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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:
Typically has 7-10+ years workout/commercial loan experience. Reports to a Commercial Special Assets Manager or Market Manager. Loans managed are usually more complex credits. Experience includes knowledge of bankruptcy law, workout strategies, commercial credit analysis, structuring and market dynamics. May have credit approval authority designated based on experience. Assists the Special Assets Manager or Market Manager in collection, expense, asset quality, and other goal setting along with various personnel functions, and will often serve as a secondary point of internal and external communications.

Skills:

• Adaptability
• Collection Management
• Critical Thinking
• Problem Solving
• Risk Management
• Credit and Risk Assessment
• Decision Making
• Financial Analysis
• Legal Structures and Legal Forms
• Underwriting
• Client Management
• Loan Structuring
• Negotiation
• Oral Communications
• Written Communications

The Special Assets Group manages the high risk/criticized commercial loan portfolio for the Global Banking (Business Banking, Commercial Banking and GCIB), Global Markets, GWIM and Small Business and Practice Solutions segments of Bank of America.  This position focuses primarily on the workout, collection, and rehabilitation of commercial loans in the Northeast Business Banking line of business.   A Senior Portfolio Officer is responsible for the management, workout, collection, and asset quality of a criticized loan portfolio with particular emphasis on the largest and most complex relationships.  The individual will be the primary contact for both internal and external communications associated with the loans in his/her assigned portfolio.  The successful candidate will be directly involved in workout strategies/negotiations, prepares and reviews credit underwritings, and is responsible for preparing recurring and special reports on a timely basis.  A SPO also participates in training and developing junior members of the team.  Reports to Region Executive.
 

Required Skills:

• 7+ years of workout/commercial loan experience
• 5+ years of portfolio management experience in commercial loans or equivalent environment
• Thorough knowledge of commercial credit analysis
• Excellent communication skills (written and oral)
• Strong negotiation skills
• Understanding of legal documentation
• Knowledge of bankruptcy law
• Attention to detail
• Working knowledge of loan structuring on A/R, inventory, equipment, other 
  commercial transactions, Real Estate and Asset Based Lending
• Real Estate and Asset Based Lending. Loans managed are usually more complex credits

***Please note the locations of the posting

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - RI - Providence - 1 Financial Plaza (RI1537)

Pay and benefits information

Pay range

$125,000.00 - $152,500.00 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.