Leasing Credit Officer I/II-Global Corporate Aircraft Finance

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
 

This Portfolio Manager position is responsible for the on-going monitoring of Global Leasing’s ~$7Bn Global Corporate Aircraft Finance portfolio (“GCAF”).  Management and monitoring responsibilities will cover an assigned book of lending/leasing relationships with exposures up to $100MM+ that are assigned risk ratings the equivalent of regulatory Pass, Criticized, and Classified categories.  Relationships extend across a wide variety of industries, and include Corporations, as well as High Net Worth Individual and International accounts.

The Leasing Credit Officer (“LCO”) will act as the lead underwriter for the management of existing client exposures, responsible for the ongoing monitoring and tracking of required monthly workflow that will include the setting of appropriate obligor and facility risk ratings through ongoing review of client financial statements, covenant compliance, loan/lease legal documents, collateral, and monitoring of news articles and other early warning alerts, as well as through interaction with Risk Management Officers, Marketing Officers, SAG Officers, Legal, Equipment Management Officers and Credit Underwriting Officers.  The LCO will be tasked with writing required periodic customer status reviews, High Attention Credit (“HAC”) memos, and Scheduled Exposure Reports (“SERs”), as well as ad-hoc credit-related requests for clients, including the review and approval of extensions, waivers and amendments to existing leases or loans when they occur.

The position will include routine interaction with Global Leasing’s Risk Management Officers, Marketing Officers, SAG Officers, Legal, Equipment Management Officers and front-end Credit Underwriting Officers.  The LCO will also have direct contact with customers, when required.  When a non-leasing Bank relationship exists, the associate will be expected to work with the Bank credit teams to assure awareness of any required actions and risk rating assignments to assess impact to Leasing exposure and interact effectively with Bank partners.  The assigned portfolio of accounts will include primarily pass rated accounts but may also include Criticized (troubled/workout) assets managed outside of the Special Asset Group.

Supplementary to the above, the LCO will also assist the Portfolio Group Manager in the tracking of monitoring deliverables on transactions still managed by Global Leasing’s front-end Credit Underwriters for resolution and transfer to the Portfolio Management Group (“PMG”) for primary monitoring.  These fully funded transactions have not yet been transferred to PMG for full monitoring but require ongoing review and credit analysis to assure that appropriate obligor and facility risk ratings and periodic reviews are both accurate and completed timely.  The LCO will be tasked with the direct review and updating of any necessary financial analysis, risk rating scorecards, and status reviews on these transactions, working with the Credit Officer to assure file completeness and ultimate transfer to the PMG.   

The successful LCO will be able to simultaneously manage multiple demands and priorities while maintaining organization, adherence to deadlines and compliance with policy.  Additionally, the ability to identify, anticipate and to proactively address potential credit problems early in the process is critical, with appropriate escalation to credit peers or managers. 

Responsibilities:

• Reviews existing end-user credit opportunities including identification and assessment of risks and identifies mitigating factors
• Partners with client-facing teammates to consult on extensions and restructures of existing exposures, providing product expertise and consultation necessary to deliver the best possible solution to the client.
• Prepares detailed write-ups, analyzing credit risk while adhering to internal policy, procedures and regulatory requirements
• Manages the credit process for a portfolio of clients including reviewing financial statements, assessing the client's compliance with financial covenants, confirming the accuracy of risk ratings, and recommending changes as warranted

Required Qualifications:

• 5+ years’ experience in the High Net Worth, commercial banking, leasing, or finance industry
• Credit Underwriting or Portfolio Management Experience
• Experience in reviewing High Net Worth Personal Financial Statements and Tax Returns, as well as Corporate Financial Statements.
• Proficient in Microsoft Office

Desired Qualifications:

• Prior experience in Risk Rating Scorecard preparation
• Prior Lease finance experience
• Prior experience in Corporate Aircraft Financing
• Proficient in Moody's CreditLens - Financial Statement Spreading
• Prior experience in high risk Criticized/Classified Exposures
• Undergraduate degree in finance or accounting

Skills:

• Financial Analysis
• Loan Structuring
• Research Analysis
• Risk Management
• Underwriting
• Account Management
• Credit Documentation Requirements
• Credit and Risk Assessment
• Decision Making
• Issue Management
• Analytical Thinking
• Coaching
• Collaboration
• Critical Thinking
• Customer and Client Focus

Shift:

Hours Per Week: