Credit Officer II

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:

A Credit Officer II covers a portfolio of asset-based lending clients, with responsibility for delivering credit solutions and managing risk.  Bank of America’s Asset Based Finance (“ABF”) group provides asset-based loans to clients in the Global Commercial and Global Corporate and Investment Banks, partnering closely with relationship management and product partners.  Typical focus is syndicated and sole lender facilities ranging in size from $20 million to up to $5 billion.

The role will be client-facing, with primary responsibilities including analyzing client trends to identify opportunities and manage risk and growing funded loans and credit revenue.  Additional responsibilities would include pitching credit opportunities, reviewing and negotiating legal documentation, and overseeing the work of junior associates, including analysis of financial performance and preparation of approval documents.

The target candidate would be expected to handle more complex client relationships, as well as take a leadership role in managing bank groups and relationships with legal counsel, financial advisors, and financial sponsors.  Some travel would be required to meet with clients.

Responsibilities:

• Partners with relationship management and product partners to assess clients’ credit needs and create solutions
• Leads loan structure conversations and negotiates loan documentation with clients and internal/external legal partners
• Drives credit and risk approval processes for new credit originations, renewals, increases, and modifications
• Leads ongoing monitoring efforts for a portfolio of clients in compliance with regulations, policy and procedure
• Drives the growth of funded loans and revenue while mitigating risks, maintaining asset quality and adhering to regulatory requirements
• Serves as an escalation point for complex credit transactions
• Mentors and supports associates
• Manages a portfolio of asset-based structured loans in the general industries space.
• Proactively identifies credit solutions and opportunities to grow funded loans and spreads.
• Actively monitors financial and collateral trends and recommends appropriate action.
• Review requests for loan modifications
• Analyzes financial performance, negotiates credit terms, drafts proposals, reviews and negotiates loan documents, and oversees preparation of recommendations for approval.
• Participates in building client relationships.
• Handles both performing credits as well as distressed/turnaround credits, including managing accounts through restructuring and bankruptcy processes

Required Qualifications:

• 10+ years’ experience in asset-based lending, commercial banking, or private credit
• Sound understanding of credit, transaction structuring, and financial and collateral analysis
• Detailed understanding of legal documentation
• Ability to draft concise, accurate and clear credit approvals with minimal oversight.
• Meet regularly with clients to growth the relationship, understand their needs, address concerns, and work through issues in a timely and effective manner.
• Partner with relationship managers and product partners across the bank to support responsible business growth and deliver client solutions.

Desired Qualifications:

• Bachelor's or Master’s degree or equivalent experience preferred
• Formal Credit Training
• Experience with bankruptcy and restructuring matters

Skills:

• Business Acumen
• Coaching
• Decision Making
• Hiring and Onboarding
• Loan Structuring
• Collaboration
• Credit Documentation Requirements
• Oral Communications
• Risk Management
• Written Communications
• Change Management
• Client Solutions Advisory
• Executive Presence
• Organizational Effectiveness
• Underwriting
• Attention to Detail
• Client Management
• Decision Making
• Underwriting
• Credit Documentation Requirements
• Critical Thinking

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - CT - Hartford - 185 ASYLUM ST - CITY PLACE 1 (CT2500), US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100)

Pay and benefits information

Pay range$119,000.00 - $200,000.00 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.