Credit Underwriter I/II-Commercial Real Estate Banking
Chicago, Illinois;Los Angeles, California
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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:
The Portfolio Management Underwriter is responsible for the ongoing management and primary accountability for all monitoring and maintenance activities for an assigned portfolio of commercial real estate loans, primarily consisting of larger/complex client relationships. They monitor the operating performance and financial conditions of existing commercial real estate facilities to proactively identify issues and opportunities. PMUs deliver financial, industry, economic and other analysis to facilitate decision making and inform risk rating recommendations, while also ensuring adherence to credit policies, guidelines, and applicable regulatory requirements. Additionally, the PMU is responsible for providing underwriting analysis and approval recommendations for various Borrower requests related to assigned client base/facilities. They report to the Senior Credit Manager and partner closely with the Credit Team (Credit Risk Manager (CRM), Relationship Managers (RM), Credit Officers (CO), and Underwriters (UW)) to ensure Client needs/requests are being addressed. The PMU demonstrates strong judgement, sound credit skills, and is an active participant with the Credit Team in the credit approval process for complex clients/transactions.
Responsibilities:
Responsible for post close credit activity including documenting the conditions for pre-approved extensions and the associated legal documents.
Responsible for all monitoring and maintenance activities on an assigned portfolio including risk rating scorecards, annual sponsor/guarantor financial reviews, covenant compliance, construction monitoring, interest reserve analysis, lease reviews, loan reporting, and site inspections.
Activities associated with the minor modification of existing credits and the extension of facilities which have qualified for defined extension options.
Collateral analysis, sponsor/guarantor financial analysis, and review of related legal documents.
Credit facilities include bridge, term, and construction loans for commercial real estate developers and investors. The PMU is responsible to drive process simplification and improvement under the direction of management.
Required Qualifications:
2+ years commercial credit financial analysis and portfolio management experience
Commercial Credit Training
Desired Qualifications:
Bachelor's degree in finance, accounting, economics or similar
Certificate from accredited real estate educational program
Large money center bank experience
CRE portfolio management experience
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
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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