Estate Settlement Officer III - New York New York

Company: Bank of America
Location: New York, New York
Posted On: 05/09/2024

Estate Settlement Officer III

Waltham, Massachusetts;Providence, Rhode Island; Melville, New York; New York, New York

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 Description:

Accountable for managing and settling the larger, more complex estate and/or terminating trusts that require a higher level of technical expertise and knowledge. Assigns tasks to the Settlement Assistants, monitors progress and approves completed work. Will be responsible for coaching, developing, and mentoring assistants and junior level officers within the Settlement team. Builds and maintains relationships with external business partners (Attorneys, CPAs, and Fiduciary Accountants), and coordinates communication with internal support partners (Tax, Compliance, SAM, ART), to ensure accurate, timely and efficient administration, and to manage business risk. Participates in sales calls as needed, offering Settlement expertise. Maintains high quality communications with beneficiaries, with focus on client satisfaction and asset retention. Acts as a technical resource to colleagues within and outside of Settlement team. BS/BA required. Advanced degree or professional designation a plus. Non-licensed associate.

Responsibilities:

Assigns tasks to the Settlement Assistants, monitors progress and approves completed work.

Responsible for coaching, developing, and mentoring assistants and junior level officers within the Settlement team.

Builds and maintains relationships with external business partners (Attorneys, CPAs, and Fiduciary Accountants), and coordinates communication with internal support partners (Tax, Compliance, SAM, ART), to ensure accurate, timely and efficient administration, and to manage business risk.

Maintains high quality communications with beneficiaries, with focus on client satisfaction and asset retention.

Accountable for managing the larger, more complex probate estates and deceased grantor trusts that require a higher level of technical expertise and knowledge in estate and trust administration.

Responsible for increasing estate revenue by developing and maintaining partnerships with Private Wealth Management business partners and through referrals from other business lines.

Participates in sales calls as needed, offering Estate Settlement expertise.

Coordinates communication with internal support partners (Tax, Compliance, Real Estate, Private Business Group) to ensure accurate, timely, and efficient administration and to manage business risk.

Builds and maintains relationships with external business partners (Attorneys and CPAs) and other organizations to promote awareness of Estate Settlement Services.

Acts as a technical resource to colleagues within and outside of Estate Settlement team.

Will involve responsibility for coaching, developing, and mentoring assistants.

Desired Skills:

BS/BA or equivalent experience required

JD, advanced degree and/or certifications preferred

Minimum of 2-3 years of personal trust/estatesettlement/investmentrelated experience

Excellent interpersonal and technical skills

Demonstrates excellent oral, written, and presentation skills

Exceptional organizational skills

Ability to work in a fast-paced, multi-task environment with minimum supervision while demonstrating teamwork and delivering client satisfaction

Proficient in Microsoft Office programs including Word and Excel

Knowledge of probate administration (multi-state), fiduciary income tax, and estate taxes preferred

Knowledge of Bank of America's proprietary trust systems a plus

Position will require periodic,overnight/multi-nighttravel

Skills:

Account Management

Customer and Client Focus

Oral Communications

Risk Management

Written Communications

Collaboration

Decision Making

Issue Management

Prioritization

Problem Solving

Attention to Detail

Client Management

Mentoring

Process Simplification

Referral Identification

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .

To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America's Drug-free workplace and alcohol policy, CLICK HERE . More...

Register an account with us and set up job agents! We'll email you immediately when jobs like this are posted on our site.