Thread regarding Bank of America layoffs

Outside employment

What are the rules on outside employment?

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| 1752 views | | 13 replies (last January 11, 2024) | Reply
Post ID: @OP+1qrqCFLD

13 replies (most recent on top)

If you think your manager won't approve it, wait until they are OOO and see if another manager will OK it, just say that the decision is time sensitive
Most departments have one supervisor who won't hold you back

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Post ID: @5wdc+1qrqCFLD

I could be wrong, but I think it’s in the employee handbook? Years ago, I wanted a second job for extra income and had to run it past my boss + HR for approval.

Basically, they just want to review the outside opportunity to make sure there is no conflict of interest (teller at a competitor bank, receptionist at a real estate company, etc.). As long as there is none, and it doesn’t interfere with your job’s hours, it’s unlikely they will have any concerns. I’m making an assumption here.

Mine was approved without any problem, although it was WAY over 5 years ago.

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Post ID: @4xde+1qrqCFLD

Main rule with non competitive gig work is don’t get caught. Manager will try to deny any work outside the bank by saying it will interfere with your focus. Just be sure to deposit your other earnings in an account outside BofA.

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Post ID: @4hur+1qrqCFLD

Anything that gives you separate pay (check, cash, whatever)

Board and any volunteer role(s) where you hold an officer role (e.g. treasurer of your church)

If you are in a formal role at an outside org or group, you must tell your manager at the bare minimum. If you are in doubt, just call the Ethics Hotline and they can guide you. (they are not "out to get you" -- it's all about avoiding any conflicts of interest, lawsuits and/or liabilities that could somehow splash back onto BofA.)

Handing out cupcakes at your kid's school does not count.

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Post ID: @1ipm+1qrqCFLD

Yes, it includes gig economy work. I feel more of us need side incomes for those of us who have stayed on with 0-2% raises over the years

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Post ID: @1trp+1qrqCFLD

Wait - Does that include driving? Lyft, Uber, Instacart? I know many people doing these to add extra income and know no one submitted it to their Manager or HR.

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Post ID: @1dqf+1qrqCFLD

If you are on a board, you have to get permission

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Post ID: @jtz+1qrqCFLD

Ad long as it isnt a direct licensing conflict
OK It with your immediate boss.
Keep it vague really vague
But annually, you would need to disclose it if your dept sends the conflict reporting out

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Post ID: @mla+1qrqCFLD

One of the jobs is to qualify as a diversity supplier the other is to award the business. Third job is executive advisor at a college

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Post ID: @dte+1qrqCFLD

correcting typo below

*some commercial banking (not somer - sorry)

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Post ID: @wbw+1qrqCFLD

Depends if you are a Covered or Non-Covered employee, as determined by your LOB and specific role.

Non-Covered (e.g. Consumer, much of CAO, among others):

  1. Manager Approval (at a minimum, possibly other requirements, depending on your role)

Covered (e.g. investment banking, trading, somer commercial banking, wealth management):

  1. Manager Approval
  2. Enter the details and attest in the Associate Investment Monitoring (AIM) system.
  3. Actively updated status throughout the year, if any changes.
  4. Annual disclosure and attestation via AIM required.

There might be more, but that's what I'm aware of at the bare minimum. HTH!

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Post ID: @qpj+1qrqCFLD

@dun+1qrqCFLD here again, complete also that conflicts of interest form/something similar in effect for HR approval.

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Post ID: @abb+1qrqCFLD

Your boss' prior approval.

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Post ID: @dun+1qrqCFLD

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