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Delaware Trust Officer II (DE TO II)

Wilmington, Delaware

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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!

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 advisors including 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 beneficiaries including request for discretionary distributions. Obtain supporting documents such as tax returns and budgets. Prepare discretionary distribution request outlining the dispositive provisions and other relevant language in the trust agreement and make recommendations regarding how the Trust Company should exercise discretionary powers pursuant to the terms of the governing instrument. Confer with co-trustee (if any) to obtain his/her approval. Communicate the 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 policy and procedure adherence. Utilize risk management tools, such as the overdraft report, daily transaction report, etc.

+ Communicate with investment advisors, portfolio managers, and financial advisors regarding 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 of how 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

Additional 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

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, 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.

View your **"Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) "** poster.

View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.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.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.