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Portfolio Management Officer II / III

New York, New York;

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:

The Portfolio Management Officer III (PMO III) has primary accountability for all monitoring and maintenance activities on an assigned client base primarily larger/complex client relationships demonstrating strong judgement and sound credit skills.  In some cases, the role may assist a Senior Portfolio Management Officer (SPMO).

They monitor clients operating performance and financial condition to proactively identify issues and opportunities. They deliver financial, industry, economic and other analysis to facilitate decision making, while also ensuring adherence to credit policies, guidelines, and applicable regulatory requirements.

The PMOs provide ongoing coaching and support to other Credit Products team members. They report to the Sr. Credit Products Manager and partner closely with Credit Officers, Underwriters and Relationship Managers as well as risk partners and other associates within the Bank of America lines of business that have a connection to the client relationship.

Responsibilities:

  • Responsible for post close credit activity including documenting the conditions for pre-approved extensions and the associated legal documents.

  • Responsible for all monitoring and maintenance activities on an assigned portfolio including risk rating scorecards, annual sponsor/guarantor financial reviews, covenant compliance, construction monitoring, interest reserve analysis, lease reviews, loan reporting, and site inspections. 

  • Activities associated with the minor modification of existing credits and the extension of facilities which have qualified for defined extension options.

  • Collateral analysis, sponsor/guarantor financial analysis, and review of related legal documents

  • Credit facilities include bridge, term, and construction loans for commercial real estate developers and investors.  The PMO is an individual contributor who reports to the CREB Regional Portfolio Manager (CPM) and partners closely with Credit Officers and Underwriters.  The PMO is responsible to drive process simplification and improvement under the direction of management.

Required Qualifications:

  • Credit training in commercial bank

  • 2.5+ years of commercial real estate financial analysis and portfolio management

  • 2.5+ years of financial accounting, financial modeling or loan structuring

Desired Qualifications:

  • Master’s degree, MBA or Certificate from accredited real estate educational program

  • Large money center bank experience

  • CRE property management experience

Skills:

  • Credit Documentation Requirements

  • Underwriting

  • Analytical Thinking

  • Attention to Detail

  • Collaboration

  • Financial Analysis

  • Collateral Management

  • Decision Making

  • Prioritization

  • Problem Solving

  • Portfolio Management

  • Loan Structuring

  • Business Acumen

  • Negotiation

  • Strong Communication (verbal and written)

  • Analytical / technical skills including financial accounting and basic finance

Minimum Education Requirement: Bachelor’s Degree or equivalent work experience

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-24020117

Manages People: No

Travel: Yes, 5% of the time

California pay and benefits information

California pay range:

$82,100 - $142,500 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

New York pay and benefits information

New York pay range:

$82,100 - $142,500 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.