GCIB GMC Associate

Job Description:

Job Title: GCIB Credit risk Associate

Corporate Title:  Associate

Location:  London

Company Overview:

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.

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

Role Description:

 As part of Global Banking & Markets, GCIB Credit manages and delivers the credit relationship for wholesale clients in accordance with the company’s growth strategy, risk appetite and underwriting standards. While we are an independent function, we work closely with various lines of business, relationship managers, product specialists and Risk. Global Banking & Markets includes corporate banking, investment banking and sales & trading. The group provides services to large corporations, government entities and institutional investors. These services include mergers and acquisition advice, equity and debt capital raising, corporate lending, sales and trading in fixed income, commodities, currency and equities, risk management, research, and liquidity and payments management.

Responsibilities:

•           Develop and maintain a deep understanding of the Global Banking & Markets product spectrum.

•           Develop and maintain a deep understanding of the portfolio at the client, industry, and macro level in order to assess risk and craft value added solutions that balance risk.

•           Assess the credit worthiness, including assessment of financial statements, due diligence of prospective borrowers and/or trading counterparties and establish appropriate terms and conditions to mitigate risk.

•           Assist with structuring of transactions and negotiating credit documentation including; credit agreements, amendments, ISDAs, and CSAs.

•           Drive deal selection, screening and transaction management process.

•           Ensuring granularity of the portfolio with specific reference to targets for net country/credit capital, legally binding commitments, total exposure and asset quality.

•           Establish appropriate internal risk ratings for clients and implement accurate adjustments throughout the client’s credit life cycle.

•           Develop, maintain, and manage internal relationships with business partners including Corporate and Investment Bankers, Sales & Trading, Risk Management, Syndications, and Legal

What we are looking for:

•           Credit risk experience, analyzing Corporate and/or FI credits at a financial institution, assessing clients in different sectors and structuring transactions,

•           Corporate/ FI credit skills and risk judgment and ability to defend rigorously a fact based point of view.

•           Understanding of credit risk sensitivities in the portfolio and risk drivers of the exposures.

•           Knowledge and keen interest to learn about issues related to industry risk, transaction risk an awareness of country risk factors, reputational risk and operational risk.

•           Excellent communication skills, both written and oral – ability to be concise and with attention to accuracy and detail. .

Skills that will help:

•           Effective interpersonal and communication skills with ability to resolve issues in a professional and timely manner working in a team.

•           Fluency in use of all Microsoft Office applications, particularly Excel.

•           French or German language skills would be an advantage

Benefits of working at Bank of America:

UK

•           Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

•           Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

•           20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 

•           The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

•           Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

•           Access to an Employee Assistance Program for confidential support and help for everyday matters

•           Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

•           Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

•           Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

Join us!

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.