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 role is responsible for analyzing and interpreting the creditworthiness of transactions backed by pools of consumer and commercial assets for clients looking to access the ABS market; asset class coverage will be diversified across a broad variety of industries including auto loans & leases, student loans, commercial equipment loans & leases, digital infrastructure receivables, and transportation assets such as aircraft, railcar, and shipping containers and vessels, etc.. The role will evaluate credit risks and structural protections and be responsible for writing/reviewing credit approval memos for new lending opportunities and renewals/annual reviews. Key responsibilities include analyzing qualitative and quantitative data such as client's financials, projections, asset performance, industry data, covenant compliance, and collateral appraisals to ensure compliance with structural requirements the bank's risk appetite. Job expectations include completing regular monitoring and underwriting tasks and supporting key internal stakeholders to achieve successful execution of new transactions.
Responsibilities:
- Analyzes asset performance by comparing it to past performance, projections, and industry standards
- Reviews transaction reporting, assesses the client's compliance with performance covenants, and renews risk ratings, while recommending changes as warranted
- Assists in the underwriting, credit risk analysis, negotiation, and closing of new transactions or existing transactions, while adhering to all relevant policies and procedures
- Complete risk rating scorecards based on results of cashflow stress analysis and assessing compliance with internal scorecard methodology
- Review new business opportunities being presented by the front line, provide early feedback on structure/terms and client selection in the screening process to ensure transactions fit within risk appetite
- Partner with front line unit and credit officers with structuring, underwriting, and documenting credit solutions for clients and with managing client relationships
- Assisting with ongoing and ad hoc reporting on portfolio composition and look-through asset attributes
**Required Qualifications: **
- 2+ years of experience in commercial credit risk management, credit underwriting, structuring, loan origination, or public rating agencies.
- Robust understanding of corporate finance and accounting concepts.
- Exposure to reviewing a variety of lending transactions including collateral based lending facilities and derivatives.
- Proficiency with Word, Excel and PowerPoint, along with ability to quickly learn new programs and applications
Desired Qualifications:
- Bachelor's degree in Finance, Accounting, or Economics majors preferred with strong academic credentials.
Skills:
- Analytical Skills
- Research Analysis
- Attention to Details
- Underwriting
- Credit and Risk Assessment
- Critical Thinking
- Workflow Management
- Problem Solving
- Written Communications
- Financial Analysis
- Collaboration
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
$60,800.00 - $110,000.00 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.