Settlement Officer II - Estate Settlement

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

Accountable for managing and settling estates and/or terminating trusts requiring a degree of technical expertise and knowledge in estate and trust administration. Coordinates with and assigns tasks to Settlement Administrators, monitors progress and approves completed work. Assists manager and senior officers in coaching, developing, and mentoring associates within Settlement team. Responsible for coordinating information and activities with external business partners and internal business and support partners to ensure accurate, timely and efficient administration of assigned cases, and to manage business risk. Maintains high quality, professional communications with beneficiaries and co-fiduciaries, with focus on client satisfaction and asset retention.

Job Description:
 

• The Settlement Officer is accountable for facilitating, managing, and settling estate and 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 Estate Settlement team.
• Works closely while simultaneously building and maintaining relationships with internal business partners including but not limited to:  Client Team, Financial Advisors, 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 Estate Settlement team.
• May be called upon to handle tasks delegated by Estate Settlement Manager or Director.

Desired Qualifications:

• BS/BA degree or equivalent experience
• JD or Professional designation in paralegal studies preferred
• 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

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

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

Shift:

Hours Per Week: