complex situations 

• Exhibit professionalism in all situations

• Embrace and can be a catalyst for change​

Desired Qualifications:

• 1+ year(s) of Legal Document Review (not required)

• Proficient with Microsoft Office, Outlook, Word and Excel

• Ability to manipulate data using spreadsheets and other similar desktop applications

• Knowledge of Various Investment Types (stocks, bonds, mutual funds, etc.)

• Experience, knowledge of or studies related to Finance or Accounting

• An understanding of technology and the ability to incorporate that understanding into process improvements​

Skills:

• Account Management

• Customer and Client Focus

• Oral Communications

• Research

• Analytical Thinking

• Attention to Detail

• Collaboration

• Problem Solving

• Prioritization

• Recording/Organizing Information

• Result Orientation

Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy

Shift:

Hours Per Week: