Bank Of America Work Values

Daily Duties at Bank Of America:

• Process internal requests for Certificate of Deposits and Individual Retirement Accounts • Research request requiring assessing files, fiche, and various bank systems and interacting with internal and external business partners to locate account information • Resolve customer issues in a timely manner as well as meet daily quotas • Work on Model and California tax corrections dealing with the IRS compliance • Process distributions for Individual Retirement Accounts for both Foreign and domestic customers Other duties included: Policy & Procedure writing. Coach associates regarding procedures and policies, Work on Transfer Reports. Support our Sales & Fulfillment team by opening new CD and IRA accounts. Work within special team for bank mergers, Close CD/IRA accounts that are not in compliance with federal regulation. Process Conversions and Recharacterizations on Individual Retirement Accounts. Trained newer associates Situation: after the fiscal year was over our upper manager noticed a higher amount of accounts reporting incorrectly in which would result in the customer receiving a 1099R. with it being the first of January we only had 3 weeks until 100R would be generated and reported to the IRS. Action: in doing research I came to find out local banking centers were assisting customers in closing out IRA’s and using those funds to open better higher paying interest; this type of transaction was non-reportable transaction. However the banking centers were closing out IRA’s with the incorrect closing code, in which would generate 100R’s. Made system corrections to show transactions as an internal transfer Result: made correction so it would not negatively affect the customers and there taxes. By making corrections I saved the company a total of 850,000 dollars being reported on 1099R’s.

What they like about Bank Of America:

You highly value a work environment built on a formal structure, rules, and regulations. You do not enjoy the unpredictability of shifting priorities and deadlines that upset your routine. You require and enjoy direction, input and accountability as part of your work environment. You have a strong need to participate in making key decisions and feel left out if your superiors or co-workers do not seek your input when making decisions. You thrive on providing good customer service to both internal or external customers, and doing so makes you feel good.

Tags

Finance/Banking, Financial Analyst, Vendor Management

Skills

P&L responsibilities, Presentation, Ecommerce Strategy and digital marketing channels optimization - SEO, SEM, email, affiliates - for high-profile accounts., Technology Solutions, Sales Support, Software Implementation, Requirements Analysis & Specification, Leadership , Analytical, multi-task, Team Player

These are some of the questions we asked our climbers about their experiences with Bank Of America: