Top Level Scores
The following categories are graded on a scale of 1 to 4.
Our support of veterans, service members and their families is part of our DNA. This year marks our 100th year of military support which began when we provided our first banking services at Fort Sam Houston, San Antonio, Texas.
We’ve hired more than 10,000 veterans and remain steadfast in our commitment to hiring and serving military personnel who contribute so much. We demonstrate this through financial education, volunteerism and partnering with nonprofits across the country to help veterans face some unique challenges. Our dedicated hiring and resources including our Veteran Development Program helps veterans connect with senior leaders and build business acumen. Hundreds of veterans participate in line-of-business military leadership programs - more than 500 veterans and military spouses currently hold leadership positions at our company.
Through our Military Support and Assistance Group over 11,000 members throughout the U.S. and UK have access to development opportunities, networking, mentoring and volunteering.
We are deeply committed to helping overcome stigmas associated with veterans facing mental health challenges. In 2019, in collaboration with PREVENTS Executive Order Task Force, we signed the Workplace Pledge to prioritize mental health in the workplace with a specific focus on veterans.
With approximately 1MM service members expected to leave the military by 2025 we remain committed to helping veterans transition:
• Online Support Services: Our Military Transition and Career website offers veterans and
their spouses programs and resources that address challenges faced when transitioning
from military to civilian life.
• Leadership Support: Dedicated Military Affairs leaders in ensure veterans’ successful
integration into the corporate workplace.
• Life Event Services: This internal team helps veterans and their families navigate
significant life events as they join the company, relocate or take military leave.
As a company, we’re committed to making financial lives better. That commitment extends to our nation’s service members, veterans and their families, as we strive to connect them to the training, education and resources that put them on the path to financial stability.
For new veteran and military hires, their peers and managers, we offer four easy-to-navigate modules on transitioning to corporate life at the bank, which include:
• Veterans Transitioning to Bank of America walks military hires through the things they
need to know about being a Bank of America employee, through a military lens.
• Managing Veterans helps managers recognize how to leverage military team members’
background, skills and experiences, as well as provide them with effective support.
Managing Veterans is a valuable resource for veteran co-workers to engage and learn
about the military branches, rank designations and much more.
• Build Business Knowledge provides fundamental lessons in knowing the business.
• Value of Military Transition Learning is where veteran employees share their reactions to
the customized military transition learning modules.
military spouse recruitment and hiring
We have partnered with the Department of Defense for several years on the Military Spouse Employment Partnership. We actively pursue the unique skills that spouses bring to the workforce, and we post competitive jobs on their website regularly.
We support our military spouse employees who are married to an active duty service member. Through our Life Event Services team, we have instituted formal processes and activated resources to maintain the spouse’s employment upon a Permanent Change of Station, whether in the U.S. or overseas within our Community Bank framework (we are under contract with the Defense Finance and Accounting Service). These positions generally appeal to entry level and career-minded spouses.
Another initiative that began in 2019 and continues today is our partnership with American Corporate Partners (ACP). We have more than 50 senior leaders in this mentor/protégé program. We entered into the ACP relationship in great part due to their expansion to include military spouses. There is no expectation that the protégés will come to Bank of America, but we believe the holistic approach serves this underemployed segment the best.
We have two associates, Jeff Cathey, who leads our Overseas Military Banking Program and Military Strategy; and Lindsey Streeter, director of Veterans & Military Affairs; who are members of the U.S. Chamber of Commerce’s Military Spouse Employment Advisory Council. They participate regularly in Washington, D.C. and at the White House with Second Lady Karen Pence on the critical need to employ military spouses. They have met with local representatives who facilitate military spouse hiring from nearby bases through the Department of Defense’s SkillBridge/Corporate Fellow Program. They also attend the Chamber’s AMPLIFY events across the country and events specifically geared toward transitioning military spouses. Further, we conduct quarterly meetings internally with our military spouses which are led by our Military Support and Assistance Group (MSAG) employee network.
We offer a retention support program for all military connected employees regardless of the sub groups people may belong to,We offer retention support programming designed specifically for currently service Guard and Reserve employees,We offer retention support programming designed specifically for military spouse employees,We offer retention support programming designed specifically for military caregiver employees,We offer retention support programming designed specifically for women veterans
orientation training and onboarding
- New Employee Orientation
- New Employee Training
- On-boarding program
- Mentorship program
military connected assistance
We offer full pay for activated Guard and Reserve member employees for 90 days; then full differential pay for up to five years.
We invite Guard and Reserve members into one of two 5-month seminars we conduct each year. The Veteran Development Program is designed for exposure and visibility on career paths for this group and other veterans in our company. We began this in 2016, and it is a proven retention tool. We conducted 10 focus group surveys last year with Guard & Reserve teammates as a key component of the sessions to best understand their views on working at the bank while still conducting military duties.
Once hired, we provide veterans with a multitude of resources to help them navigate their careers with us. Hundreds of veterans also participate in line of business leadership and professional development programs to support their career growth.
• Our Global Technology & Operations (GT&O) Military Development Program provides
veteran leaders with two one-year assignments within GT&O, engaging in critical
business initiatives, all while developing business acumen and acquiring experience
within our company.
• The Consumer Banking Strategy and Management Program focuses on the development
of veterans who have the potential to be sales and operations leaders within Consumer
& Small Business. Participants are engaged in a diverse set of leadership opportunities
over two years through one of two management tracks.
• Our Veterans Associate Program (VAP) is an elite 12-week rotational program in New
York City for recently transitioned veterans. VAP allows participants to showcase
management and leadership skills as they explore career opportunities across Global
Banking & Global Markets.
By the end of each program, participants are full-time employees who have gained business-specific skills and experience to grow professionally and help contribute to our company’s success. As a result, there are more than 500 veterans and military spouses who hold leadership positions at our company.
We’re proud to call many military spouses our teammates and we honor and appreciate the personal sacrifices they make to keep our country safe. Permanent Change of Station (PCS) relocations can be challenging and military recruiters are available to assist with our Job Transition Assistance Program which connects military spouses with a dedicated point-of-contact to help them find a new role or a flexible option for their current role when their spouse relocates with a PCS move.
We work with the U.S. Chamber of Commerce and the Family Readiness Centers for Community Bank roles overseas so that spouses can have visibility on employment opportunities before a major Permanent Change of Station move to Germany, Italy, the UK or Japan. This hands-on approach is a real differentiator for forward deployed families in Europe and the Pacific, whether going or returning to the continental U.S. https://www.dodcommunitybank.com/.
Our Life Events Services team, a dedicated team of Bank of America human resource specialists, also assists military spouses with connections to community services, childcare or other referral services and confidential counseling through our Employee Assistance Program (EAP). If a military spouse is facing challenges with a deployment, a PCS or finding childcare, they can reach out to our EAP teammates who are available day or night, seven days a week to help manage the stress and broader emotional and mental impacts of events and uncertainty.
civilian credential support
We offer tuition assistance or other financial support toward the preparation, attainment, and/or maintaining of an academic or professional certificate, degree, or another civilian credentialBank of America employees in the US are eligible for reimbursement of up to $7,500 per year to attain a job-related professional designation or academic certification. They also have access to free, confidential unlimited academic advising to assist with identifying the right program and/or school to meet their career and educational goals.
• Paul Donofrio, Chief Financial Officer, served in the U.S. Navy from 1982 to 1988 as a
naval flight officer.
• Len Botkin, Global Corporate Services Executive & MSAG Executive Sponsor, served in
the U.S. Army.
• Jeff Cathey, Overseas Military Banking Program and Military Strategy Executive, served
in the U.S. Navy for 29 years. Jeff served with distinction and led commands worldwide
at all levels to include two fleet squadrons and a carrier air wing on the USS Enterprise.
Jeff flew 100 combat missions and is a decorated veteran of Operation Urgent Fury,
Operation Enduring Freedom (Afghanistan), and Operation Iraqi Freedom.
• Larry Di Rita, Greater Washington DC Market President. Larry joined the U.S. Navy in
1980. Throughout his military career he held several senior roles. From 2001-2006, he
was the special assistant to the Secretary of Defense. While at the Pentagon, he also led
the Pentagon’s office of Legislative Affairs (2001) and the office of Public Affairs,
including as chief spokesman for the Department of Defense (2003-2006). In 2006, he
was appointed counselor to the Department of Defense.
In addition we have 500 veterans in leadership roles managing teams across the company