Wealth Management Summer Analyst Program – Retirement and Personal Wealth Solutions 2022

Job Description & Program Overview

Bank of America provides comprehensive wealth management solutions to affluent and high-net-worth clients through Merrill, Private Bank and Global Strategy & Enterprise Platform teams.

Within Global Strategy & Enterprise Platforms, the Retirement and Personal Wealth Solutions (RPWS) group is responsible for both personal retirement products such as annuities, IRAs, insurance, and 529s, and institutional retirement benefit programs, including 401(k)s, Fiduciary Advisory Services, Equity and Employee Stock Purchase Plans, Health Savings Accounts and Defined Benefit plans.   RPWS teams drive product development, support Advisors in selling these products and, in the institutional space, provide the sales, servicing and relationship management functions for our largest client relationships.  In addition, RPWS teams devise Benefit plan participant and employee engagement strategies and work with teams across Merrill Lynch Wealth Management, Private Bank, and Consumer banking and investing to drive new individual wealth management and banking relationships to the enterprise.  We are a unique division that represents a truly firm –wide learning experience across multiple lines of business, client segments, and job functions.

Our Wealth Management Summer Analyst Program is designed to offer you a structured 10 week internship including extensive on the job training, educational speaker events, coaching and mentorship. Analysts work on both an individual assignment and a group project, which culminates in a presentation to executive leadership. These experiences will broaden your exposure to the business, allow for individual contributions, and provide opportunities to develop team-working skills.  Throughout the program, interns will be aligned to one of these functional areas:

• Product management: Responsible for overall product performance and profitability. Monitors competitive and marketplace activity to set product strategy and prioritize product enhancements.  Builds business cases, works closely with tech partners to execute projects, and collaborates closely with sales organization to ensure effective distribution of products and services.

• Sales Support: These teams work with partners across the organizations – primarily Financial Advisors, Corporate and Commercial Bankers, and Small Business Bankers – to drive Institutional and Personal Retirement product sales.  Responsibilities include educating partners on product solutions, identifying and prioritizing opportunities, managing the sales process and leading client meetings.

• Client Service & Relationship Management: The client service and relationship management teams are the primary contact for RPWS institutional clients. The client relationship management team is responsible for providing ongoing relationship management leading all strategic work related to plan design, M&A activity, retention and relationship deepening for Defined Contribution, Equity, Health Account plans.  Team drives adoption and optimization of core capabilities. Client Services are the primary contact for support with day-to-day administration of Defined Contribution, Equity,  Health Account plans. Together, these teams play a critical role in delivering a best in class client experience and deepening client relationships within RPWS and Bank of America.

• Business Enablement: Manages and coordinates cross-RPWS functions such as Risk Management and Business Controls, governance processes and project management, Reporting and Analytics, and Communications.  Functions as the Chief Operating Officer organization for RPWS leadership.

Qualifications

Required:

• Bachelors or Bachelors direct to Masters degree program student with a graduation date between December 2022 and June 2023
• Demonstrated record of achievement and leadership
• Business knowledge and an interest in working in the financial services industry
• Excellent verbal and written communication skills
• Analytical and critical thinking skills
• Strong team-working and collaboration skills
• Intellectually curious and self-motivated
• Strong time management skills and attention to detail

Preferred:

• 3.2 minimum GPA preferred
• Technical skills such as Excel and PowerPoint

Bank of America is unable to consider candidates that will require visa sponsorship now, or in the future, for this specific role.

Travel: On needs basis

Full / Part-time: Fulltime

Hours Per Week: 40.00

Shift: 1st Shift