Global Wealth & Investments

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 a diverse and 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.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

The Credit Manager (CM) is aligned with the Credit Executive (CE) 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 CM 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

Purpose:

The purpose of the CM is to collaborate with sales, credit and risk partners to deliver custom credit solutions for our clients through underwriting excellence.

Objectives:

•Support loan growth through quality underwriting activities

•Build credibility by developing, deepening, and sustaining a value-driven relationship with business partners

•Collaborate with Sales, Risk, Operations, and Portfolio Management to deliver seamlessly, execute transactions in a timely manner, and operate the business inside of established metrics

•Maintain asset quality, identify, escalate, and debate issues and deliver accurate and consistent data

•Create a client-centric culture with in-depth knowledge of clients, timely renewals and issue resolution, and competitive deal structuring as a key partner to the CE and LOB

Necessary Activities (Includes but not limited to):

•Complete 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

•Ability to cut to the heart of a complex issue and document in a clear and concise manner

•Provide advanced lending guidance and policy expertise with upfront deal discussions and structuring

•Consistently apply established procedures, policies, and practices to make financial decisions (accurate spreads, risk rating, financial modeling, necessary approvals, etc.)

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

•Proactively manage pipeline and timely deal flow of new and existing transactions

•Day to day management of loan portfolio in conjunction with partners to ensure timely and accurate execution of: collateral releases, SER preparation, renewals, resolution of failed covenants, risk rating migrations, CREEAS input, loan modifications and waivers, and past dues 

•Identify, recommend and lead process improvements

•Train, develop and mentor new and junior team members

•Serve as product, procedure and/or policy subject matter expert

•Performs back-up responsibilities for Underwriting Manager

Required Qualifications:

• Strong financial analysis, accounting skills, and deal structuring for borrowers with complex balance sheets and income streams
• 10+ years of commercial/private wealth management credit experience
• Strong negotiation and communication skills
• Proficiency in Word, Excel and PowerPoint
• Excellent interpersonal skills and the ability to build business
• partnerships with risk, services and client teams who may not be co-located

Desired Qualifications:

• Formal Credit Training and/or Commercial/Wealth Management credit experience preferred
• Bachelor’s degree in business administration, finance, accounting or economics preferred

Skills:

• Attention to Detail
• Credit Documentation Requirements
• Credit and Risk Assessment
• Financial Analysis
• Underwriting
• Analytical Thinking
• Collaboration
• Loan Structuring
• Portfolio Analysis
• Written Communications
• Collateral Management
• Continuous Improvement
• Decision Making
• Mentoring
• Portfolio Management

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

California: The following laws or regulations restrict or prohibit the hiring of individuals with certain specified criminal history for the position: FINRA

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - CA - Newport Beach - 500 Newport Center Dr - Newport Center (CA9165), US - CA - Pasadena - 800 E COLORADO BLVD (CA9810)Pay and benefits informationPay range$106,500.00 - $155,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.