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 a diverse and 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.
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Job Description:
Accountable for preparing required Administrative Review questionnaires for all types of agency accounts, including Investment Management and Investment Advisory accounts as well as IRA accounts for both Private Bank and Merrill Lynch Trust. Work with the Trust Officer assigned to the account if administrative issues are identified as the ARQ is completed. Ability to read governing documents and apply the provisions thereof to the administrative review of each account to ensure the proper administration is being applied.
Responsibilities:
- Provides Trusteed Individual Retirement Account (TIRA) administrative support to client facing Trust Officers and Administrators to ensure accurate and efficient delivery of IRA account level services.
- Coordinates information and activities with all external and internal support business partners, as needed.
- May be accountable for managing mid-level situations that require a certain level of retirement technical expertise and Private Bank systems knowledge.
- May delegate tasks to the Specialized Fiduciary Administrators, monitors progress and approves completed work.
- Responsible for routine administrative duties, such as performing TIRA account maintenance, TIRA account opening processes, and TIRA money movement and tax related transactions.
- May be asked to participate in projects, prepare reports and conduct research.
- May act as a point of contact for clients and internal/external partners and as a backup for Specialized Fiduciary Officers.
- Expected to demonstrate basic leadership qualities, be flexible, and be a team player.
- The SFO I is supervised and supported by a team.
Qualifications
- Acute attention to detail and ability to multi-task in fast-paced environment.
- Must be able to work well under pressure and exercise sound judgment.
- Must have excellent written and verbal communication skills.
- Highly motivated, self-starter and possesses the ability to work independently
- BS/BA degree or equivalent experience; licensing not required.
- 2-4 years of individual retirement account or Private Bank administrative or trust experience preferred
- Bank of America Private Bank and/or Merrill Lynch systems experience a plus
Skills:
• Risk Management
• Relationship Building
• Attention to Detail
• Customer and Client Focus
• Issue Management
• Administrative Services
• Prioritization
• Problem Solving
• Account Management
• Client Management
• Referral Identification
• Process Simplification
• Active Listening
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)
Pay and benefits information
Pay range
$62,600.00 - $77,400.00 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.