Merchant Services Global Banking -Commercial Credit Underwriter II
Chandler, Arizona;Newark, Delaware; Charlotte, North Carolina; Plano, Texas
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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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
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 underwriting and structuring complex credit transactions with minimal oversight. Key responsibilities include approving credit transactions, while considering credit approval authority limits and utilizing independent judgment and discretion to approve merchant exposure. Job expectations include exercising approval authority while ensuring adherence to credit policies, guidelines, and applicable regulatory requirements and serving as the point of contact for driving commercial and small business credit solutions for the client.
The Credit Underwriter is responsible for underwriting and structuring of straightforward and complex credit transactions with minimal oversight from the Merchant Credit Global Banking Leader considering their credit approval authority limits and utilizing independent judgment and discretion to approve Merchant exposure. They deliver financial, industry, economic and other analysis used to recommend and approve deals. The Credit Underwriters exercise their own single signature approval authority while also ensuring adherence to credit policies, guidelines, and applicable regulatory requirements.
The Credit Underwriter will be called on to take on customer facing responsibilities in obtaining background and financial information, articulating the banks position and negotiating more complex relationships. The Credit Underwriters provide ongoing coaching and support to their sales partners and other Credit team members.
This role is accountable for transaction risk including, but not limited to, reputation, operation, and credit risks, as well as ongoing portfolio management.
Credit Underwriter maintains knowledge of other BofA products including debt capital solutions for commercial banking clients and Investment Banking and Treasury Management which have credit exposure, and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect.
This role reports to the Merchant Services Global Banking Credit Manager or Executive and will be aligned to a Merchant Underwriting Team supporting Global Banking Merchant clients. This role will specifically support activity for all Merchant Services clients with annual revenue of $5MM+.
Responsibilities:
Performs underwriting and the structuring of more complex credit transactions
Researches and delivers financial, industry, economic, and other analysis to recommend and approve merchant exposure for the client
Negotiates relationships and approves merchant exposure, while ensuring adherence to credit policies, guidelines, and applicable regulatory requirements
Provides ongoing coaching and support to Sales partners and other Credit Products team members to help build and develop their credit acumen
Negotiates with the client team on credit terms, performing full underwriting analysis, and preparing deal justification
Perform financial, economic, industry, and other analysis of clients and prospects
Design and execution of credit solutions, and the active management of asset quality
Collaborates with the Relationship Manager (RM), Global Merchant Specialist (GMS), Treasury Solutions Officer (TSO), Enterprise Credit, SAG, and other product partners, when needed, to assess client needs, design integrated solutions, and deliver the bank to clients and prospects
Provides credit underwriting and deal structure support, analysis, and decision recommendations for complex path credit transactions
Serve as Credit approver in conjunction with Risk management based on credit approval grid and drives the internal credit approval process
Structures and negotiates client merchant services contracts
Take on customer facing responsibilities in obtaining background and financial information, articulating the bank's position, and negotiating standard path relationships
Spreading financial statements in Moody's Credit Lens
Reviewing and preparing Risk Rating scorecards
Required Skills:
3+ years of solid experience in commercial underwriting (Business Banking, Middle Market, Large Corporate, Leveraged Finance, Financial Sponsors or other highly complex credits), performing financial analysis, spreading financials, completing risk ratings, structuring approvals, and portfolio management
Experience preparing and completing a variety of Risk Rating scorecards
Strong communication and analytical/technical skills; including financial accounting, modeling and loan structuring
Prior experience in a high volume commercial credit production environment
Desired Skills:
3+ years of underwriting Merchant Services exposure
Experience reviewing and spreading financial statements in Moody's Credit Lens
BS/BA degree preferred or equivalent experience
Skills:
Credit Documentation Requirements
Credit and Risk Assessment
Customer and Client Focus
Financial Analysis
Underwriting
Attention to Detail
Business Acumen
Collateral Management
Decision Making
Recording/Organizing Information
Collaboration
Oral Communications
Policies, Procedures, and Guidelines
Prioritization
Written Communications
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
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 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.
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