Fiduciary Initiatives Executive (Lawyer)

Bank of America

Bank of America

Jersey City, NJ, USA · pennington, nj, usa · United States · Remote
Posted on Wednesday, May 29, 2024

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

The Business Team:

The Fiduciary Programs and Platforms (FPP) Team is a dynamic, innovative, and forward-thinking team responsible for the management and development of Bank of America’s industry-leading fiduciary business, including the Merrill Lynch Investment Advisory Program (IAP) and its Merrill Lynch One platform. IAP comprises over $1.2+ trillion in client assets across 800k+ households, which generates ~$10B in annual revenue for Merrill Wealth Management. This team and our Fiduciary program offering are critical to help drive business growth and optimal investment outcomes for our clients. The primary focus areas of the team consist of providing support of the fiduciary program offering, including platform enhancements and modernization, improving product offerings & capabilities, identifying pricing opportunities, along with defining and implementing IAP oversight and program guidelines to help drive growth and efficiency across all client segments and advisors across the company.

Job Description:

The Fiduciary Initiatives Executive will provide strategic and regulatory support to leadership and team members in connection with Fiduciary Team projects in the ordinary course. He or she will work with Fiduciary Team members and across the Merrill organization to tackle legal, compliance and regulatory issues as part of any strategic initiative or regulatory response. In addition, he or she will be responsible for coordinating disclosure updates affecting our ADV brochure materials and financial advisor and client communications.

Key Responsibilities:

  • Providing bespoke strategic input to Fiduciary business projects, initiatives and strategic developments
  • Develop disclosure and client approved materials relating to IAP and the other investment advisory programs we help to manage
  • Responding to regulatory changes and initiatives
  • Providing support to develop investment solutions that drive growth, while still managing risk.
  • Supporting and assisting other FPP LOB with other strategic initiatives from idea creation through execution & implementation
  • Managing product collateral such as enrollment documents, contract, disclosure documents, and procedure manuals
  • Addressing ad hoc requests and issues relating to Legal, Compliance, Risk & Audit inquiries and partnering with Operations and Technology to address ad hoc issues from advisors and clients.

Desired Skills:

  • JD degree
  • Series 7 and 66 (must be obtained within 120 days)
  • At least 10+ years of financial services experiences
  • At least 4+ years of legal experience covering the financial services industry, ideally with coverage of Investment Adviser’s Act issues and regulation, disclosure requirements and analysis of legal and compliance issues
  • Comfortable and capable of working with multiple business groups and with legal, compliance and risk partners
  • Ability to present information and findings to senior executives, front-office teams and leadership, and LOB partners and communicating with them at their level of analytical/technical understanding
  • Plain-English writing ability or willingness to adapt to that communication approach


1st shift (United States of America)

Hours Per Week: