Credit Review Senior Portfolio SpecialistDallas, Texas;Stamford, Connecticut; East Hartford, Connecticut; Charlotte, North Carolina; Providence, Rhode IslandJob Description:At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!Job Description:Working with Portfolio Manager(s), establish and execute a risk based coverage plan for specific portfolio(s). Coverage plan to include, at a minimum, examinations, transaction reviews, risk assessments and issue management.Serve as subject matter expert for and/or lead risk-based and regulatory examinations.Credit Review provides an independent assessment of credit decisions and the effectiveness of credit processes across the bank’s credit platform, identifies existing and emerging risks, and reports its findings to various stakeholders, including executive management, the Board of Directors or committee thereof, external auditors and regulatory agencies.The Portfolio Specialist works together with the Credit Review Portfolio Manager(s) to establish and execute a risk-based coverage plan for a specific portfolio(s) or set of portfolios for assessing the quality of credit decisioning and the effectiveness of credit processes and policies. Key responsibilities include executing transaction reviews, leading examinations as an Examiner-in-Charge (EIC) or Assistant Examiner-in-Charge (AEIC), secondary reviews of transaction testing completed by other examiners and issues management. Manages field work capacity for exams to ensure accurate and timely execution of Credit Review examinations. Coaches, mentors, and reviews the work product of new or junior team members.Establishes working relationships with relevant Risk and regulatory partners to facilitate ongoing dialogue of key issues and emerging risks. Additionally, assist the Portfolio Manager(s) in preparing quarterly Business Assessment Reports and Coverage Plans; maintains awareness of current economic trends and its impact on credit portfolios.We are looking for a Portfolio Specialist to join our dynamic, high-energy Credit Review team supporting review of Global Markets, Financial Institutions and Global Wealth and Investment Management businesses.Responsibilities:
Either individually or working with Portfolio Manager(s), establish and execute a risk-based coverage plan for specificportfolio(s). CoveragePlan to include, at a minimum, examinations, transaction reviews, risk assessments and issue management
Serve as subject matter expert for and/or lead risk-based and regulatory examinations
Perform transactional testing of credit process execution of new and existing clients, and provide direct and timely feedback on transactional reviews completed by others
Effectively assimilate information from various sources to identify emerging risks
Provide input into staffing and resource allocations
Build and implement tactical on-boarding plans for new examiners
Provide periodic updates to business heads and executive management, including communication of examination and monitoring results, new issues and emerging risks
Issue management, including approval of issue severity ratings, action plans, ongoing issue status tracking and oversight of issue validation
Track and follow observations from exams/monitoring that don’t yet rise to the level of issues
Actively engage with Corporate Audit to ensure ongoing awareness of review activity, coordination, and ongoing risk assessment
Actively participate in regulator meetings, liaise with regulators to provide periodic updates on monitoring/exam results, and respond to inquiries from regulators and other external reviewers
Provide input to top of house reporting for Board and senior management
Drive a culture of continuous improvement by leading or participating in complex or multiple projects
Produce quality, timely work
Maintain well-written, easy to follow work papers in accordance with Credit Review guidelines and best practices
Raise potential areas of concern for QA team to review
Skills:
Extensive commercial credit related experience, including deep understanding of large or complex portfolios. Capital Markets experience with knowledge of Counterparty Credit Risk (traded products) strongly preferred.
Experience in risk management, lending and/or regulatory agencies
Excellent credit analysis and project management skills, excellent verbal and written communication, strong interpersonal and leadership skills
Data manipulation and analysis skills
Effective process assessment skills - the ability to identify control gaps and their implications to the broader population
Ability to support conclusions through fact-based analysis and ability to influence senior leaders
Ability to manage multiple complex tasks while delivering high quality results
Experience navigating a matrix organization
Independent and takes initiative
Resourcefulness in identifying, assessing, and reporting on emerging risks
Experience with a Credit Review examination process
Proficiency in Excel
Ability to work in a team environment, focus on high quality execution
Critical thinker, high energy and intellectually curious
Experience with leading without authority
Ability to coach and develop more junior associates
Required:
Minimum of 8 – 10 years of commercial credit experience (direct lending, underwriting, workout, credit review, risk management, and/or regulatory)
Ability to support conclusions through fact-based analysis and ability to influence senior leaders
Excellent credit analysis, project management and leadership skills
Strong organizational and communication skills, both written and verbal
Ability to manage multiple complex tasks while delivering high quality results
Bachelor’s Degree with a preference in finance, accounting, economics or other business concentration
Desired:
10+ years of direct commercial credit experience. Experience managing traded products and complex structured financing facilities with asset managers and other institutional clients globally
Demonstrated experience in identifying, assessing, and reporting on existing and emerging risks
Experience with direct applicability to Credit Review responsibility
Ability to coach/mentor new or less experienced associates
Skills:
Audit Planning
Financial Analysis
Internal Audit Review
Risk Management
Underwriting
Business Acumen
Credit and Risk Assessment
Critical Thinking
Issue Management
Portfolio Analysis
Analytical Thinking
Regulatory Compliance
Relationship Building
Stakeholder Management
Written Communications
Shift:1st shift (United States of America)Hours Per Week:40Bank 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 and affirmative action, 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.To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA508c.pdf) .View the LA County Fair Chance Ordinance .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 .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.
