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Banking essentials – Resource guide
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and success of our local communities and teammates

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DISCLAIMER: These trainings and materials are provided as a service to the community, “as is,” with no
guarantee of completeness, accuracy, timeliness, or of the results obtained from the use, express or
implied, including, but not limited to employment at Bank of America, warranties of performance,
quality and fitness for a particular purpose. These trainings and materials should be regarded as
general information intended for audiences over 17 years of age. ©2024 Bank of America Corporation.
All rights reserved.

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Overview
Description

This Banking Essentials guide will serve as a resource to provide you with an introduction to the
financial services industry and the business of banking — including examples from Bank of America.
This guide is ideal for individuals looking to elevate their professional skills in order to grow their
career.

Introduction

This resource guide includes exercises and resources for the following:
• Understanding the financial services industry
• Understanding the business of banking
• Working in banking
• Working at Bank of America

At the end of the guide, there are resources for finding and applying for jobs at Bank of America.

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Understanding the financial services industry
What is the financial services industry?

The financial services industry provides a broad range of economic services to manage money through
businesses, such as:

• Banking

• Investing

• Insurance

• Tax and accounting

Further reading
What Are Financial Services? What To Know When Applying for Jobs In the Industry

Note: Throughout this resource guide, there will be several journaling activities. Keep a
document with all of your answers so that you can refer back to it as you continue on your
career journey.

If you would like to record your answers directly into this guide, use the comment feature if you
are viewing the document in Adobe® Reader® or the type text feature if you are viewing in a
web browser.

To use the comment / type text features, simply click the button on the toolbar and then stamp
the textbox onto your page to type.

Journal prompt: Name one thing that you have learned about the financial services industry.

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At Bank of America, there’s something for everyone. Here are some of the opportunities by category.

Banking, Markets and Finance roles are client and customer facing. They are the types of jobs that
people tend to think of when thinking about a bank, such as relationship banker.

There are also Technology & Operations roles support customer and client needs. From a technology
perspective, roles run the gamut in terms of technology skills and areas of focus — from software
engineers and developers to hardware and network experts to everything in between related to data
science and cyber security. Operations teams are both client facing and back-office support.

Business Support Services support day-to-day business for banks. Administrative, finance, audit,
human resources, risk and legal functions typically focus internally while there are other functions,
such as marketing and philanthropic areas like Corporate Social Responsibility teams, that focus more
on telling the bank’s story and supporting local communities. If you want to influence public policy, you
can work your way onto our public policy team. If you are into philanthropy and giving back to our
communities, we are a big enough company that you can work on one of our philanthropy teams. And
if you are interested in the environment, you can be part of our team that fights against climate change
and promotes our Net Zero Commitment.

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The Business of banking
Banking products

Match the banking product with the correct description.

Savings account
A. This is typically the go-to daily transactional
account for deposits and withdrawals. Usually, you
Credit card would use an ATM card or write a check to use
money out of this account.
Checking account

B. This is designed to help you accumulate funds for

short- and long-term goals. They typically earn
higher interest than a checking account.

C. This allows you to buy something now with the

agreement or promise to pay for it later.

Answer: A-Checking account, B-Savings account, C-Credit card

Taking advantage of fintech

Fintech is financial technology that can make your life easier. Which of these examples of fintech do
you already use or would like to try?
 Mobile banking apps – Access customer account information and perform transactions.
 Mobile pay apps – Move money between bank accounts and people.
 Digital wallet and cardless ATMs – Store payment and card information in a digital wallet app to
make purchases and access ATMs.
Continuing your learning
Many community colleges offer courses and certificates for banking and finance topics. Consider these
options to continue your learning:
 Check offerings at your local community college to see what’s available in banking and finance.
 Check to see if you’re eligible for grants and scholarships to reduce the cost of some of these
programs.

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Working in banking
Finding your fit

Finding an organization that fits your desired values and beliefs is just as important as finding a job in
which you like the work. Corporate culture, sometimes referred to as organizational culture, is all
about what employees share within the company. When working at a bank, there is a special need for
a culture of ethics and responsibility.

Skills needed to succeed in the financial services industry:

• Detail-oriented
• Ethical
• Problem solving
• Excited about meeting new people across a large company
• Active listening
• Demonstrates business etiquette and professionalism
• Customer interaction
• Rule follower
• Appreciates different backgrounds and experiences

Journal prompt: What’s most important to you in a workplace?

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Working at Bank of America
Job previews

If you’d like to learn more about some of the common careers at Bank of America, see the descriptions
below for details on what it’s like to work in these careers. Many of the job titles link to videos about
the corresponding position.

Banking, Markets & Finance: financial center and contact center roles

Job title Job description

Contact Center CSR I & Client Service Representatives (CSR) build relationships with clients to
II help them identify and address needs. CSRs go beyond processing
account transactions to anticipate and resolve client concerns with the
goal of exceeding expectations. They help clients over the phone with
everything from resetting account passwords to explaining how to reset
passwords through the online app.
Skills used on the job include customer/client service experience,
commitment to excellence and computer proficiency.
The work environment involves working in an inbound contact center
that requires sitting and taking calls for the entire shift, with structured
breaks.

Call Center Banker / Call Center Banker / Telephone Banker Specialists connect clients with
Telephone Banker the breadth of solutions that the bank offers to help achieve financial
Specialist goals. They deliver world class service, uncovering and understanding
clients’ known and unknown needs and finding solutions to those needs.
These specialists listen, provide one-on-one advice and connect clients
with solutions that help them achieve their financial goals.
Skills used on the job include balancing service requests and sales
opportunities, providing subject matter expertise on financial solutions,
asking clients probing questions to understand life and financial goals,
and pairing new solutions and services to meet client needs.
The work environment involves working in an inbound contact center
that requires sitting and taking calls and/or interacting with clients over
computer-based systems for the entire shift, with structured breaks. This
work involves responding to customer inquiries and concerns in a call
center, creating customized solutions.

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 Job title Job description

Centralized Lending Centralized Lending Specialists are responsible for answering inbound
Specialist calls and initiating outbound calls within a call center to assist new and
existing clients with determining the best solution for financing the
purchase of a home, refinancing an existing mortgage, or obtaining a new
home equity line of credit. Key responsibilities include analyzing client
financial goals, determining the most optimal lending product solution,
submitting the mortgage application, assisting clients with gathering
supporting loan documentation, and keeping clients informed throughout
the mortgage loan process.
Skills used on the job include financial services experience, sales
experience, understanding mortgage lending guidelines and ability to
provide outstanding customer/client service in a contact center
environment.
The work environment includes working in inbound contact center
sitting and taking calls and/or interacting with clients over computer-
based systems for the entire shift, with structured breaks.
Home Equity Lending Home Equity Lending Specialists are responsible for working in an
Specialist inbound contact center and providing comprehensive home equity
lending guidance and solutions to prospective borrowers.
Skills used on the job include financial services experience, sales
experience, understanding mortgage lending guidelines and ability to
provide outstanding customer/client service in a contact center
environment.
The work environment includes working in inbound contact center
sitting and taking calls and/or interacting with clients over computer-
based systems for the entire shift, with structured breaks.
Credit Solutions Credit Solutions Advisors provide clients with guidance and advice to
Advisor uncover their consumer and financial needs and match them to the right
banking solutions to meet their priorities.
Skills used on the job include customer/client service, commitment to
excellence and computer proficiency.
The work environment involves working with clients in a financial center,
with structured breaks.

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 Job title Job description

Financial Center Client Financial Center CSRs assist and solve problems for clients who come into
Service Representative the financial center and direct them to new banking solutions.
(CSR) Skills used on the job include customer/client service, commitment to
excellence and computer proficiency.
The work environment involves working with clients in a financial center,
with structured breaks.

Merrill Financial Merrill Financial Solutions Advisors (FSA) provide end-to-end

Solutions Advisor comprehensive advice and customized solutions to clients. FSAs conduct
client presentations, including a review of investment goals and
recommended products. They triage client leads and make referrals to
appropriate internal service providers based on client needs and asset
thresholds.
Skills used on the job include financial advisory and investment sales
experience and must hold the Series 7 and Series 66 licenses (or Series 63
& 65 in lieu of Series 66).
The work environment involves working with high-net worth clients,
identifying needs, developing relationships and partnering with Financial
Advisor teams to build their network.
Relationship Banker Relationship Bankers (RB) are responsible for assisting and educating
customers on self-service banking options (for example, mobile, online,
ATM) and building and deepening customer relationships. RBs are trained
in cash transactions and may be asked to process these transactions both
accurately and efficiently when needed.
Skills used on the job include knowledge of financial services, cash
handling experience and sales experience.
The work environment involves serving customers/prospects at financial
centers.

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 Job title Job description

Senior Banker Senior Bankers partner with teams to provide financial center clients
with both consumer and small business solutions, services and strategies
when uncovering personal banking needs and helping clients navigate
their unique priorities. Job expectations include proactively connecting
with clients through outbound calls and conducting consistent follow-up
routines.
Skills used on the job include knowledge of financial services, client
relationship building, referral management and sales experience.
The work environment involves serving customers/prospects at financial
centers.
Business Solutions Business Solutions Advisors (BSA) provide specialized service to financial
Advisor center clients including small business owners through the full spectrum
of borrowing and banking offerings at each stage of the client’s life plan.
Responsibilities include acquiring new and deepening existing
relationships and balancing sales performance, operational risk and client
relationship care by leveraging specialized expertise.
Skills used on the job include knowledge of financial services, experience
and proven success with business-to-business sales, or small business
banking and outbound phone sales experience.
The work environment involves working with financial center teammates
and interacting with customers/prospects.
Treasury Fulfillment & Treasury Fulfillment & Servicing (F&S) Senior Specialists serve as the first
Servicing Senior point of contact for inquiries from high revenue clients via email or
Specialist phone. They are responsible for reading, analyzing and/or determining
appropriate handling and resolution of requests for treasury, cash
management, card and/or depository products.
Skills used on the job include customer/client service experience,
commitment to excellence, computer proficiency and ability to follow
procedures.
The work environment involves working in an inbound contact center
that requires sitting and taking calls for the entire shift, with structured
breaks.

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 Job title Job description

Consumer Investments Consumer Investments Financial Solutions Advisors (FSA) provide end-
Financial Solutions to-end comprehensive advice and customized solutions to clients. FSAs
Advisor conduct client presentations, including a review of investment goals and
recommended products. They triage client leads and make referrals to
appropriate internal service providers based on client needs and asset
thresholds. The initial focus will be on acquiring necessary registrations
and training.
Skills used on the job include awareness of core banking and investment
solutions, financial advisory or investment experience and must hold the
Series 7 and Series 66 licenses (or Series 63 and 65 in lieu of Series 66).
The work environment involves working with financial center teammates
and interacting with customers/prospects.

Financial Solutions Financial Solutions Advisor (FSA) Trainees: Must obtain the Series 7 and
Advisor Trainee Series 66, if not already held, through our dedicated academy training
Programs: program. Once licensed, FSAs provide end-to-end comprehensive advice
and customized solutions to clients. FSAs conduct client presentations,
• ADP Financial
including a review of investment goals and recommended products. They
Solutions
triage client leads and make referrals to appropriate internal service
Advisor Trainee
providers based on client needs and asset thresholds. The initial focus will
• Consumer be on acquiring necessary registrations and training.
Investments
Skills used on the job include awareness of core banking and investment
Financial
solutions, financial advisory or investment experience and the ability to
Solutions
attain Series 7 and 66 licenses.
Advisor Trainee
The work environment involves working with financial center teammates
and interacting with customers/prospects.
Wealth Management Wealth Management Client Associates (CA) provide dedicated
Client Associate operational and sales support to multiple Merrill Lynch Wealth
Management financial advisors (FAs). For established clients, the CA will
often serve as the most frequent point of contact with Merrill. CAs may
also support local office initiatives in addition to the businesses of
particular FAs. Fully registered CAs have Series 7, 63, 65 and 66 licenses.
Skills used on the job include foundational knowledge of investment and
banking products, commitment to client excellence, computer proficiency
and strong communication.
The work environment involves interacting with clients at local Merrill
offices and via phone/email.

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 Job title Job description

Fraud Client Services Fraud Client Service Representatives are responsible for providing
Representative resolution of multi-product (focused on preferred, small business and/or
ATM) fraud-related client requests by answering calls, chats or emails in
an inbound contact center.
Skills used on the job include working in an environment that requires
accuracy, using logic, multi-tasking, toggling between systems and
communicating resolutions while delivering a great client experience.
The work environment involves providing seamless service delivery to
answer client questions, resolve problems, perform account maintenance
and look for opportunities to deepen relationships through digital
solutions.

Credit Assistance Specialists are responsible for providing credit assistance

Credit Assistance
and solutions to our clients. This includes reaching out to delinquent
Specialist
clients to secure payment and determining the reason for delinquency on
active or inactive loan, deposit and credit card accounts.
Skills used on the job include handling primarily outbound calls for a single
product at any stage of delinquency or risk, including pre-charge off, and
recovery.
The work environment involves leveraging problem solving competencies,
sound judgement and decision making, and providing exceptional client
service and empathy while meeting both the bank's and client’s needs.

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 Banking, Markets & Finance: credit roles

Job title Job description

Home Services Home Services Associates (HSA) process loans approved by an

Associate I underwriter or an automated decisioning system. They are responsible for
verifying conditions for approval and approving routine title issues
including, but not limited to the following: vesting issues, child support
liens, judgment liens, mechanic liens and undisclosed liens reconveyances.
They may process subordinations or resolve appraisal disputes.
Skills used on the job include previous mortgage experience and/or
customer service / financial environment experience and knowledge of
general bank guidelines.
The work environment involves working in an office environment as part
of a team supporting the loan/credit verification process.
Credit Support Credit Support Associates (CSA) monitor credit compliance through the
Associate I timely collection of all required financial information. They also ensure
data integrity in primary systems supporting our Global Commercial Bank
lines of business. CSAs also identify opportunities for positioning additional
products/services.
Skills used on the job include experience with financial documentation
review, including tax returns, financial statements and ownership of
business; working knowledge of credit; and customer service experience.
The work environment involves working in an office environment as part
of a team supporting the loan/credit verification process.

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 Technology & Operations roles

Job title Job description

Software Engineer Software Engineers design, develop and implement technology
applications, platforms and systems to support customers, clients and
bank employees around the world.
Skills used on the job include knowledge/training in contemporary
programming languages such as Java, Python, JavaScript, HTML/CSS, .Net,
Mobile iOS or Android and so on; basic understanding of relational
database management systems; background in software development life
cycle (SDLC) methodologies, especially Agile.
The work environment involves working in office as part of a technology
team that codes, tests and deploys solutions.

Cyber Security Analyst Cyber Security Analysts may address multiple cyber-related
responsibilities, including detection and analysis of cyber-related
suspicious security events, escalation of incidents for immediate
response, containment, and recovery as well as providing technical
support in the implementation of appropriate data security plans,
procedures and products.
Skills used on the job include experience detecting and analyzing security
events and/or responding to security incidents and knowledge of
common cyber security analysis tools and techniques.
The work environment involves working independently and
collaboratively within a larger cyber team.

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 Job title Job description

Quality Assurance Quality Assurance Automation Specialists are responsible for testing and
Automation Specialist delivering software to accomplish business outcomes. They define and
execute manual and automated test suites to ensure software meet all
requirements.
Skills used on the job include understanding/experience of software
development life cycle (SDLC), basic programming skills including
automation systems and databases, and familiarity with programming
script languages including Java/VBScript/Python.
The work environment involves working in an office as part of a
technology team that builds and tests solutions.

Help Desk Analyst Help Desk Analysts provide employee-facing level one technical support
for a global user-base. They resolve routine, basic technical problems and
inquiries through various contact channels (voice, chat) and troubleshoot
Microsoft applications and proprietary systems.
Skills used on the job include customer service/call center experience;
strong decision-making and problem-solving skills; and experience in
various technologies such as: Windows 10/7/XP, Mac OS X, Microsoft
Office®, Cisco/VOIP telephony, Blackberry®, Android, iOS (iPad®/iPhone®)
and ticketing systems.
The work environment includes working in a technology call center.

Microsoft, Microsoft Office and Microsoft applications are trademarks of the Microsoft group of
companies.

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 Other roles

Job title Job description

Wealth Management Specialists operate in a marketing and sales
Wealth Management
development role by implementing and executing the Elite Growth Practice
Specialist
(EGP). The EGP is a training program to develop and prepare candidates to
further develop and service the financial advisor team’s client base.

Skills used on the job include developing and servicing client segments
and the next generation and their next generations and beneficiaries;
gathering additional assets from the existing client base and deepening
relationships by partnering with all Merrill partners to deliver a full breadth
solutions; coordinating technological support through the development of
portfolio analysis, proposals and direct mail campaigns utilizing Salesforce®
and other tools and resources; providing technical expertise in certain
product areas (for example: Corporate 401(k), Rule 144, Insurance, Wealth
Management Workstation); and providing marketing and organizational
support.

The work environment involves allowing employees to study and obtain

all required registrations.

Investment Specialist Trainees provide phone-based services to

Investment Specialist
relationship jobs where the representative is expected to take several
Trainee
inbound service calls daily to solve for financial needs.

Skills used on the job include deepening relationships by referring clients

to specialized sales teams and serving as a central entry point into a fully
licensed financial services career.

The work environment involves managing products, trading in self-

directed accounts and maintaining knowledge on chat functionality and a
wide variety of products.

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 Journal prompt: Which of these jobs interests you the most?

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Better Money Habits®

Bank of America is committed to making an impact by enabling widespread financial health. That is
why we created Better Money Habits, a website devoted to helping you manage your personal
finances and make better financial decisions.
On the Better Money Habits homepage, there is a quiz to see which topics you might be most
interested in learning about. Take the quiz for personalized content that aligns with your life priorities.

Journal prompt: List some topics you would be interested in learning more about to manage
your personal finances.

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Bank of America benefits
Bank of America offers a competitive benefits package to its employees, including tuition assistance
and parental leave.

To find out more, visit Bank of America Employee Benefits, Perks & Discount Programs.

Journal prompt: Which benefits are most important to you when applying for a position?

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How to apply

Step 1: Visit www.bankofamerica.com/careers and click Search jobs.

Step 2: Filter job results on the left side of the page.

• Type in your location and then click Company Division and Career Area to check the boxes for
any divisions and areas that interest you.
• Scroll through the available jobs.
• When you have located the job you want, click the job title and select Apply.

Step 3: Make the appropriate selection for How Did You Hear About Us.

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