Merchant Services Global Banking -Commercial Credit Underwriter II

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

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

Job Description:
This job is responsible for underwriting and structuring complex credit transactions with minimal oversight. Key responsibilities include approving credit transactions, while considering credit approval authority limits and utilizing independent judgment and discretion to approve merchant exposure. Job expectations include exercising approval authority while ensuring adherence to credit policies, guidelines, and applicable regulatory requirements and serving as the point of contact for driving commercial and small business credit solutions for the client.

The Credit Underwriter is responsible for underwriting and structuring of straightforward and complex credit transactions with minimal oversight from the Merchant Credit Global Banking Leader considering their credit approval authority limits and utilizing independent judgment and discretion to approve Merchant exposure.  They deliver financial, industry, economic and other analysis used to recommend and approve deals. The Credit Underwriters exercise their own single signature approval authority while also ensuring adherence to credit policies, guidelines, and applicable regulatory requirements.

The Credit Underwriter will be called on to take on customer facing responsibilities in obtaining background and financial information, articulating the banks position and negotiating more complex relationships. The Credit Underwriters provide ongoing coaching and support to their sales partners and other Credit team members.

This role is accountable for transaction risk including, but not limited to, reputation, operation, and credit risks, as well as ongoing portfolio management.  

Credit Underwriter maintains knowledge of other BofA products including debt capital solutions for commercial banking clients and Investment Banking and Treasury Management which have credit exposure, and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect. 

This role reports to the Merchant Services Global Banking Credit Manager or Executive and will be aligned to a Merchant Underwriting Team supporting Global Banking Merchant clients.  This role will specifically support activity for all Merchant Services clients with annual revenue of $5MM+.

Responsibilities:

• Performs underwriting and the structuring of more complex credit transactions 
• Researches and delivers financial, industry, economic, and other analysis to recommend and approve merchant exposure for the client
• Negotiates relationships and approves merchant exposure, while ensuring adherence to credit policies, guidelines, and applicable regulatory requirements
• Provides ongoing coaching and support to Sales partners and other Credit Products team members to help build and develop their credit acumen
• Negotiates with the client team on credit terms, performing full underwriting analysis, and preparing deal justification
• Perform financial, economic, industry, and other analysis of clients and prospects
• Design and execution of credit solutions, and the active management of asset quality
• Collaborates with the Relationship Manager (RM), Global Merchant Specialist (GMS), Treasury Solutions Officer (TSO), Enterprise Credit, SAG, and other product partners, when needed, to assess client needs, design integrated solutions, and deliver the bank to clients and prospects
• Provides credit underwriting and deal structure support, analysis, and decision recommendations for complex path credit transactions
• Serve as Credit approver in conjunction with Risk management based on credit approval grid and drives the internal credit approval process
• Structures and negotiates client merchant services contracts
• Take on customer facing responsibilities in obtaining background and financial information, articulating the bank’s position, and negotiating standard path relationships
• Spreading financial statements in Moody’s Credit Lens
• Reviewing and preparing Risk Rating scorecards

Required Skills:

• 3+ years of solid experience in commercial underwriting (Business Banking, Middle Market, Large Corporate, Leveraged Finance, Financial Sponsors or other highly complex credits), performing financial analysis, spreading financials, completing risk ratings, structuring approvals, and portfolio management
• Experience preparing and completing a variety of Risk Rating scorecards
• Strong communication and analytical/technical skills; including financial accounting, modeling and loan structuring
• Prior experience in a high volume commercial credit production environment

Desired Skills:

• 3+ years of underwriting Merchant Services exposure
• Experience reviewing and spreading financial statements in Moody’s Credit Lens
• BS/BA degree preferred or equivalent experience

Skills:

• Credit Documentation Requirements
• Credit and Risk Assessment
• Customer and Client Focus
• Financial Analysis
• Underwriting
• Attention to Detail
• Business Acumen
• Collateral Management
• Decision Making
• Recording/Organizing Information
• Collaboration
• Oral Communications
• Policies, Procedures, and Guidelines
• Prioritization
• Written Communications

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

Hours Per Week: