Senior Trust Officer

3 weeks ago

Boston, Massachusetts, United States Bank of America Full time

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 Senior Trust Officer maintains a book of fiduciary and investment management accounts. Primary responsibility is the administrative and business development of the most complex IM&T (Investment Management and Trust) accounts. Works with the Market Trust Executive to assure trust product awareness and education of clients, associates and COIs (Centers of Influence.)

Works with typically large and complex high net worth clients and beneficiaries involving multi-generational families. Handles regulatory and compliance driven procedures governed by the OCC. Involved with new business development activities with a focus on estate/financial planning and the Bank s fiduciary platform

Job Description:

The Senior Trust Officer (STO) maintains a trust book and is a seasoned Trust Officer in the market. STO works closely with local Private Bank teams to achieve strategic objectives of PWM market overall. The STOs primary responsibility is the administration and business development of the IM&T book. The STO will have a complex book of business and will be expected to deepen his or her relationships through estate and financial planning. STO leads, and is accountable for, trust product sales and working with MTE, MTTL or TTL to assure trust product awareness and education of clients and Private Bank associates in market. Responsible for the STO books management of fiduciary risks and trust policy adherence. Well-respected internally and externally with proven ability to partner effectively.

Partner with PCAs to drive business development / close new Trust business in prospecting activitiesProactively identify and harvest opportunities to deepen relationships within current client baseMeet with key clients periodically to maintain relationships and identify issues / new business opportunities, and provide trust, estate, and wealth transfer planning adviceProactively engage other specialists within Bank of America s Private Bank to best meet client needs (wealth strategists, Office of Chief Fiduciary, etc.)Proactively identify and resolve client issuesEngage in high level trust administration; oversee all administration activitiesDocument interpretationOversee risk management activitiesIdentify at risk clients; proactively resolve issues / meet with at-risk clients as needed to drive retention
Requirements:Bachelor s Degree and a minimum of 5 years of trust administration and estate planning experience, preferred.Fiduciary professional with CTFA, CFP, AEP, JD, or CPA (or 6 months away from obtaining certification), preferred.
Key attributes / competencies:Technical expertise in the areas of trust administration, fiduciary law, and estate and wealth transfer planningInitiative/proactive approach to problem solvingCreative though prudent approach to providing solutions within Bank s risk/reward profileAbility / drive to ask for the order to close salesGood people/partner communication skills / team playerKnowledge of policies, procedures, regulatory requirementsHigh level of savvy and sophistication re: high net worth clients concerns / issuesAbility to communicate and connect with high net worth clientsSkills:Business DevelopmentClient ManagementCustomer and Client FocusRisk ManagementWealth PlanningClient Experience BrandingClient Solutions AdvisoryDecision MakingPresentation SkillsProcess ManagementAttention to DetailCritical ThinkingFinancial AnalysisPlanningProspectingShift:1st shift (United States of America)Hours Per Week: 40

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