• Job Description

  Req#: 25020164

  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 managing and guiding the direction of market risk management functions within a product area or several product areas. Key responsibilities include ensuring global consistency of policies, procedures, analysis, monitoring and reporting of market risk for a product area. Job expectations include overseeing communication in a timely manner and escalating any significant existing and emerging credit, compliance, or operational risk to the Chief Risk Officer and appropriate line of business executives.

  
  Responsibilities:

  • Provides leadership direction, assesses, develops, motivates, and retains the team in a successful manner within the credit risk management function, directing staff in establishing credit risk management procedures and standards
  • Oversees the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
  • Provides guidance on the credit approval process and accountable for overall portfolio performance and asset quality, including underwriting, structuring, and monitoring tasks
  • Provides insight on analysis, inspects and/or develops credit risk reporting for specific products, monitors and reports on key indicators for changes in credit quality to communicate to senior management
  • Ensures adherence to policy and standards and ensures first line credit officers and managers are performing in an appropriate manner with due diligence that the risk is within the bank's defined risk appetite, uses subject matter expertise of stress testing and its applicability to credit risk
  • Monitors for adherence to industry risk governance, as well as monitoring for potential operational, reputational, and market risk issues
  • Identifies risks early that could impact the assigned portfolio and coordinates with business counterparts to resolve portfolio issues

  Skills:

  • Credit and Risk Assessment
  • Critical Thinking
  • Executive Presence
  • Organizational Effectiveness
  • Regulatory Compliance
  • Business Intelligence
  • Client Management
  • Decision Making
  • Inclusive Leadership
  • Stakeholder Management
  • Financial Accounting
  • Influence
  • Innovative Thinking
  • Interpret Relevant Laws, Rules, and Regulations
  • Portfolio Analysis

  This individual will be part of the High Net Worth Credit Risk Management team and provide Credit Risk oversight for markets supporting the Private Bank and Merrill Lines of Business. The position requires strong business acumen, exceptional credit skills, and experience in the underwriting, approval, and administration of commercial loan transactions. In this role, the individual will frequently interact with senior leaders across the Front Line of Business, Enterprise Credit, and Global Risk organizations.

  
  Job Specific Responsibilities:

  • Efficiently process credit requests in a timely, thoughtful, and professional manner while engaging in routines necessary to provide appropriate oversight of risk activities within assigned markets.
  • In conjunction with key partners, execute business strategy and approve complex transactions and/or initiate appropriate escalations while striking the right balance between risk and reward. Must effectively challenge partners to ensure decision making is disciplined and within our Risk Appetite.
  • Proactively manage the underlying loan portfolio in accordance with the bank’s Risk Framework. Take ownership for identifying, escalating, and resolving emerging risks.
  • Leverage industry expertise and knowledge across the Risk platform and provide required leadership to maintain a strong risk culture.
  • Support Responsible Growth by maintaining a full understanding of issues and trends impacting our clients and business partners. Assist business partners by helping to remove obstacles and resolve issues to achieve responsible and sustainable growth.

  Experience/Required Skills:

  • Prior experience as a credit and/or risk professional with 10+ years of experience in the underwriting and/or approval of credit exposure.
  • College degree in finance/accounting or related fields. Advanced degree in finance is preferred.
  • Strong written and oral communication skills including in depth knowledge of risk policies and procedures.
  • Strong leadership/communication skills necessary to implement change and resolve issues/conflicts in a balanced and professional manner.
  • Other: strong credit/risk assessment abilities, critical thinker, executive presence, strong business acumen, effective decision maker, in depth understanding of finance & accounting, in depth understanding of relevant laws, rules, and regulations.

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, 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.

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