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
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:1st shift (United States of America)
Hours Per Week: 40
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Finance and Sales
Industries
Banking
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Once the selected applicants have interviewed, you will be notified by email or phone as to whether or not you were selected to move forward to the next step in the process. Depending on the role and the number of applicants being considered this could take two-four weeks.
There are four rounds of the joining process of Bank of America. You must first pass the online test before proceeding to the telephonic interview, technical round, and HR interview. Online Assessment: This mostly consists of general logical reasoning and aptitude tests.
Bank of America has an overall rating of 3.9 out of 5, based on over 42,833 reviews left anonymously by employees. 76% of employees would recommend working at Bank of America to a friend and 71% have a positive outlook for the business.
The acceptance rate for the Bank of America Student Leaders Program is between 5 and 8%. The program is fully-funded, offers a stipend, and provides its participants with enriching opportunities, making it one of the most prestigious internships for a high school student in the summer.
How long will it take to open an account when I apply? Your application will be processed in 1 to 2 business days. We'll send you either an email or letter letting you know if you are approved for your account. You will receive your account documents via U.S. Mail within 7-10 business days.
The bank had an acceptance rate of 0.33% for all applicants last year. Luckily, the internship was slightly easier to get into – 1.27%. Every little helps, we suppose. If you want to get into banking, you need to work very hard, exhaust every opportunity you have, and really, genuinely, be a little bit lucky.
To pass a bank interview, research the bank's values, understand the banking industry, and practice common interview questions. Showcase your relevant skills, emphasize your customer service orientation, and demonstrate your understanding of financial regulations. Dress professionally and exhibit a positive attitude.
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The average Bank of America salary ranges from approximately $38,000 per year for Senior Client Services to $154,715 per year for Senior Data Architect. Average Bank of America hourly pay ranges from approximately $15.55 per hour for Vendor Manager to $66.63 per hour for Salesforce Developer.
You'll be treated as retiring under The Bank of America 401(k) Plan if, when your employment ends, you have at least 10 years of vesting service and your age plus years of vesting service equal at least 60.
Eligible U.S. employees can receive company matching contributions to their 401(k) Plan — up to 5% of eligible pay — plus, an annual company contribution of 2% or 3% of eligible pay (based on years of service).
Demographic information on Tellers in the US. The workforce of Tellers in 2022 was 282,843 people, with 83% woman, and 17% men. The average age of male Tellers in the workforce is 28.8 and of female Tellers is 37.4, and the most common race/ethnicity for Tellers is White.
When will my funds be available? Deposits made to a Bank of America account are not available for immediate withdrawal. Unless a hold is placed, deposits on a business day before cutoff time will be processed that night and are generally available the next business day.
On average, the hiring process lasts three to six weeks. Factors determining the hiring process length include the position level, the number of applicants, and the hiring manager's experience level. Recruiters and hiring managers consider the candidate's experiences and how those relate to the position when decidin.
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