Credit Officer-Global Markets Credit
New York, New York
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Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position.
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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 Credit Officer role requires a comprehensive skill set to effectively execute broad risk management responsibilities within Corporate & Financial Institutions Credit Risk. Responsibilities include: Develop and maintain a deep understanding of the Global Banking & Markets product spectrum; Responsible for driving speed to market and asset quality; Manages (primary account responsibility) a complex portfolio of Financial Institutions clients within the bank's risk appetite and risk strategies; Develop and maintain a deep understanding of the portfolio at the client, industry, and macro level in order to assess risk and craft value added solutions that balance risk and return; Independently assess the credit worthiness , including due diligence of prospective trading counterparties and establish appropriate terms and conditions to mitigate risk; Manage a complex portfolio of clients via actively monitoring the portfolio including changes in credit profile and compliance with credit agreements; Provide high quality and efficient credit approval to Corporate Banking, Investment Banking, Global Markets and Treasury while observing compliance of established credit policies and guidelines; Structure transactions and negotiate credit documentation including; ISDAs, and CSAs; Establish appropriate internal risk ratings for clients and implement accurate adjustments throughout the client's credit life cycle; Develop, maintain, and manage internal relationships with business partners including Corporate and Investment Bankers, Sales & Trading, Risk Management, Syndications, and Legal; Participate in strategic projects to support business goals.
Responsible for all aspects of the credit management of Private Equity Funds (PEF) supporting derivative trading products.
This is a high-volume and fast-moving portfolio that utilizes a risk-based approach to drive revenue while maintaining appropriate credit risk disciplines.
Responsibilities:
Credit analysis: Participate in initial and ongoing due diligence of PEFs. Perform quantitative and qualitative credit assessment, setting internal ratings and recommending credit limits.
Evaluate transactional risks associated with OTC and exchange traded derivatives (i.e. Foreign Exchange, Rates etc.)
Trade approval: Hold delegated approval authority to approve trading floor request (OTC derivatives) or to make recommendations to higher authority levels.
Relationship management: Build strong working relationships with external PEF clients, internal business partners including Sales, Structuring & Trading, Risk counterparts, Legal and Audit Function
Risk monitoring: Undertake regular exposure analysis including daily limit monitoring, stress testing and quarterly monitoring of financial performance and compliance with ISDA ATEs.
Trading documentation: Liaise with Legal and client in negotiating ISDAs
Quarterly Portfolio Risk Reviews: Preparation of portfolio statistics and commentary, industry/sector news & trends, portfolio updates, highlights of recent key trades and other key risk items of to note.
Required Qualifications:
3+ years of counterparty credit risk management with a focus on financial institutions (Private Equity or Hedge Funds a plus) due diligence experience required.
Proficient with Microsoft Office, trading counterparties, financial derivatives and ISDA negotiation.
Desired Qualifications:
Bachelors Degree in Finance or related field
Skills:
Analytical Thinking
Credit and Risk Assessment
Financial Analysis
Research Analysis
Underwriting
Attention to Detail
Business Acumen
Financial Forecasting and Modeling
Loan Structuring
Written Communications
Business Development
Collaboration
Critical Thinking
Portfolio Analysis
Stakeholder Management
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.
View your "Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088\EEOC\KnowYourRights6.12.pdf) " poster.
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
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.
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.
