Employee Benefits Specialist - Business Market
Company: Disability Solutions
Location: Salt Lake City
Posted on: April 20, 2024
Job Description:
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!Job Description:Partners with Banking
relationship managers (Business Bank) to identify employee benefits
sales opportunities (Defined Contribution, Defined Benefit, NQDC,
Equity, Health Benefit Solutions). Coordinates pipeline with RMs,
sales teams and advisors. Develops and leverages strategies for
client engagement and activities. Serves as the lead for
preparation of sales materials, pricing and proposals as well as
client interaction through close of sales for Defined Contribution,
Defined Benefit and NQDC opportunities in the less than $10M market
segment. Provides guidance to more junior staff, but has no formal
supervisory responsibility. 10 years of Retirement or Benefits
experience; of which five or more years should be sales related.
Required comprehensive knowledge of the retirement and/or employee
benefits business and superior sales skills. Series 7 and 63/65 or
66 and Insurance Licenses.Business Identification &
Development:
- Leverages data analytics on existing bank portfolio of clients
to identify client engagement opportunities
- Engages in business development activities with Advisors to
promote the benefits of retirement plan business, construct
strategic prospecting plans and prepare Advisors for effective
client engagement from point-of-sale through the duration of the
relationship
- Communicates sales targets and shares measurement metrics to
align Banking Relationship Managers and Merrill designated advisors
toward goal achievement
- Coordinates and promotes Local Market Events (e.g. HR
Symposiums)
- Manages pipeline of active deals with precision and records all
high-value activities performed into CRM toolClient Engagement:
- Leverages client management process and prescriptive
prioritization of client interactions
- Partners with Banking Relationship Managers for initial
introduction to clients and prospects
- Prepares and delivers client presentations in partnership with
Relationship Managers and retirement designated Advisors from
Discovery to Finals stage, and offers guidance through the
on-boarding process to ensure an optimal client transition
experience
- Effectively manages multiple facets of the sales process
including meeting coordination, RFP responses, product comparisons,
proposals, follow-up
- Engages with Banking and Advisory leaders to best align
activities with shared goals, to optimize business results through
a collaborative partnershipContinued Growth & Relationship
Management:
- Develops partnerships with key Bank of America stakeholders to
drive issue resolution and deliver marketplace intelligence to
assist with product evolution
- Identifies and engages local market teams for servicing and
remains engaged with HR on proactive relationship management and
client relationship deepening opportunities.Required Skills:
- Must have Series 7, 63/65 or 66 licenses (or ability obtain
within Compliance Deadline)
- Life & Variable Insurance licenses required (or ability obtain
within Compliance Deadline)
- 10 years of Retirement or Benefits experience, of which five or
more should be sales related
- Strong financial aptitude
- Superior technical expertise in retirement plans and/or
benefits plans required, with a strong acumen of the
competitive
- landscape
- Ability to communicate complex information to a wide variety of
personnel in a clear, concise and well-organized manner
- Strong interpersonal/rapport building skills are required to
build relationships with banking partners and prospective clients
and
- to enhance Bank of America's brand in the Retirement and
Employee Benefits marketplace
- Proficiency in use of MS Office suite of tools
- Familiarity with managing activities and pipeline in a CRM tool
(experience with SalesForce.com is preferred)
- Approximately up to 75% travel (within specified
territory)Skills:
- Business Acumen
- Business Development
- Pipeline Management
- Presentation Skills
- Benefits Plan Development
- Client Management
- Product Marketing and Branding
- Collaboration
- Executive Presence
- Relationship Building
- Sales StrategyShift:1st shift (United States of America)Hours
Per Week: 40
Keywords: Disability Solutions, West Jordan , Employee Benefits Specialist - Business Market, Other , Salt Lake City, Utah
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