Working for Bank of America: Employment, Careers, and Jobs
If you are looking to work for the Bank of America, this post will help you learn a great deal about careers, jobs, and employments at the company.
Incorporated on July 31, 1998, Bank of America Corporation is a financial institution that serves individual consumers, small and middle-market businesses, institutional investors, corporations, and governments with a range of products and services.
Through the company’s banking and non-bank subsidiaries throughout the United States and in international markets, it provides a variety of banking and non-bank financial services and products through its business segments such as Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, Global Markets, and others.
Why Work for Bank of America
At Bank of America, BoA, customers are taken care of and the opportunity to achieve your career goal is provided.
You’ll also get opportunities according to your skills and talents so you’re in the best position to succeed.
You’ll get the resources to shape the career that you’re working for, whether it’s by establishing a mentor, working with employee networks, or joining clubs and teams.
Careers and Jobs at the Bank of America
You will find a variety of careers and jobs available at BoA, these include:
- Administrative /Clerical
- Administrative Assistant
- Business Support Manager
- Executive Assistant
- Credit /Lending
- Credit Analyst
- Fraud Analysts
- Credit Services
- Customer Service
- Call Center Customer Service Representatives
- Trust Services
- Enterprise Services/Facilities Management
- Real estate
- Construction Management
- Portfolio Management
- Workplace Strategy
- Relationship Manager
- Corporate Finance
- Finance Reporting, Planning, Business Analysis
- Accountant & Tax
- Business Finance Support
- Trust Services
- Investor Relations
- Human Resources
- Compensation and Benefits
- Diversity & Inclusion
- Workforce Analytics, Reporting and Planning
- Investment Banking & Markets
- Analysts Investment Banker
- Corporate Banker
- Assessment Asset Manager
- Credit Manager
- Trading & Sales
- Investment Banking Risk
- Portfolio Manager
- Wealth Manager
- General Counsel
- Brand Communications
- Corporate Events
- Public Relations
- Trading Operations
- Middle Office Operations
- Cash Vault
- Data Entry
- Machine Operator
- Operations Manager
- Product Manager
- Project Management/Analysis
- Change Manager
- Project Manager
- Relationship Management
- Asset Manager
- Community Development
- Financial Advisors
- Product Solutions
- Real Estate
- Risk /Compliance /Audit
- Compliance Specialist
- Risk Analyst
- Investigation and Fraud
- Investment Sales
- Trade/Treasury Management
- Information Security Consultant
- Technology Service Delivery
- Systems Architect
- Technology Project Manager
- Testing Lead & Quality Assurance
Training and Development Programs at the Bank of America
Bank of America is a company that recognizes the benefits of professional training and development throughout your career.
The bank also makes career growth and development a priority by providing you with both traditional and cutting-edge learning and development resources for every stage of your career.
New hires receive a welcome package and are guided end-to-end through the on-boarding process with communications, guides, and an internal on-demand website.
With the availability of basics within your reach, you’ll find skill-based resources and competency to support ongoing professional development.
There are choices available from learning through instructor and via web-based training to ebooks, videos, and everything in between to ensure you can access what you need when you need it to grow your career, no matter how you prefer to learn.
There are development plans for employees considering a management path at BoA. New managers, experienced managers and executives all receive the support needed to grow in their current roles and prepare for future opportunities through Manager Excellence and a variety of other resources.
In order to meet managers’ preferred and global schedules, many courses are offered virtually or on-demand.
Access to experts and peers, diverse points of view and valuable lessons learned, are provided by panels on a variety of managerial, business and professional topics.
At the Bank of America, internal resources and access to external expertise support your career growth. As part of how you should succeed in your career, you need to have regular conversations with your managers about career aspirations.
The Bank of America partners with you to support success in your current role while building the skills necessary to position you to meet your future career goals.
The bank provides the resources to help you reach your full potential throughout your career! There are plenty of self-directed online courses, internal or through external partners.
The Bank of America job training is done on site, and it’s literally the best onsite training program ever seen. They will make sure you know the process before you start by your own.
Bank of America Student Internship Program and Recruitment Process
The Bank of America internships provide great learning materials and how to apply what you’ve learned in the classroom to the real world.
The interns at BoA have the opportunity to meet people who will guide them through getting started in their career, while the program provides hands-on experience that helps them learn how to apply what they’ve learned in the classroom to the real world.
Many internship programs that are offered by the Bank of America include the Consumer Banking Summer Associate Program, Merrill Edge Investment Role, Summer Analyst, Banking Off-cycle Analyst, Global Corporate and Investment Banking Analyst training, and more.
Each of the Bank of America internships offers an exclusive opportunity to learn alongside industry influencers.
Sample Finance Internships Listings
Go through sample internships to get an idea of placements students have earned in earlier years. Placement of each student is customized to fit your experience level, career goals, and passions.
This includes administrative, marketing, finance evaluation and understanding statements and pricing plans; placement of advertisement, customer service.
Students will assist with marketing mailers, helping customers, creating proposals, bank statement review, etc.
Finance Internships US:
Strategies for Wealth utilize Building Economic Confidence, a process that aligns your past, present, and future financial decisions.
Through Building Economic Confidence and The Living Balance Sheet, your present financial world is being analyzed by the Bank of America.
Summer Finance Internships:
This hardcore internship will give you broad experience in Capital Financing. You will be given the opportunity to work directly with the Founder and Managing Partner and other Executive Directors, as an intern.
Summer Finance Internship:
For a college student to gain hedge fund operations, quant research and marketing experience in an energetic and dynamic workplace, Logica internship should be considered a best place.
Corporate Finance Internship:
As the Finance Intern in Finance Internship in Chicago, you will work in a corporate learning environment while assisting the company to meet business needs. The position requires a willingness to do a wide variety of tasks, prioritize, understand, and more.
Wealth Management Internship:
This internship program is a combination of wealth management, finance, and analyst roles. The intern will support the analysts and researchers that are involved.
This will be a position that enables the intern to assist with a variety of roles, gaining a multitude of perspectives and experience.
New York Wealth Management Internship:
With a focus on Asset Management & Risk Management, interns will be assisting in the day-to-day operations of a financial planning practice and in the research of securities and portfolio evaluation.
Real Estate Investing Internships:
The Real Estate Investing internship program will provide students with an inside view of an international investment advisory firm’s day to day operations.
The interns chosen will be responsible for a diversity of business development, marketing, analysis, and research initiatives.
Mortgage Broker Internship:
Responsibilities may consist of recruiting, employer on-boarding, inter-office communication, administrative tasks, office philanthropic event management, etc.
Corporate Culture and Values of Bank of America:
The culture of Bank of America comes from how their company is run on a daily basis. In the Company’s effort to grow in a strategic way, they commit more to acting responsibly which includes dedication to ethical behavior, acting with honesty and complying with laws, rules, regulations and policies that reinforce such behavior.
Bank of America cultivates and builds a strong and unified culture with thoughtful and purposeful action.
The bank works towards bringing together all their employees from various businesses, companies, and countries – to be aligned to the bank’s purpose of making financial lives better.
Bank of America establishes a culture built on integrity and ethical business conduct; and drives its culture and related expectations for conduct throughout the employee lifecycle – from hiring, to on-boarding, to training and development, to decisions on compensation and promotions.
The decisions behind performance management, compensation, and recognition programs of Bank of America are rooted in the company’s culture and in their conduct expectations for all employees.
The company also assesses its culture through employee engagement survey, sustaining an environment which values and supports employee perspectives.
BoA has the culture of managing risk well, which is foundational to their purpose and values, and to delivering responsible growth.
Culture of Making Financial Lives Better
The Bank of America makes financial lives better, and achieves their business strategy of responsible growth.
The Company brings their clients diverse viewpoints and experiences, and helps them to better serve their unique needs.
Their inclusive workplace implies that their employees can be themselves, achieve personal success, and contribute to the responsible growth of their company.
Some of the Ways that Bank of America makes Financial Lives Better Include:
- Delivering Together: At the Bank of America, clients and teammates are treated with respect to deliver, with discipline and passion.
- Acting Responsibly: The Bank of America believes in the integrity and the disciplined management of risk from the foundation of their business. Because the decisions and actions of Bank of America affect people’s lives on a daily basis, they strive for decisions that are clear, fair, and grounded in the principles of shared success, responsible citizenship, and community building.
- Realizing the Power of their Employees: BoA expects its employees to reach their full potential, respect every individual and value their differences – in thought, style, culture, ethnicity and experience.
- Trusting the team: The bank believes that the best outcomes are achieved when people work together across the entire company, and that great teams are built on mutual trust, shared ownership and accountability. The bank also believes that when they act and work together as one company, they best meet the full needs of their clients.
Job Application – How to Start a Career with Bank of America (the Hiring Process)
It takes one month to get hired at Bank of America. You should search and apply for the positions in which you are interested, possess the skills, and match the minimum job requirements.
The company’s recruiting team will review all applications and contact those who best suit the role. Also, if you are unsuccessful with your application, you will be notified.
During the application process, you will be required to present proof of identification, address, and eligibility to work.
Background checks, such as criminal record bureau, education, credit history, fraud database and references must be initiated for all external hires or rehires prior to start date, if at all an offer is extended.
Also required to complete additional compliance checks prior to their start date are applicants being hired to support certain lines of business.
An applicant’s details will be kept on file for review against future opportunities, if no suitable vacancy is available at the point of application.
You need to prepare well for an interview. Know the company by researching the values, history and culture of Bank of America (as shared above). You can also find additional information on the company’s website.
You need to know your CV or resume because it will be embarrassing to be unable to answer a question about your CV when asked to do so.
You need to also understand the position you are applying for. Look at the job description and try to look forward to the type of questions you could be asked; and prepare instances to demonstrate your expertise or experience.
Practice makes perfection; therefore you need to practice a lot. If you will be taking a test as part of the interview process (technical, numerical, etc.), you must practice. There are a number of free online applications to carry you along.
Keep up to date with the market by ensuring that you are aware of and understand any industry/position specific ’hot topics’. In order to keep up to date, read the financial press.
Ensure you know the exact location of the interview, and the closest train station. If possible, you should print off a map. In case you are running late, ensure you have contact details for the interviewer, the switchboard or your agency.
You need to demonstrate your skills and understanding by being able to ask thoughtful questions. Prepare several appropriate questions, and think about what would be important to you if you were in the role of the interviewer, the team, or the department.
On the interview day, dress appropriately and wear appropriate business attire. Allow plenty of travel time and give yourself enough time to get to the interview location.
Call in advance to advise the interviewer, in case you run late or an issue arises. Remember that arriving too early can have a detrimental effect; 5 to10 minutes before your interview is plenty of time.
Switch off your mobile phone, and be conscious of your body language throughout the interview. Maintain a firm handshake, good posture, eye contact, and a smile.
During communication, let your answers be structured in a clear and concise manner. Do not exaggerate or stretch the truth.
Try to relax as much as possible. You have been selected for an interview because your CV reflected skills and experience that the hiring manager is looking for.
The interview is not an interrogation or a test; so the more relaxed you are, the more likely you are to present yourself in a positive manner.
What to anticipate if you are hired
A representative from the On-boarding team will contact you to initiate the background checks (which includes employment verification, educational and professional qualifications verification, criminal record check, credit/Bankruptcy/Insolvency/Collections and default checks, global sanctions lists, identify verification/Identity check, media search, directorship/Conflict of interest checks, politically exposed persons check, and civil litigation searches) upon receipt of your returned contract.
The On-boarding contact will confirm your start date upon completion of your background checks.
You will be notified if the position you are hired for requires regulatory approval, or internal certification or the equivalent in your country. This will be required to be completed prior to your start date in some occasions.
Benefits and Compensation for Working with Bank of America
Bank of America offers a competitive benefits package that’s one of the best in the financial services industry.
Bonuses and incentive programs are essential parts of the overall package, and these flexible benefits allow you to select those that best suit your needs.
BoA offers an array of benefits covering financial, health care, lifestyle and leisure aspects of your life, as well as attractive Income Tax and National Insurance savings.
The company provides employer-matching contributions for Workplace Giving and Lifestyle Accounts.
Benefits for working with Bank of America
Here are some of the benefits you will receive while working for the Bank of America:
1. Health and Insurance benefits
Employees of the Bank of America and their family receive healthcare and insurance package as benefits for working for the company.
Employees also take advantage of coaching for a healthy lifestyle, and other employee health care benefits, and replacement of income with the life and disability insurance in the event of an employee experiencing fatal injuries or death.
2. Medical benefits
The medical plans of BoA help the employees take care of themselves and their families by saving money in the long run to cover the costs of their health needs.
They take care of medical services such as visiting doctors, staying at the hospital, prescribing drug plans for easy maintenance of a healthy lifestyle, etc.
3. Dental benefits
All your dental costs will also be taken care of as part of the company’s dental benefits. Costs incurred by teeth extractions or repair, bridges, dentures, basic everyday dental care, fillings, preventive care and major care, will all be covered by the Bank of America.
4. The ‘Vision’ plan
The vision plan of the Bank of America is all about eye care facilities the company provides for its employees and their families. The bank provides you with glasses, lenses, eye checkups, and runs a discount program on the vision plan with which you can avail huge discounts on Lasik surgery and other accessories for the eye.
5. Accounts for health care
The bank highly supports all its employees to take care of their health and that of their family by investing a small amount of money every month from their salary into health accounts. This money is called pretax money and can then be used to manage expensive medical costs. No taxes are imposed on these funds.
6. Great pay
Bank of America pays better than other organizations, and offers huge bonuses, incentives, health and lifestyle, and basic free life insurance. Therefore, no other organization can compete with it on terms of pay and benefits.
7. Basic associate life insurance
The employees of the bank receive a basic life insurance which is worth one time their total annual salary and can be a maximum of $2000000.
This is a manifestation of how the bank values the existence of their employees and also of their families after the employees cease to exist.
Work/Life Balance at Bank of America
Working at the Bank of America is very flexible that you can work from home. There are a lot of vacation and time off, and you can schedule flexibility.
Bank of America is a great company with big benefits and amazing technology. The workplace culture is great and there are great pay benefits and great training.
Working at the Bank of America is so lovely with fast pace challenges and great people with the same company goal in mind; a great cohesive decision making process and very good work balance also.
There is great upper management support. Work load can be strenuous but doable. Micro management is not too good there. However, aside from that there is the opportunity for growth and promotion.
BoA is a good place to work for advancement – a company with industry leader in technology, and excellent benefits, especially when it comes to a work/life balance. Management there is always looking to promote from within.
Bank of America is a very good company to work for and there is a lot to learn there.
At BoA, there is flexibility of working in many different departments throughout the company, and they will always encourage you to move up within the company.
The bank provides a lot of opportunities to grow skills and capabilities. There is room for promotional growth and management is fair and effective and very supportive. A good team environment is created for everyone to work together and succeed together.
The Bank of America makes a very professional work place, with opportunities for advancement and good benefits.
If you are considering building a career in the banking sector, you should think about Bank of America as a place that will provide great incentives and opportunities to develop a successful career.
This post helps you to learn all you need to know about career, jobs, and employments, as well as the benefits of working at BoA.
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