Bank of America Careers NYC

Private Bank Associate

Job Details

Job Description

Business Overview

Bank of America Private Bank, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients’ wealth structuring, investment management, banking, and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration, and family trust stewardship. The Private Bank is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking, and retail brokerage. The Private Bank employs more than 4,100 professionals and maintains 135 offices in 33 states.

Private Bank Associate Job Description

The Private Bank Associate (PBA) is a generalist position that has primary responsibility for supporting all client needs including discussions and/or activities. PBAs monitor and execute all tasks required to fulfill the client service plan and meet day-to-day inquiries from the client.

The PBA manages the execution of client service activities such as initiating and monitoring account opening and asset transfers, handling client inquiries, and coordinating with specialists and service centers to deliver an integrated service to the client.

Responsibilities

• Actively support Client Teams in delivering consistently high-quality banking credit, trust, fiduciary, and investment services to Private Bank clients
• Support fulfillment of client’s needs and expectations across all products and services as a “triage” point for specialists and service centers including but not limited to account setup, monitoring and maintenance (overdrafts, fraudulent activities, etc.), wire processing, business and credit card applications, foreign currency orders, credit, and lending
• Coordinate with specialists including Trust, Family Office, Investments, and Custody officers as well as centralized service centers to deliver an integrated service to the client and identify and resolve issues in an effective and timely manner
• Initiate and monitor client onboarding including account opening and asset transfer; handle client inquiries related to the onboarding process; KYC refresh and ongoing requests, digital engagement, and fulfillment
• Interact with the client to complete necessary transactions (e.g., deposits, money movement, transfers, etc.) and account maintenance
• Manage and execute client transactions with respect to business and individual Bank, credit, and investment products (may be performed by the service center at PB Associate’s request based on transaction type). Ensure transactions are completed within audit and compliance standards as well as timely execution.
• Participate in Client Management Process (CMP) activities including supporting and delivering a branded client experience and meaningful interactions
• Develop referrals for credit and Bank products
• Support Client Team in all sales support and administrative functions as needed including pipeline reporting, marketing, and business development, client/prospect presentations, expenses, printing, faxing, calendar & email management, client events, communication, and travel & entertainment reservations
• Ensure adherence to all internal policies and compliance with legal and regulatory requirements including client verification

Qualifications

• Minimum of 1-3 years experience with a financial institution focusing on client service and sales
• Ability to successfully complete assessment of critical skills
• BS/BA degree in Business, Finance, or Economics desired