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.
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Job Description:
Provides general legal counsel to AMGs private banking businesses, as well as specific advice on products, services and certain legal actions. Reviews legal contracts and documents. Directly, or through staff, conducts legal research. May represent the bank in legal actions. Individuals in this position typically have a minimum of six years of experience since admission to the Bar.
Responsibilities:
The applicant will serve as a legal support partner to the Private Bank team and will advise them on matters concerning fiduciary law. Other responsibilities include:
- The review and interpretation of wills and trust agreements and legal entity documents under applicable state law;
- Legal advice regarding the use of various investment products in fiduciary accounts;
- Conflict resolution (complaints and pre-litigation);
- Management of outside counsel in pre-litigation matters as well as trust modifications, declaratory judgments, and court accountings;
- Advice on OCC and other regulatory exams and inquiries, including law, rule and regulation changes;
- Advisory role on Private Bank governance committees, councils and workgroups; and
- Legal advice on strategic projects impacting the Private Bank.
Skills:
- Interpret Relevant Laws, Rules, and Regulations
- Advisory
- Legal Drafting and Writing
- Critical Thinking
- Policies, Procedures, and Guidelines
- Problem Solving
- Regulatory Compliance
- Issue Management
- Decision Making
- Influence
- Legal Structures and Legal Forms
- Attention to Detail
- Stakeholder Management
- Collaboration
Required Qualifications:
- Qualified attorney to provide legal advice for trust, estate, charitable foundation and related fiduciary issues.
- The applicant should have a minimum of 6-10 years of experience in the area of personal trust and estate law, preferably with direct experience working as internal or external counsel for a trust company or bank trust department.
- Knowledge of the Uniform Trust Code, Uniform Principal and Income Act, Uniform Prudent Investor Act is required.
- Key qualifications include decisiveness, sound, practical judgment, strong interpersonal skills, the ability to effectively prioritize and manage multiple on-going matters, and a depth of fiduciary knowledge. The applicant must be able to advise independently, as well as participate as a member of a cohesive legal team.
Desired Qualifications:
- DE state law and Directed trusts (required)
- Other states (preferable, not required): FL, NC, SC
- Experience with real estate and privately held businesses held in trusts and estates
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NY - New York - 114 W 47TH ST (NY8114)
Pay and benefits information
Pay range
$172,100.00 - $244,100.00 annualized salary, offers to be determined 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, access to paid time off, 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.