• Job Description

  Req#: 24019148

  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!

  The Fiduciary Programs and Platforms (FPP) Team is a dynamic, innovative, and forward-thinking team responsible for the management and development of Bank of America’s industry-leading fiduciary business, including the Merrill Lynch Investment Advisory Program (IAP) and its Merrill Lynch One platform. IAP comprises over $1.2+ trillion in client assets across 800k+ households, which generates ~$10B in annual revenue for Merrill Wealth Management. This team and our Fiduciary program offering are critical to help drive business growth and optimal investment outcomes for our clients. The primary focus areas of the team consist of providing support of the fiduciary program offering, including platform enhancements and modernization, improving product offerings & capabilities, identifying pricing opportunities, along with defining and implementing IAP oversight and program guidelines to help drive growth and efficiency across all client segments and advisors across the company.

  Job Description:
  The IAP Variance & Business Support Associate role is responsible for managing the day-to-day activities for a domestic discretionary or non-discretionary, advisory product, which may include managing a product within the brokerage or institutional offering. Responsibilities may include managing strategic initiatives from idea creation through execution & implementation, enhancing the investment offering, overseeing the client experience, such as client exception requests and billing concerns, Manage and address adhoc requests and issues relating to Legal, Compliance, Risk & Audit inquiries, Manage product collateral such as enrollment docs, contract, disclosure documents, and procedure manuals, partner with Operations and other ad hoc issues.

  This position will play an important role in supporting Merrill Lynch Financial Advisor teams (FAs) and their clients in the Merrill Lynch Investment Advisory Program (IAP) with guidance and strategies to maintain alignment with the enterprise risk framework. This role will proactively work with FAs and their teams to identify opportunities to streamline their IAP business and assist in managing emerging or existing risks by periodically reviewing their IAP business and Fiduciary Dashboard, sharing best practices, recommending solutions, and following through to resolution. This role will also be responsible for reviewing and assisting with accommodation requests from FAs where a client has specific or unique needs regarding the firm’s fiduciary programs.

  Responsibilities:

  • Proactive review of IAP variances to help identify best resolution path; close collaboration with Merrill Lynch Wealth Management OMT and outreach to FAs and their teams
  • Provide training and coaching regarding best practices and awareness items to FAs and their teams
  • Support the intake process for client accommodation requests that are outside of the IAP guidelines, via the Fiduciary Dashboard
  • Facilitate client accommodation requests with Central Supervision and ISG product management teams by outlining key facts and circumstances
  • Provide reporting & status updates (ongoing) to leadership and various governance forums
  • Identify emerging themes related to IAP variances, and client accommodation requests for further automation or scalability
  • Support broader IAP platform initiatives as an SME and/or project management support

  Required Qualifications:

  • Series 7 and 66 registration within 120 days of hire
  • 5+ years of experience in the Financial Services industry; preferably in Wealth Management and/or Private Banking focusing on ultra-high net worth clients
  • Knowledge of investment and banking products, policies & procedures
  • Exceptional communication, time management and organizational skills
  • Demonstrated ability to proactively & efficiently problem solve under pressure in a fast-paced environment
  • Ability to apply sound judgment to make decisions both independently and in collaboration with other team members in a “committee” format
  • Strong client service and technical skills (MS Excel & Word)

  Desired Qualifications:

  • Familiarity with the business and regulatory landscape of Fiduciary Programs, and ideally the Merrill Lynch Investment Advisory Program (IAP)
  • Previous experience within a Merrill Lynch branch office environment

  Skills:

  • Collaboration
  • Issue Management
  • Presentation Skills
  • Product Design and Development
  • Project Management
  • Agile Practices
  • Continuous Improvement
  • Critical Thinking
  • Quality Assurance
  • User Experience Design
  • Adaptability
  • Change Management
  • Data and Trend Analysis
  • Executive Presence
  • Problem Solving

  Minimum Education Requirement: Bachelor's Degree in related field

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

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