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: 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, 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.
This position is responsible for the delivery of integrated credit solutions to US State and Local governmental entities, including public higher education. Partner closely with client-facing teammates to consult on sales opportunities and provide the product expertise and consultation necessary to deliver the best possible solution to the client. Key responsibilities include underwriting and negotiating new transactions, partnering with client-facing teammates to consult on sales opportunities, and providing the product expertise to deliver effective client solutions. Partner closely with client-facing teammates to provide the product expertise and consultation necessary to deliver the best possible solution to the client. Proactively partners with client teams to plan key credit relationship strategy focusing on balance of risk and reward. Directly accountable for managing credit quality and the approval process through interaction with Risk Management Officers.
Responsibilities:
- Leads the credit analysis process with the support of other analysts and associates
- Partners with Credit Officers, Relationship Management, and Risk teammates to understand structuring needs and requirements
- Monitors operating performance and financial condition, proactively identifying issues and opportunities
- Assists in delivery of 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
- May have primary coverage responsibility for a portfolio of clients with limited complexity and credit approval for certain credit actions
- Participate in loan structure conversations and completion of loan documentation with internal/external legal partners
- Builds projection models for the client (as needed) based on historical performance, industry forecasts, and other due diligence findings
- Pre-screen new transactions for existing and new clients to determine credit worthiness and appropriate credit product solutions.
- Analyzing US State and Local governmental entities’ financial statements.
- Responsible for underwriting credit approval memoranda for mandated transactions, incorporating thorough credit analysis and due diligence.
- Participates in ongoing documentation negotiations as required.
Required Qualifications:
- 5+ years of experience in commercial banking, finance or credit ratings industries with significant municipal/public finance credit experience.
- Experience in the analysis and structuring of complex transactions
- Strong credit and risk analysis skills
- Strong presentation, structuring and financial statement analysis skills
- Proven ability to analyze, interpret and negotiate third party documentation
- Proven ability to identify trends and emerging risks in underwriting and client selection
- Proficient Microsoft Office skills
Desired Qualifications:
- Undergraduate degree in finance, accounting or related field.
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
Shift:
1st shift (United States of America)
**Hours Per Week: **
40
Pay Transparency details
US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - RI - Providence - 1 Financial Plz - 1 Financial Plaza (RI1537)
Pay and benefits information
Pay range
$80,000.00 - $162,500.00 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.