"Alerted.org

Structured Credit Executive

New York, New York

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

The Credit Executive (CE) is a client-facing role responsible for developing new custom credit relationships with strategic wealth clients, driving funded loan balance and revenue growth in a responsible and profitable manner, managing a portfolio of existing credit relationships, and educating PCA/PCM on our credit solutions and risk appetite. Within their targeted geographic territory, the CE leads the credit delivery process from beginning to end by partnering with PCA/PCM, Underwriting, Risk, Product Subject Matter Experts, Portfolio Management, and Servicing & Fulfillment. The CE brings thought leadership and credit expertise to structuring highly customized credit solutions to meet the unique needs of our ultra-high-net-worth clients.

The purpose of the CE is to proactively and responsibly deliver best-in-class credit expertise and innovative credit solutions to meet the unique needs of wealth clients. The CE educates PCA and clients on our credit platform capabilities and risk appetite in order to grow loans by increasing PCA engagement and penetration.

Objectives

Responsibilities

• Responsibly grow funded loans and revenue

• Build credibility by developing, deepening, and sustaining relationships with Private Bank Market leadership, Advisors, and clients

• Create a client-centric culture with in-depth knowledge of clients, timely renewals and issue resolution, and competitive deal structuring as the key point of client contact for credit

• Educate key partners and Advisors on platform capabilities and risk appetite to increase engagement and penetration

• Partner and collaborate with Underwriting, Risk, Operations, and Portfolio Management to deliver seamlessly

• Maintain asset quality within the defined GWIM risk appetite limits

• Create and execute on business plans cultivating strong relationships to build rapport, trust, and credibility with business partners and clients

• Business Development –

o Present/participate in meetings at Division, Market, and Office level

o Jointly call on custom lending clients and prospects with PCA client team

o Segment targeted PCA’s; prepare for, schedule and lead 1:1 PCA book reviews for credit opportunities

o Communicate monthly to PCA/PCM’s (success stories, topical information, insights, etc.)

o Review financing requests and opportunities and determine best Enterprise solution to meet client needs

o Timely pipeline / Salesforce management in partnership with LOB

o Effectively deliver tough messages to clients and partners

• Loan Origination / New Business

o Manage expectations through strong communications with clients, client teams and internal partners

o Frontline control for new credit opportunities by pre-screening lending requests and structuring creative loan solutions to meet goals of the clients and the Bank

o Own all aspects of credit request (includes analysis, structure, communication with business partners and client, negotiate, close, and ongoing management)

o Partner with client teams on collection of information from clients in a timely manner – financials, entity documents, other necessary information

o Conduct preliminary analysis and apply sound reasoning to determine viability of opportunities (run ratios, DSC analysis, SBL evaluations, ORR estimates, etc.)

o Engage with Product Specialist Executives (real estate, art, yacht, hedge funds) to assess and collaborate on best structure for loans

o Prepare and Present Deal Screen Memos, Deal Sheets, and Term Sheets

o Provide pricing analysis via Precision Lender

o Real Estate Deals –Provide summary of the property for accurate submission of Property Data Sheet (PDS) for engagement of appraisal bids by UW

o Review FAM spread for accuracy

o Review and approve CAMs for accuracy and to ensure it reflects the deal properly

o Ensure Due Diligence Investigations are ordered by UW for loans in a timely manner and coordinate for responses from clients on discoveries

o Review prepared loan document packages for accuracy ensuring in line with CAM approvals and business deal

o Negotiate terms/documents with clients and attorneys

o Facilitate loan closings with the client teams – closing logistics, original signatures, review and send for booking (in partnership with PCM as applicable)

• Loan Portfolio / Post Closing Needs

o Renewal management including partnering with client teams on collection of required information and working through the approval process with UW in timely manner

o Address failed covenants, past dues, and reporting items in partnership with UW’s

o Work with Underwriting and Risk on any modifications, restructures, etc.

Required Qualifications:

• 10 plus years of commercial credit or wealth management credit experience or a combination of lending and credit experience

• Familiarity with cash flow credit skills and related market influences (profiling, structuring, underwriting, pricing, delivery)

• Prior experience required with a financial institution focusing on sales, preferably in the high net worth space

• Strong verbal and written communication skills

• Strong problem solving skills and the ability to influence others while building strong partnerships

Desired Qualifications:

•Commercial Credit training strongly preferred

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) .

View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .

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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.