Team Developer - R

Job Description:

About Us

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!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview:

The team supports the Line of business on different activities covering various aspects of Origination & Underwriting of Commercial Mortgage Loan.  Here is a brief about few of the activities. The associate will be supporting on any one or group of activities based on business requirement.

Job Description:

• Underwriting - As a Lender, Bank of America does a thorough underwriting of the underlying mortgage before funding a loan by considering different aspects such as Financial Performance, Loan to Value, Credit Worthiness, Property  Condition, Occupants, Market, Location and accessibility. The BA Continuum supports the US underwriting team with the following activities.

• Appraisal Report
• Property Condition Report
• Seismic Report
• Lease Review
• Rent Roll Analysis

• Origination – As a Lender, Bank of America needs to identify potential borrowers/loan requests. GBS team reviews the borrower packages which includes the financials, rent roll and property information as part of sizing these loans to understand the borrower’s credibility

• Quality Control - As a Lender, Bank of America needs to ensure that the Quality of the information is error free in the banks relevant databases. GBS reviews the loan at funding stage of a deal to ensure the information available is accurate. The team does a due diligence and reports the discrepancies if any as this would have an impact while closing the deal.

• Asset Backed Securities - Asset-backed securities, called ABS, are bonds or notes backed by financial assets. Typically these assets consist of receivables other than mortgage loans, such as credit card receivables, auto loans, manufactured-housing contracts and home-equity loans.

Responsibilities*

Review and update Third Party Reports & Rent Roll in Backshop Review Lease Agreements and complete the Lease Reviews Complete the Quality Check of loans during funding stage of loan cycle Sizing of Loans with the available Borrower Package Support with monitoring - (a) Compliance reporting not handled via automation, (b) UCC filing dates & (c) New SFA data requirements for ABS Track legal docs and final credit memos through Imaging application Initial trade capture  Update trade capture with each amendment/renewal and upload file for new deals

Requirements*

• Education* - Commerce Graduate (B.Com /M.Com/MBA)
• Certifications If Any - NA
• Experience Range* - 5 to 7 years
• Foundational skills*

• Knowledge of Commercial Mortgages & Asset Backed Securities
• Knowledge of General Accounting & Principles
• Knowledge of Financial and Capital Markets
• Excellent Oral & Written Communication Skills

• Desired skills*

• Ability to work well under pressure
• Excellent problem solving & analytical skills
• Highly motivated individual with a diverse background in financial analysis

Work Timings* - 09:30 AM to 06:30 PM

Job Location* - Hyderabad