Delaware Trust Officer II (DE TO II)

About the role

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. The Delaware Trust Officer II (DE TO II) is an expert in the administration of Investment Management and Trust accounts, responsible for faithfully executing our fiduciary duties as well as complying with all laws, regulations, policies, and procedures.

The Delaware Trust Officer II maintains a trust book of fiduciary and investment management accounts and works closely with national Private Bank and ML financial advisor teams to achieve strategic objectives. Primary responsibilities include the administration of the Delaware IM&T book and facilitating its growth in collaboration with client teams.

The role involves ensuring trust product awareness and education for clients and Private Bank associates, managing fiduciary risks, and adhering to trust policy.

Responsibilities

• Work with clients, their attorneys, and other professional advisors (including co-trustees, investment advisors, accountants, distribution advisors, and protectors) to understand comprehensive estate plans.
• Facilitate a collaborative team approach to provide superior client service.
• Respond to beneficiary requests for discretionary distributions, obtain supporting documents (e.g., tax returns, budgets), and prepare distribution requests outlining trust provisions.
• Make recommendations on exercising discretionary powers pursuant to governing instruments and confer with co-trustees for approval.
• Communicate decisions to clients.
• Minimize account risk by analyzing trust documents and performing annual account reviews for compliance with trust provisions, state and federal regulations, and trust policies.
• Utilize risk management tools such as overdraft reports and daily transaction reports.
• 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 governing instruments, and ensure proper setup of account records (payments, fee schedules, tax records).
• Communicate with beneficiaries and co-trustees to outline administrative procedures.
• Coordinate with the Bank’s Tax Team, fund managers, and clients’ tax preparers to ensure timely completion of tax returns.
• Contribute ideas to improve systems and processes for delivering optimal client service.
• Mentor junior associates to support their growth and development.
• Adhere to the Bank’s core values: delivering together, acting responsibly, realizing the power of our people, and trusting the team.

Requirements

• 5 or more years of successful experience in trust administration, servicing, and managing fiduciary relationships with high-net-worth clients (or equivalent).
• Technical proficiency in fiduciary law, tax, investments, and administration.
• Detailed knowledge of how trusts function and are administered; prior experience with Delaware Directed Irrevocable Trusts preferred.
• Strong time management, organizational, and interpersonal skills.
• Excellent communication skills for client and advisor interactions.
• Ability to manage multiple priorities and projects.
• High school diploma or equivalent required; 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

Schedule

1st shift (United States of America), 40 hours per week.