Trust Senior Associate

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us

Job Summary:

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. TSAs 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.

Job Description:

In addition to the ability to deliver generalist support, and as part of the Client Team, actively support 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

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 

Proactively 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 of 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

Skills:

Attention to Detail

Critical Thinking

Decision Making

Oral Communications

Drives Engagement

Innovative Thinking

Networking

Problem Solving

Shift:

1st shift (United States of America)

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us

Job Summary:

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. TSAs 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.

Job Description:

• In addition to the ability to deliver generalist support, and as part of the Client Team, actively support 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 

• Proactively 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 of 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

Skills:

• Active Listening

• Adaptability

• Attention to Detail

• Emotional Intelligence

• Prioritization

• Collaboration

• Critical Thinking

• Decision Making

• Oral Communications

• Written Communications

• Drives Engagement

• Innovative Thinking

• Mentoring

• Networking

• Problem Solving

Shift:

1st shift (United States of America)

Hours Per Week: 

40 About Us

Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:
1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
2. Think about why you can do the job and make a list of your skills that are relative to the job.
3. Identify experiences or accomplishments that show your proficiency in the skills required for the job.
4. Summarize your abilities, accomplishments and skills into a brief, concise document.

 

Considerations when writing a resume
• Do be brief. Resumes should be 1-2 pages in length.
• Do be upbeat and active in your wording.
• Do emphasize what you have done clearly and concretely.
• Do be neat and well organized.
• Do have others proofread and critique your resume. Spell check. Make it error free.
• Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.
• Don't be dishonest, always tell the truth about yourself in the most flattering light.
• Don't include salary history or requirements.
• Don't include references.
• Don't include accomplishments that do not support your professional goals.
• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
• Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview
1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?
3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.
4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.
5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.
6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.
7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.

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