Global Markets Credit ("GMC") is responsible for ensuring robust and consistent credit underwriting for Global Markets lending activities, particularly on a non-recourse basis. Within GMC the Specialty Finance coverage area focuses on underwriting structured loans including non-recourse financing secured by ABS assets (consumer and commercial financial assets), high yield corporate loans, equities and residential mortgage related assets. Associates will be expected to develop strong subject matter expertise in securitized lending and work closely with various lines of business, banking and risk partners.
Key responsibilities include:
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 the front line unit in recommending transactions for risk approval and respond to risk review and challenge
Partner with the front line unit in preparation of underwriting materials, manage overall creation and submission of credit approval memo's, approve credit memo's on behalf of the line of business and secure risk approvals. Engage partners including client coverage areas, legal and market risk as required
Ongoing monitoring of transactions including client and asset performance
Engagement in various other aspects of credit underwriting including development of policy and procedures, scorecards, asset quality monitoring etc.
Support firm wide Wholesale Credit initiatives and liaise with applicable stakeholders across the firm on emerging topics as needed
Required Job Skills:
Bachelor's degree required
2+ years of experience in financial services. Relevant prior experience may include roles in: credit risk management, structuring, trading, asset management, origination, rating agencies
The candidate will likely have had experience of reviewing a variety of structured transactions including asset based lending facilities and derivatives facing securitization vehicles. An understanding of counterparty risk measurement and metrics (expected exposure, etc.) and the ability to factor in non-credit specific issues such as capital and accounting treatment into risk recommendations is desired
Candidate should exhibit strong personal drive, individual initiative, a sense of urgency, and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility
Strong organizational, oral, and written communication skills, with ability to communicate effectively with all levels of risk, support, and business partners
Proficiency with Bloomberg, Word, Excel and PowerPoint, along with ability to quickly learn new programs and applications
High level of attention to detail
1st shift (United States of America)
Hours Per Week:
Internal Number: 21007339
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.