Employee Benefits Specialist
Retirement & Personal Wealth Solutions (RPWS) serves the core financial needs of individual clients and plan participants by connecting our capabilities across the firm. RPWS is responsible for the development and execution of a comprehensive set of personal wealth and retirement products and services through Banking, Merrill Edge and Advisory channels. RPWS provides tools and content that enables financial advisors and bankers to help their client's live better financial lives.
The Employee Benefits Specialist will partner with Banking Relationship Managers (Business, Commercial) to identify benefits sales opportunities and drive growth across Defined Contribution (DC), Defined Benefits (DB), Nonqualified Defined Contribution (NQDC), Equity, and Health Benefits Solutions (HBS) products in a specified geographic region. They will also be aligned to a geographic region of retirement-designated Advisors to drive business development and execution. Specific responsibilities include:
Business Identification & Development:
Leverages data analytics on existing bank portfolio of clients to identify client engagement opportunities
Engages in business development activities with Advisors to promote the benefits of retirement plan business, construct strategic prospecting plans and prepare Advisors for effective client engagement from point-of-sale through the duration of the relationship
Communicates sales targets and shares measurement metrics to align Banking Relationship Managers and Merrill designated advisors toward goal achievement
Coordinates and promotes Local Market Events (e.g. HR Symposiums)
Manages pipeline of active deals with precision and records all high-value activities performed into CRM tool
Leverages client management process and prescriptive prioritization of client interactions
Partners with Banking Relationship Managers for initial introduction to clients and prospects
Prepares and delivers client presentations in partnership with Relationship Managers and retirement designated Advisors from Discovery to Finals stage, and offers guidance through the on-boarding process to ensure an optimal client transition experience
Effectively manages multiple facets of the sales process including meeting coordination, RFP responses, product comparisons, proposals, follow-up items/activities, etc.
Engages with Banking and Advisory leaders to best align activities with shared goals, to optimize business results through a collaborative partnership
Continued Growth & Relationship Management:
Develops partnerships with key Bank of America stakeholders to drive issue resolution and deliver marketplace intelligence to assist with product evolution
Identifies and engages local market teams for servicing and remains engaged with HR on proactive relationship management and client relationship deepening opportunities.
Promotes product enhancements/capabilities with key stakeholders to ensure an on-going optimized client experience for Institutional Retirement clients
Bachelor's Degree Strongly Preferred
Must have Series 7, 63/65 or 66 licenses (or ability obtain within Compliance Deadline)
Life & Variable Insurance licenses required (or ability obtain within Compliance Deadline)
10 years of Retirement or Benefits experience, of which five or more should be sales related
Strong financial aptitude
Superior technical expertise in retirement plans and/or benefits plans required, with a strong acumen of the competitive landscape
Ability to communicate complex information to a wide variety of personnel in a clear, concise and well-organized manner
Strong interpersonal/rapport building skills are required to build relationships with banking partners and prospective clients and to enhance Bank of America's brand in the Retirement and Employee Benefits marketplace
Proficiency in use of MS Office suite of tools
Familiarity with managing activities and pipeline in a CRM tool (experience with SalesForce.com is preferred)
Approximately up to 75% travel (within specified territory)
Note: This position can be filled throughout the U.S.; however, the main area of interest resides in West, Midwest and Texas Mountain South regions.
1st shift (United States of America)
Hours Per Week:
Bank Of America Corporation