U.S. Trust, 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.
U.S. Trust 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. U.S. Trust employs more than 4,100 professionals and maintains 135 offices in 33 states.
Summary of Position:
The New Business Development Analyst is responsible for providing new business development support to Private Client Advisors (PCAs) within dedicated market(s). This is accomplished through a combination of proactive and reactive prospecting strategies developed by Market leaders, PCAs and/or the Lead Generation Team.
As the centralized resource for all the advisors in a market he/she will act as an extension of the client teams for all things related to prospecting across their supported market. This would include providing proactive leads through daily BAU strategies, assisting with execution of advisors business development plans, navigation and accurate communication of Bank of America prospect coverage, providing guidance on regulations to individual privacy restrictions and related U.S. Trust policies, and having extensive knowledge of tools used to identify and validate new prospects.
In addition the New Business Development Analyst will be responsible for thoroughly knowing each advisors business strategy including connectivity to networks both internal and external to Bank of America, niches and primary areas of focus to assist with prospect assignment as well as generating prospecting ideas to teams proactively.
Lastly this person will be responsible for reporting results periodically to leadership to drive follow-up, provide guidance on focus areas, compile and share best practices and assist with training to increase consistency around research, output and overall success.
High Capacity Executer:
Can drive results and routines and hold others accountable
Strong time management, organizational skills and an ability to prioritize
Synthesizes information effectively to create compelling presentations/documents (strong PowerPoint and Excel capabilities)
Communicates clearly and concisely, both verbally and in writing
Collaborates effectively with peers and partners
Well versed in U.S. Trust capabilities and solutions, industry service practices and trends, online/mobile environment
Thorough knowledge of UST/fiduciary client and risk/oversight functions and products
Deep understanding of business strategy
Judgment & Decision Making:
Experienced with both quantitative and qualitative analysis, ability to leverage data to inform sound judgment and business decisions
Client centric mindset; looks at all sides of an issue with the client's lens at the forefront
Effectively balances growth focus with strong risk management mindset
Proactive Market Prospecting:
Execute proactive daily processes to identify new individuals/foundations for advisors to prospect (Ex: Comp. sales, IPOs, Venture Capital, life events, vetting internal referrals, etc)
Assign leads with leadership by using the broad knowledge of the market and advisor connectivity
Accurately and concisely communicate background and potential outreach options to both leaders and advisors
Assist leaders with critical prospecting projects, marketing events and sponsorship review
Advisor Prospecting Strategy Execution:
Develop, organize and prioritize projects with individual advisors
Become a strategic advisor to PCA through deep understanding of niches, network and business plans
Schedule periodic status updates to drive ideas to completion (both successful and unsuccessful)
Reactive Advisor Research:
Provide critical research to prospects, companies or current clients (banking only or CORE) identified by advisors
Determine level of information required (coverage only, brief bio or full dossier) and deliver a concise summary to sales teams
Systematically track and centrally store proactive and reactive research completed
Update leadership on overall market projects, activities, opportunities and wins
Build and maintain database of intelligence to assist with identifying connectivity and paths to introductions
Develop user guides for the market to equip PCA/PCM/CSSOs to complete basic research/coverage on prospects
Compile and communicate best practices on successful lead outreach strategies
Posting Date: 09/20/2018
Location: Washington, DC, 1800 K St NW (DC1842), Chevy Chase, MD, Pbg, 5550 Friendship Blvd, - United States
Full / Part-time: Full time
Hours Per Week: 40
Shift: 1st shift
Bank Of America Corporation