Family Office Solutions Associate (New York, NY)

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Job description

Job Description:

Business Overview
Bank of America Private Bank, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship. The Private Bank is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. The Private Bank employs more than 4,100 professionals and maintains 135 offices in 33 states.
Job Description:
The Family Office Solutions Associate is a member of the Bank of America Private Bank Philanthropic and Family Office Solutions team responsible for delivering the Family Office Solutions platform to Ultra high net worth clients and their family offices. The Family Office Solutions platform houses client data from various custodial platforms, which feed client account activity into a vendor platform used for completing performance measurement analytics and accounting reports.
This role is responsible for product fulfillment and day-to-day service administration for one or more solutions developed to serve the Ultra High Net Worth / Family Office market. The Family Office Solutions Associate will be a dedicated resource to clients and will guide them through the on-boarding process, and work with the clients and their advisors to support ongoing needs. The Family Office Solutions Associate also supports prospecting efforts and communicates frequently with clients and members of the client's advisory team, including client advisors, client managers, portfolio managers, trust officers, estate planners, office managers, executive assistants and CFOs.
Responsibilities:

• The Family Office Solutions Associate is a qualified subject matter expert for Performance Measurement and reporting.
• The Family Office Solutions Associate will conduct proactive quality assurance, problem resolution and provide ongoing assistance to clients and their advisors with respect to performance analytics and accounting reports.
• Reporting support includes the production and review of cyclical and ad-hoc performance and accounting reports.
• Performance processes will be monitored and verified as appropriate with prompt resolution for all exception items.
• Frequent contact with clients and key stakeholders is required to research and to resolve performance data issues that are encountered.
• The Specialist is viewed as a leader and possesses intimate knowledge of team functions and the broader organization.
• As a subject matter expert, they handle elevated items and ad hoc issues while delivering superior customer service, promotes best practices across the group, and helps implement efficiency ideas and project enhancements.
• Additional responsibilities include:
  • Facilitating as needed web-ex/in-person meetings on platform capabilities
  • Serving as liaison between team and business/technology partners and other teams
  • Participation in pilots/lead testing initiatives for projects
  • Communication of performance/tool enhancements/known issues/best practices/etc. to team
  • Quality checking the work performed by team & outside vendors
  • Oversight of issue tracking and/or resolution
  • Preparing and updating policies and procedures
  • Actively leading / participating in Annual Procedure Reviews and Audits.

Required Skills:

• 5 years prior experience in the financial industry; experience working with institutional and/or high net worth clients plus
• 2 years of Archway ATWeb experience a must
• Knowledge of Performance Measurement/Reporting
• Proficiency with Excel, Work, PowerPoint and other similar applications
• Team player with ability to work independently
• Must have excellent interpersonal and collaboration skills
• Must have strong analytical and organizational skills
• Must be able to prioritize and manage multiple tasks simultaneously
• Must possess strong delegation skills and ability to manage up
• Ability to troubleshoot complex performance problems
• Strong communicative and relationship building skills
• High attention to detail

Desired Skills:

• Knowledge of Bloomberg
• Level 1 or 2 CFA, CIPM, or Series 7 preferred
• Bachelor's Degree in Accounting / Finance, Math or Statistics and 1-3 years of performance measurement desired

Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
--> Job Description:

Business Overview
Bank of America Private Bank, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship. The Private Bank is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. The Private Bank employs more than 4,100 professionals and maintains 135 offices in 33 states.
Job Description:
The Family Office Solutions Associate is a member of the Bank of America Private Bank Philanthropic and Family Office Solutions team responsible for delivering the Family Office Solutions platform to Ultra high net worth clients and their family offices. The Family Office Solutions platform houses client data from various custodial platforms, which feed client account activity into a vendor platform used for completing performance measurement analytics and accounting reports.
This role is responsible for product fulfillment and day-to-day service administration for one or more solutions developed to serve the Ultra High Net Worth / Family Office market. The Family Office Solutions Associate will be a dedicated resource to clients and will guide them through the on-boarding process, and work with the clients and their advisors to support ongoing needs. The Family Office Solutions Associate also supports prospecting efforts and communicates frequently with clients and members of the client's advisory team, including client advisors, client managers, portfolio managers, trust officers, estate planners, office managers, executive assistants and CFOs.
Responsibilities:

• The Family Office Solutions Associate is a qualified subject matter expert for Performance Measurement and reporting.
• The Family Office Solutions Associate will conduct proactive quality assurance, problem resolution and provide ongoing assistance to clients and their advisors with respect to performance analytics and accounting reports.
• Reporting support includes the production and review of cyclical and ad-hoc performance and accounting reports.
• Performance processes will be monitored and verified as appropriate with prompt resolution for all exception items.
• Frequent contact with clients and key stakeholders is required to research and to resolve performance data issues that are encountered.
• The Specialist is viewed as a leader and possesses intimate knowledge of team functions and the broader organization.
• As a subject matter expert, they handle elevated items and ad hoc issues while delivering superior customer service, promotes best practices across the group, and helps implement efficiency ideas and project enhancements.
• Additional responsibilities include:
  • Facilitating as needed web-ex/in-person meetings on platform capabilities
  • Serving as liaison between team and business/technology partners and other teams
  • Participation in pilots/lead testing initiatives for projects
  • Communication of performance/tool enhancements/known issues/best practices/etc. to team
  • Quality checking the work performed by team & outside vendors
  • Oversight of issue tracking and/or resolution
  • Preparing and updating policies and procedures
  • Actively leading / participating in Annual Procedure Reviews and Audits.

Required Skills:

• 5 years prior experience in the financial industry; experience working with institutional and/or high net worth clients plus
• 2 years of Archway ATWeb experience a must
• Knowledge of Performance Measurement/Reporting
• Proficiency with Excel, Work, PowerPoint and other similar applications
• Team player with ability to work independently
• Must have excellent interpersonal and collaboration skills
• Must have strong analytical and organizational skills
• Must be able to prioritize and manage multiple tasks simultaneously
• Must possess strong delegation skills and ability to manage up
• Ability to troubleshoot complex performance problems
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