Senior Credit Underwriter-Global Wealth and Investment Management
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Job Location:
Charlotte, VT - USA
Monthly Salary:
Not Disclosed
Posted on:
Yesterday
Vacancies:
1 Vacancy
Job Summary
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 credit underwriting new and existing clients in partnership with a private bank credit team. Key responsibilities include independently managing transactions or portfolios of moderate to high complexity completing and reviewing credit analysis evaluating risks and writing financial analysis. Job expectations include leading the process ensuring timely and accurate analysis and coaching teammates on credit requirements. The Global Wealth Investment Management-Sr Credit Underwriter is aligned with the Private Client Advisor (PCA) 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 Sr Credit Underwriter 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.
Responsibilities:
- Manages a portfolio of clients underwriting moderate to high complexity
- Independently works with Relationship Management and Risk teammates to understand structuring needs and requirements
- Delivers financial modeling loan structure industry economic and other analyses to team members to support the loan decision-making process
- Reviews work of junior teammates to provide feedback/coaching and ensure compliance with laws rules regulations and policy procedure
- Has credit approval for certain credit actions
- Leads loan structure conversations and completion of loan documentation with internal/external legal partners
- Completes 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 clients 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
- Review and negotiate loan structure and covenants during documentation process according to creditworthiness collateral and risk appetite
Skills:
- Attention to Detail
- Credit and Risk Assessment
- Financial Analysis
- Underwriting
- Written Communications
- Analytical Thinking
- Credit Documentation Requirements
- Financial Forecasting and Modeling
- Recording/Organizing Information
- Business Acumen
- Collaboration
- Collateral Management
- Loan Structuring
- Prioritization
Required Qualifications:
8 years of private wealth management credit of commercial credit experience
Strong financial analysis accounting skills and deal structuring for borrowers with complex balance sheets and income streams
Proficiency in Word Excel and PowerPoint
Desired Qualifications:
Bachelors degree in business administration finance accounting or economics preferred
Formal Credit Training and/or Commercial/Wealth Management credit experience preferred
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)Hours Per Week:
40Required Experience:
Senior IC
Key Skills
About Company
What would you like the power to do? At Bank of America, our purpose is to help make financial lives better through the power of every connection.
