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About the Role
The Trust Senior Associate (TSA) is a specialist role assisting trust officers with all phases of trust relationship servicing and administration. The TSA will interact with Merrill Advisors (FAs) and their teams, clients and/or clients’ outside advisors directly or as a research resource. The TSA will coordinate the internal delivery of trust services through the appropriate channels within the Fiduciary Solutions and/or Trust Operations groups. Candidates who are detailed oriented, can work independently and have a willingness to learn the required skills for this role are viable candidates. Strong verbal and written communication skills are critical for this position, as it requires significant telephone and written interaction with clients, their Advisors and intermediaries.
Responsibilities
- Partner with client teams, business partners and centralized service teams to deliver Private Bank capabilities and solutions related to proactive client servicing such as meeting material preparation and family tree updates.
- Support a seamless client experience and timely responses by researching inquiries from clients, Advisors and Centers of Influence.
- Facilitate tax reporting process by researching cost basis, responding to internal requests for information, obtaining outstanding tax documents from external sources and furnishing tax documents as requested to clients and their personal tax preparers.
- Perform tasks necessary to mitigate fiduciary risks though multiple routines and processes including monitoring of cash balances, review of prior day activity reports, raising cash, Investment Policy Statement reviews/updates, Discretionary Action Form preparation and supporting documentation review, updating account coding, fee acknowledgement preparation, Deceased Client Notification process, account maintenance, Know Your Client refreshes, and monitoring of RMD status for IRAs and private foundations.
- Support ad-hoc administrative and strategic projects, prepare reports and conduct research.
- Adhere to Private Bank and Enterprise risk framework and comply with regulatory and legal requirements.
Requirements
- Minimum two (2) years experience in a client-facing or financial services operations role or Trust support experience strongly preferred.
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
Location
- Florham Park, NJ
- NEW YORK, NY
- White Plains, NY
Work Type
- Onsite
Education Level
- High School Diploma / GED / Secondary School or equivalent
- Bachelor’s degree preferred
Salary/Compensations
- $31.25 - $44.33 hourly pay
Benefits
- Discretionary incentive eligible
- Eligible for an annual discretionary award based on performance
- Industry-leading benefits
- Access to paid time off
- Resources and support
About the Company
- 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 and providing a culture of caring is core to how we drive Responsible Growth.
- We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success.
- This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
- We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences.
- These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
- Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development.
- Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
- At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.
- Join us!