Bank of America is a multinational financial and banking services corporation. Its headquarters are in Charlotte, North Carolina. As far as assets go, it sits at the second position and by 2010; it was the 5th largest organization as per total revenues. After Walmart and Gerald Electric, the Bank of America is the 3rd leading non-oil corporation of the U.S.
Also, in 2010, Forbes considered it as the third biggest company on the globe.
The Merrill Lynch acquisitions by the bank in 2008 made it the largest management corporation of wealth and it became the key player, as far as the market of investment banking is concerned. It is also one of the Big Four banks of the U.S. and operates in more than forty countries, all fifty states in the USA and the District of Columbia. About 80% of the population in America comes under the cover of this bank. It also serves around 57 million relationships of customers and small businesses spread in nearly 16,200 ATMs and 5,600 centers.
The Bank works from Monday to Thursday from 9:00am to 5:00pm. On Fridays, the timing changes to 9:00am – 6:00pm while the Saturday working hours are 9:00am to 1:00pm. Sunday is observed as a holiday.
Age Eligibility@Bank of America
The aspiring candidate must be at least eighteen years of age.
Bank Manager, Personal Banker, Sales and Services Specialist, Assistant Manager, Bank Teller, Mortgage Loan Officer, Teller Operations Specialist.
Originally it was given the name of ‘Bank of Italy’, in San Francisco, California in 1904. Immigrants were taken care of by this corporation by providing loans and banking services. In 1918, Banca dell’ Italia Meridionale was acquired and Bank of America and Italy was established in the year 1922 by Amadeo Giannini. It was only in the year 1928, that the Bank of America and Italy fused into Bank of America, in Los Angeles, thus assuming the title of Bank of America, in the year 1929. It was in the year 1967, that the BankAmerica Corporation assumed solitary proprietorship of Bank of America and continued expanding all the way through 1970s, 1980s, and the 1990s. It is among the biggest banking firms over the globe. This bank began its operations as a self-governing company during the last decade of the twentieth century.
The bank observes a worldwide presence.
This bank is a giant as far as the banking industry is concerned. Across the globe, finances are handled by this organization making the patrons enjoy personalized banking services and financial planning. Many reasonably priced financial services such as savings accounts, stock broking services, checking accounts, loan and mortgage approval are offered by the bank. Apart from offering online services, this international banking company also offers standalone locations of shopping centers and shopping malls.
Causes that are socially relevant are also looked after by the bank, apart from international investment. The Corporation of financial services and global investment regularly promotes community development and voluntarism. Scholars and athletes are sponsored via scholarships and grants. Many initiatives that are non-profit, like Neighborhood Builders, Local Heroes, and Student Leaders are functionalized by this Bank.
Every year, a big amount of money is committed by the organization wherever there is a need for research towards business associated with techniques that are environmentally viable. Factors like solutions of Green Energy, limitation of waste production, consumption of energy, and reduction of emission come as top priority. There are numerous branches that take part in programs of recycling and implementing business practices that are environmentally friendly.
This is a banking institution which has a world class influence. It trades publicly on the NYSE and uses the stock ticker ‘BAC’. On the Tokyo Exchange, it works under the symbol of ‘8648’. It engenders a number exceeding $130 billion as far as annual revenues are concerned. Close to 290,000 workers at entry level are employed while the corporate headquarters can be found in Charlotte, North Carolina. As far as assets are concerned, this company, offering financial services, is the largest in the United States of America. It slips to second position when it comes to market capitalization. Clients are served by the bank in around 150 countries. It is related to 99% of the United States Fortune 500 companies and holds 83% of Fortune Global 500. The company also has membership in Federal Deposit Insurance Corporation or FDIC and a part of both, the Dow Jones Industrial Advantage and the S&P 500 Index.
Jobs Descriptions & Remuneration @Bank of America
Sound career opportunities are provided by this banking corporation. Full-time as well as part-time associates are required to be hired, to fill the positions in the banking sector.
Tellers are needed to be hired by many branches of the Bank of America. The Teller helps customers and also handles personal accounts. Professionalism must always be demonstrated by Bank Tellers. The typical starting income of this individual is close to $9/hour.
Financial and banking assistance is provided by a Personal Banker who works directly with the client. Dedicated, motivated, and personable workers are regularly hired by the Bank so as to fill job vacancies related to jobs of the personal banker. The starting salary is close to $20,000 per year.
The Assistant Manager supervises tellers, delegates work, and hires and provides training to new employees. These individuals typically earn about $30,000 to 40,000 annually.
This individual oversees the working and operations at the locations and make sure that the client is satisfied. It depends on the applicant’s experience and bank location that the salary is decided. These managers may get more than $80,000 as yearly salary.
Advantages of working
A rewarding and unique environment of work is provided by international firms of banking. Job setting that has a fast pace is featured by the Bank of America. Paid training is provided to the employees and a positive potential of career growth is also observed here. Qualified associates are offered competitive pay scales in addition to benefits of financial planning, like 401(k) retirement and pension plans, paid time offs, and also coverage regarding healthcare. Qualified employees also enjoy discounts related to lending and other financial services of the Bank of America.
Bank of America Job Application
Job Interview Questions
The range of questions asked during the interview round can be limitless. However, the candidate, with respect to the qualifications attained can predict and prepare on the types of interview questions which may be asked at the time of the interview. Some assumed questions are:
- Accroding to you what should be the first and foremost responsibility of an employee working at any position in the bank?
- What is your family background?
- How can you define cash reserve ratio?
- Difference between current account and savings account?
- What is the importance of KYC (Know Your Customer)?
- Do you carry any experience with respect to finance?
- What used to be your best subject at school?
- How can you differentiate between your savings and checking accounts?