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Private Bank Associate (Wash DC, McClean, VA or Chevy Chase, MD)
Bank of America Washington, DC
Full Time | Banking 6 Months Ago
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Bank of America is Hiring a Private Bank Associate (Wash DC, McClean, VA or Chevy Chase, MD) Near Washington, DC

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 clients needs and expectations across all products and serve 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 on-boarding 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 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 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 to 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

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Job Summary

JOB TYPE

Full Time

INDUSTRY

Banking

POST DATE

09/22/2022

EXPIRATION DATE

12/14/2022

WEBSITE

bankofamerica.com

HEADQUARTERS

FARMINGTON, NM

SIZE

>50,000

FOUNDED

1968

CEO

LINDA BOYCE

REVENUE

>$50B

INDUSTRY

Banking

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About Bank of America

Bank America is an insurance company based out of P.O. BOX 15292, Richmond, Virginia, United States.

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