Delaware Trust Officer II (DE TO II)

Bank of America; Wilmington (DE); Sur place; USD 95 000 - 135 000; Plein temps

Résumé du poste

Bank of America is seeking a Delaware Trust Officer II in Wilmington to manage fiduciary relationships and administer Delaware trusts in collaboration with Private Bank teams. The role emphasizes expert trust administration, compliance with laws and policies, and proactive client service.

The candidate should have 5+ years in trust administration, solid knowledge of fiduciary law and tax matters, and a degree (CTFA/JD preferred).

Qualifications

• 5+ years of experience in trust administration, managing fiduciary relationships with high-net-worth clients (or equivalent).
• Proficient in fiduciary law, tax investments and administration.
• Bachelor’s degree or equivalent experience preferred.
• CTFA or JD preferred.

Responsabilités

• Work with clients, attorneys, and professional advisors to understand the estate plan and provide superior service.
• Respond to beneficiary requests for discretionary distributions and prepare supporting documents.
• Perform annual trust reviews to ensure compliance with provisions and regulations.
• Coordinate with investment and tax teams for timely reporting and optimization of trust assets.
• Open and set up trust accounts with proper recordkeeping and documentation.
• Mentor junior associates and contribute to process improvements.
• Uphold the bank’s values of delivering together and acting responsibly.

Connaissances

Teamwork

Communication

Fiduciary law

Tax compliance

Relationship management

Mentoring

Problem solving

Formation

Bachelor’s degree or equivalent

CTFA or JD preferred

Description du poste

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!

Delaware Trust Officer II (DE TO II), Wilmington, DE -

The Delaware Trust Officer is an expert in the administration of Investment Management and Trust accounts and responsible for faithfully executing our fiduciary duties as well as complying with all laws, regulations policies and procedures.

The Delaware Trust Officer II (Delaware TOII) maintains a trust book of fiduciary and investment management accounts. The Delaware TO II works closely with national Private Bank and ML financial advisor’s teams to achieve strategic objectives of the PWM markets overall. The Delaware TOII's primary responsibilities are the administration of the Delaware IM&T book, as well as, working with the client teams to facilitate Delaware Trust Book growth. The Delaware TO II works with the PCA/Client Team or ML financial advisors and/or national MTE, MTTL or TTL to assure trust product awareness and education of clients and Private Bank associates in the markets. Responsible for the Delaware TO II book, management of fiduciary risks and trust policy adherence. Must have the ability to partner effectively.

Job Description

• Work with clients, their attorneys and other professional advisorsincluding co-trustees,investment advisors,accountants, distribution advisors, and protectors to understand the comprehensive estate plan. Facilitate a collaborative team approach to provide superior client service.
• Respond to requests from beneficiariesincluding requestfor discretionary distributions.Obtain supporting documents such as tax returns and budgets.Prepare discretionary distribution requestoutlining the dispositive provisions and other relevantlanguage in the trust agreement and make recommendations regarding how the Trust Company shouldexercise discretionary powerspursuant to the terms of the governing instrument. Confer with co-trustee (if any) to obtain his/her approval.Communicatethe decision to client.
• Minimize account risk by analyzing trust documents and performing annual account reviews for compliance with trust provisions, state and federal regulations, and trust policyand procedureadherence.Utilize risk management tools, such as the overdraft report, daily transaction report,etc.
• Communicate with investmentadvisors,portfoliomanagers, andfinancialadvisorsregarding investment matters and liquidity needs.
• Work with the Account Opening Group to open trust accounts. Interpret the governing instrument to ensure the proper set-up of account records, including payments, fee schedules and tax records. Communicate with beneficiaries and co-trustees to outline administrative procedures.
• Must have detailed knowledge ofhow trusts function and are administered. Prior experience administering Delaware Directed Irrevocable Trusts is preferred.
• Need to be detail-oriented and be able to manage multiple priorities and projects. The trust officer should have excellent time management and organizational skills. Since the trust officer will interact with clients and their advisors, the trust officer should also have very strong communication and interpersonal skills.
• Must be able to effectively coordinate with the Bank’s Tax Team, various fund managers, and the clients’ personal tax preparers to ensure information is shared with the appropriate parties for timely completion of the applicable tax returns.
• Eager to contribute ideas to continuously improve systems and processes to ensure we can deliver the best possible service for our clients.
• Willing to mentor junior associates to help with their growth and development.
• Adhere to the Bank’s core values of delivering together, acting responsibly, realizing the power of our people, and trusting the team.

Key Skills

• Excellent ability to work in team environment
• Strong communication and influence / partnership skills
• Significant knowledge of the legal, tax, investment, and compliance aspects of fiduciary administration. Able to fully understand and follow the teams of governing documents
• Demonstrated accuracy and completeness in all tasks and follows up as appropriate
• Comfortable serving in an advisory capacity to clients and families
• Values the establishment and nurturing of long-term client relationships
• Dedicated to delivering excellent customer service

Qualifications

• 5 or more years of successful experience in trust administration, servicing and managing fiduciary relationships with high-net-worth clients (or equivalent)
• Technically proficient in fiduciary law, tax investments and administration
• Bachelor’s degree or equivalent experience strongly preferred
• CTFA or JD preferred

Skills

• Account Management
• Analytical Thinking
• Attention to Detail
• Client Management
• Customer and Client Focus
• Active Listening
• Collaboration
• Critical Thinking
• Prioritization
• Relationship Building
• Mentoring
• Oral Communications
• Organizational Effectiveness
• Problem Solving
• Written Communications

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent.

For internal employees: participation in a work from home posture does not make you eligible to post.

Shift: 1st shift (United States of America)

Hours Per Week: 40