Senior Credit Underwriter-Global Wealth and Investment Management

Senior Credit Underwriter-Global Wealth and Investment Management

Charlotte, North Carolina;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:

This job is responsible for credit underwriting new and existing clients in partnership with a private bank credit team. Key responsibilities include independently managing transactions or portfolios of moderate to high 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 Global Wealth Investment Management-Sr Credit Underwriter is aligned with the Private Client Advisor (PCA) in their goal of developing new custom lending relationships with strategic wealth clients, driving funded loan balance and revenue growth in a responsible and profitable manner, and managing a portfolio of existing lending relationships. The Sr Credit Underwriter performs and documents in-depth financial analysis for credit approval of ultra-high-net-worth clients (individuals, family offices, trusts, special wealth vehicles, etc.) in compliance with policy, procedures, and GWIM underwriting standards and guidelines.

Responsibilities:

• Manages a portfolio of clients underwriting moderate to high 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

• Completes Credit Approval Memos (CAM) and Modifications to obtain credit approval for complex, custom loan products (marketable securities, commercial real estate, fine art, hedge fund, yacht, unsecured and subscription finance)

• Serve as main point of contact for regional portfolio of credit relationships

• Synthesize appropriate financial information to understand the client’s financial standing, including liquidity, leverage, cash flow, key risks/mitigants and legal structure (trusts, special wealth vehicles, etc.) and apply sound reasoning to arrive at an appropriate credit decision

• Review and negotiate loan structure and covenants during documentation process, according to creditworthiness, collateral, and risk appetite

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

Required Qualifications:

•8+ years of private wealth management credit of commercial credit experience

•Strong financial analysis, accounting skills, and deal structuring for borrowers with complex balance sheets and income streams

•Proficiency in Word, Excel and PowerPoint

Desired Qualifications:

•Bachelor’s degree in business administration, finance, accounting or economics preferred

•Formal Credit Training and/or Commercial/Wealth Management credit experience preferred

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

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.

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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.

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.

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