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Credit Product Specialist, Global Wealth & Investment Management

New York, New York

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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:

The GWIM Credit Product Specialist acts as an extension of the Credit Executives. The Specialist is responsible for actively developing and supporting strategies to identify and deliver credit opportunities (e.g., LMA, ISBL, PCL, Custom Lending & Margin) to Financial Advisors existing wealth management clients and prospects. These responsibilities are achieved by ensuring wealth management clients are knowledgeable of the Banks full suite of GWIM credit solutions and by supporting the flawless delivery of these solutions through a high-touch advisor/client experience. The primary mission of the Credit Product Specialist is to establish new credit relationships with the financial advisors wealth management clients/ prospects in addition to supporting/ expanding existing GWIM credit relationships with the intent of generating balance and revenue growth with appropriate risk adjusted returns. The Specialist will work with Financial Advisors, Wealth Management Clients, GWIM Custom Lending Credit Executives, GWIM Credit leadership, Risk Management and other specialist organizations to meet these objectives.

Required Qualifications:

• 3 years of progressively responsible experience in the job offered or a related finance / banking occupation

Desired Qualifications:

• Bachelor’s degree or equivalent in Finance, Business Administration, Financial Economics, or related; and

• Prefer 3 years of experience in each of the following:

o Marketing and selling Private Wealth credit solutions with a goal to engage and influence audience behavior to address the lending needs of clients;

o Cultivating relationships with clients and Financial Advisors to identify credit opportunities and grow lending business;

o Negotiating with Underwriting and Risk on behalf of the client to structure sound loans including securities based loans, Commercial real estate loans, Recreational real estate loans, Hedge Fund loans, Fine Art loans, Yacht loans, Unsecured loans, and other miscellaneous loans;

o Conducting financial analysis including ratio analysis, DSC analysis, and collateral evaluations to determine viability of loan opportunities; and,

o Assessing existing portfolio of loans ensuring compliance with financial covenants and reporting, resolving margin calls, and debt service failures.

Skills:

• Attention to Detail

• Business Development

• Loan Structuring

• Portfolio Management

• Relationship Building

• Active Listening

• Analytical Thinking

• Client Management

• Customer and Client Focus

• Profitability Analysis

• Collaboration

• Financial Forecasting and Modeling

• Pipeline Management

• Sales Performance Management

• Sales Strategy

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

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$99,000.00 - $150,800.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

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.