Fiduciary Trust Settlement Specialist

Bank of America; Chicago (IL); On-site; USD 85,000 - 104,000; Full time

Benefits offered by this job

Discretionary incentive plan

Industry-leading benefits

Job summary

Bank of America is seeking a Settlement Officer to manage and settle terminating trusts, coordinating with Attorneys, CPAs, Fiduciary Accountants and internal teams for timely administration.

You will coach and mentor junior staff, monitor progress, and ensure high-quality client communications while managing risk in a fast-paced environment in Chicago. JD or paralegal background preferred, strong multitasking is essential.

Qualifications

• BS/BA degree or equivalent experience; JD preferred.
• Professional designation in Paralegal studies and prior Trust, Estate, and/or Tax experience preferred
• Strong communication and organizational skills
• Ability to work in a fast-paced environment where multi-tasking and prioritization is a necessity
• Works well as an individual contributor and member of a team
• Proficient use of Microsoft Office
• Ability to learn and apply new technology and systems

Responsibilities

• The Settlement Officer is accountable for independently facilitating, managing, and settling trust terminations that require expertise and knowledge of fiduciary rules and regulations in a fast-paced, high-volume environment.
• The Settlement Officer Assigns tasks to Specialized Fiduciary Administrators, monitors progress and approves completed work. Responsible for coaching, developing, and mentoring administrators and junior level officers within the Trust Settlement team.
• Works closely while simultaneously building and maintaining relationships with internal business partners including but not limited to: Client Team, Office of the Chief Fiduciary, Administrative Resource Team (ART), Audit, Compliance, Fiduciary Tax Services, Specialty Asset Management (SAM), Trust Operations, Fiduciary Tax Services (Tax), Portfolio Managers, etc., as well as external parties (Attorneys, CPAs, and Fiduciary Accountants).
• Monitors the settlement process and task completion to ensure accurate, timely and efficient administration, and to proactively manage business risk.
• Maintains high quality communications with beneficiaries and internal partners, with a primary focus on timely execution and client satisfaction.
• Ability to proactively identify and resolve issues.
• Acts as a technical resource to colleagues within and outside of Trust Settlement team.
• May be called upon to handle tasks delegated by Trust Settlement Manager or Director.

Skills

Account Management

Customer and Client Focus

Oral Communications

Risk Management

Written Communications

Collaboration

Decision Making

Issue Management

Prioritization

Problem Solving

Active Listening

Attention to Detail

Client Management

Process Simplification

Referral Identification

Education

BS/BA degree or equivalent experience; JD preferred

High School Diploma / GED / Secondary School or equivalent

Tools

Microsoft Office

Job description

Bank of America is seeking a Settlement Officer to manage and settle terminating trusts, coordinating with Attorneys, CPAs, Fiduciary Accountants and internal teams for timely administration.

You will coach and mentor junior staff, monitor progress, and ensure high-quality client communications while managing risk in a fast-paced environment in Chicago. JD or paralegal background preferred, strong multitasking is essential.