Senior Credit Underwriter – Asset Based Lending

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 supporting credit underwriting and monitoring for new and existing clients in partnership with a credit team. Key responsibilities include independently managing transactions or portfolios of limited to moderate complexity, completing and reviewing credit analysis, evaluating risks, and writing financial analysis. Job expectations include leading the process, ensuring timely and accurate analysis, and coaching teammates on credit requirements.

The Senior Credit Underwriter is primarily responsible for evaluating financing opportunities, underwriting credit exposure and negotiating loan documentation for new customers of Bank of America Business Capital (BABC).

BABC, part of Bank of America’s Enterprise Credit division, provides ABL loans in a variety of industries including manufacturers, distributors, service companies, etc. BABC’s ABL credit facilities range from $5 million to over $2 billion in size and are collateralized primarily by accounts receivable and inventory. 

Responsibilities:

• Manages a portfolio of clients supporting underwriting and/or monitoring requirements with limited to moderate complexity

• Independently works with Relationship Management, and Risk teammates to understand structuring needs and requirements

• Delivers financial modeling, loan structure, industry, economic, and other analyses to team members to support the loan decision-making process

• Reviews work of junior teammates to provide feedback/coaching and ensure compliance with laws, rules, regulations and policy procedure

• Has credit approval for certain credit actions

• Leads loan structure conversations and completion of loan documentation with internal/external legal partners

• Works in a team setting with business development officers, relationship managers and/or product specialists and are responsible to develop, structure, analyze, covenant, document, fund and close ABL transactions.

• Interfaces directly with clients and prospects, financial sponsors and/or financial intermediaries (including outside accountants, legal counsel, appraisers, field examiners, etc.). 

• Must gain a full understanding of Bank of America credit policies and procedures in order to identify and resolve issues during the underwriting, documentation and closing processes.

• Evaluates creditworthiness and provides analysis and decisioning on whether a client should receive a credit facility

• Partners with Credit Officers, Relationship Management, and Risk teammates to assess and deliver credit solutions

• Monitors the client's operating performance and financial condition, proactively identifying issues and opportunities

• Delivers financial modeling, loan structure, industry, economic, and other analysis to team members to support the loan decision-making process

• Ensures adherence to credit policies, guidelines, procedures, and applicable regulatory requirements

• Analyzing new prospects for credit quality and ABL potential, including financial and projections

• Evaluate collateral from a broad spectrum of industries for suitability for asset-based facilities

• Assist in negotiation of term sheets and credit agreements with prospective clients

• Prepare internal documentation to evaluate new opportunities to include pre-screens and final approval documentation.

• Work closely with risk management on approvals; present borrower and structure to risk committee in order to secure deal approval

• Work with outside counsel and other third parties, including appraisers and field examiners, to document and close transactions

Required Qualifications:

• 5+ years’ experience credit, underwriting, and structuring of corporate lending transactions

• An experienced credit professional capable of independent activity on complex and sensitive credit transactions. 

• Deep knowledge of and ability to work with Legal Documentation (commitment papers, term sheets, credit agreements, intercreditor agreements, etc.)

• Able to establish and maintain collaborative partnerships with both internal and external clients

• Demonstrates strong team-minded behavior; works constructively to create win-win solutions that build trust

• Demonstrates deep and broad business acumen with strong credit and technical skills.

• Easily navigates multiple client and support organizations; able to engage and gather resources through various business partners to achieve successful outcomes.

Desired Qualifications:

• 10+ years of asset-based experience

• Familiarity with asset-based lending across broad industries, including specific sector risks and nuances

• Completion of formal credit training

• BA/BS Degree with concentration in Finance, Accounting or related

• Demonstrates sound judgment and acts with speed - able to achieve results quickly

Skills:

• Attention to Detail

• Credit and Risk Assessment

• Financial Analysis

• Underwriting

• Written Communications

• Analytical Thinking

• Credit Documentation Requirements

• Financial Forecasting and Modeling

• Recording/Organizing Information

• Business Acumen

• Collaboration

• Collateral Management

• Loan Structuring

• Prioritization

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

Shift:

Hours Per Week: