Sr. Credit Products Officer-Dealer Financial SvsCharlotte, North Carolina;Greensboro, North Carolina; Nashville, Tennessee; Atlanta, Georgia; Jacksonville, Florida; Boston, Massachusetts; Farmington Hills, MichiganJob 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:In DFS, assigned as a market or industry level resource, the Credit Products Officer (CPO) is a highly skilled resource, providing expert level advisory guidance in the most complex, integrated debt capital solutions. Guidelines for assignment of CPOs include specific criteria and is made at the discretion of the Credit Products Manager (CPM) in consultation with the Market Executive (ME). The role also serves as Line/Credit approver in conjunction with Risk management based on credit approval grid and drives the internal credit approval process, loan documentation and closing. Involvement with monitoring activities/approvals is also part of the responsibilities. The CPO maintains knowledge of other BofAML products including Investment Banking and Treasury Management that have credit exposure, and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect. The role is balanced between analysis of clients and prospects and their industries, design and execution of credit solutions, and the active management of asset quality. Client facing, the CPO collaborates with the Client Manager (CM), Treasury Solutions Officer (TSO), and other product partners, when needed, to assess client needs, design integrated solutions and deliver the bank to clients and prospects. The CPO reports to the Credit Products Manager (CPM) and will be aligned to 1-3 Portfolio Management Officers (PMO), serving as a mentor/coach.Other responsibilities:
Sr. Credit Products Officer (SCPO) serves as a key member of the Commercial Client Team in handling the clients financial needs, ensuring that the overall client experience is favorable, and that the bank is in a position to expand the relationship
The client team is charged with helping clients achieve their overall financial goals via the delivery of our debt and deposit capabilities, as well as the full breadth of services offered by Bank of America
Working closely with the client team, the Sr. Credit Products Officer’s (SCPO's) role in the credit process is the guidance and oversight of underwriting, structuring, and documentation of credit requests on an assigned portfolio
Includes an evaluation of the financial standing of the client or prospect and the appropriateness of the existing or proposed credit structure, and suggestion of any changes to help optimize the relationship
Underwrite and structure complex credit transactions with minimal oversight
Provide ongoing coaching and support to other Credit Products team members, reporting to the Sr. Credit Products Manager, and partner closely with Client Managers and the Credit Risk Manager (CRMs)
Some travel time with face-to-face interaction with our dealer clients
Interacts with clients and prospects to understand their financial goals and objectives, current and future financial performance, and their needs and desires for their banking relationship
Involved in the negotiation and closing process for transactions in portfolio
Oversees the monitoring of their assigned portfolio to maintain credit quality, and to ensure timely recognition and management of any changes via the use of the bank’s proprietary risk rating tool, and the review of various compliance, exception and past due reports
Required Qualifications:
5 + years of solid experience in commercial credit analysis to include underwriting, structuring, documentation and portfolio management
Strong knowledge and comprehension of loan and collateral documentation
Ability to accurately analyze borrower’s financial picture and deliver a comprehensive risk analysis to manager and risk officers
Confidence and ability to develop an independent viewpoint and present a business case to support conclusions
Excellent relationship management skills, experience working in a team environment, ability to help influence constituencies with diverse views towards consensus
Coaching and mentoring skills
Strong Microsoft Office Skills
Desired Qualifications:
Undergraduate degree in Finance or Accounting
Prior experience leading a team
Prior experience mentoring less experienced associates
Completion of a formal commercial credit training program
Knowledge of the franchised automobile and RV dealership businesses
Skills:
Credit and Risk Assessment
Customer and Client Focus
Loan Structuring
Oral Communications
Written Communications
Analytical Thinking
Collaboration
Legal Structures and Legal Forms
Presentation Skills
Prioritization
Attention to Detail
Policies, Procedures, and Guidelines
Product Management
Strategic Thinking
Underwriting
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalentShift: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 (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.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.
