Sr AB Credit Officer, Asset Based Finance
Chicago, Illinois;Milwaukee, Wisconsin; Cleveland, Ohio; Auburn Hills, Michigan
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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:
The Senior Asset Based Credit Officer covers a portfolio of asset based lending clients, with responsibility for delivering credit solutions and managing risk. Bank of America's Asset Based Finance ("ABF") group provides asset-based loans to clients in the Global Commercial and Global Corporate and Investment Banks, partnering closely with relationship management and product partners. Typical focus is syndicated and sole lender facilities ranging in size from $20 million to up to $5 billion.
The role will be client-facing, with primary responsibilities including analyzing client trends to identify opportunities and manage risk and growing funded loans and credit revenue. Additional responsibilities would include pitching credit opportunities, reviewing and negotiating legal documentation, and overseeing the work of junior associates, including analysis of financial performance and preparation of approval documents.
The target candidate would be expected to handle more complex client relationships, as well as take a leadership role in managing bank groups and relationships with legal counsel, financial advisors, and financial sponsors. Some travel would be required to meet with clients.
Job Responsibilities:
Manages a portfolio of asset-based structured loans in the general industries space.
Proactively identifies credit solutions and opportunities to grow funded loans and spreads.
Actively monitors financial and collateral trends and recommend appropriate action.
Review requests for loan modifications
Analyzes financial performance, negotiates credit terms, drafts proposals, reviews and negotiates loan documents, and oversees preparation of recommendations for approval.
Participates in building client relationships.
Handles both performing credits as well as distressed/turnaround credits including managing accounts through restructurings and bankruptcy processes.
Required Qualifications:
5+ years' experience in asset based lending, commercial banking, or private credit
Sound understanding of credit, transaction structuring, and financial and collateral analysis
Detailed understanding of legal documentation
Desired Qualifications:
Bachelor's or Master's degree
Formal Credit Training
Experience with bankruptcy and restructuring matters
Skills:
Attention to Detail
Client Management
Decision Making
Underwriting
Credit Documentation Requirements
Critical Thinking
Portfolio Management
Problem Solving
Written Communications
Financial Analysis
Negotiation
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of America's Drug-free Workplace and Alcohol Policy, CLICK HERE .
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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
