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:
This job is responsible for analyzing credit and investigating existing and prospective clients and counterparts. Key responsibilities include focusing on but not limited to credit, market, and reputational risk; as well as adherence or monitoring of credit risk policies, risk appetite, and reporting, including but not limited to Top of House (TOH) and Line of Business (LOB) specific reports or regulatory related reporting.
Represent Enterprise Credit ("EC") in the leveraged finance acquisition underwriting process for large commitments ranging in size from $100mm into the billions that is subject to considerable fee revenue or credit losses. Position will be an industry generalist and the candidate will be asked to underwrite different deal structures inclusive of Institutional/Commercial Bank Loan and High Yield Bond take-outs
Responsibilities:
Sets or supports the oversight of the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
Supports the credit approval process and therefore is accountable for overall portfolio performance and asset quality, including underwriting, structuring and monitoring tasks
Conducts analysis, inspects and/or develops credit risk reporting for specific products, and monitors and reports on key indicators for changes in credit quality to communicate to senior management
Ensures adherence to policy and standards and performs due diligence that the risk is within the bank's defined risk appetite, using knowledge of stress testing and its applicability to credit risk
Supports monitoring of adherence to industry risk governance, as well as monitoring for potential operational, reputational and market risk issues
Identifies risks early that could impact the assigned portfolio and coordinates with business counterparts to resolve portfolio issues
Dynamic leader in credit analysis of unique situations requiring differing approach depending on situation
Review underwriting materials, such as: financial statements, presentations, projections, Quality of Earnings, Credit Ratings and other third-party reports
Acquire understanding of new businesses and industries in a short period of time
Determine key credit risks and weigh them against relevant mitigants
Conduct due diligence with clients
Team leader that manages the development of financial modeling
Review legal underwriting documents
Presentation of analysis of risks and associated mitigants to senior leaders in EC, Credit Risk, Global Markets and Global Capital Markets
Contribute to acquisition underwriting approval memos
Track successful de-risking of the commitments
Other projects as assigned, work with juniors on the following: reports synthesizing risk exposure statistics, market data over time, and reports on recently announced transactions
Required Qualifications:
5 + yrs of Corporate Credit and/or Investment Banking/Capital Markets Experience
Advanced financial analysis of public, private and non-traditional financial statements, presentations and projections
Business acumen to identify key credit risks and variables to sensitize and diligence with the client
Expert financial forecasting and modeling
Expert analytical thinking and attention to detail to challenge client forecasting assumptions and identify credit concerns
Expert decision making for underwriting and stress case modeling
Written communication to succinctly explain and document the various assumptions made in the model by the client and EC
Loan structuring & market acumen to analyze transaction structure/ terms, comparing to market precedents to identify and mitigate risks
Expert critical thinking to synthesize the analysis and diligence into an underwriting recommendation
Desired Qualifications:
Bachelor's degree in related field or equivalent work experience
Skills:
Credit and Risk Assessment
Financial Accounting
Issue Management
Portfolio Analysis
Risk Analytics
Attention to Detail
Business Intelligence
Collaboration
Interpret Relevant Laws, Rules, and Regulations
Regulatory Compliance
Oral Communications
Presentation Skills
Prioritization
Project Management
Written Communications
Financial Analysis
Loan Structuring
Underwriting
Business Acumen
Financial Forecasting and Modeling
Research Analysis
Stakeholder Management
Shift:
1st shift (United States of America)Hours Per Week:
40Pay Transparency details
US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$120,000.00 - $178,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.Learn more about this role