Bank of America

Credit Officer, Global Wealth & Investment Management

Bank of America

full-time

Posted on:

Location Type: Office

Location: Boston • Massachusetts • New York • United States

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Salary

💰 $99,000 - $150,800 per year

About the role

  • The GWIM Credit Product Specialist/Credit Officer acts as an extension of the Credit Executives.
  • The Specialist is responsible for actively developing and supporting strategies to identify and deliver credit opportunities (e.g., LMA, ISBL, PCL, Custom Lending & Margin) to Financial Advisors existing wealth management clients and prospects.
  • These responsibilities are achieved by ensuring wealth management clients are knowledgeable of the Banks full suite of GWIM credit solutions and by supporting the flawless delivery of these solutions through a high-touch advisor/client experience.
  • The primary mission of the Credit Product Specialist is to establish new credit relationships with the financial advisors wealth management clients/ prospects in addition to supporting/ expanding existing GWIM credit relationships with the intent of generating balance and revenue growth with appropriate risk adjusted returns.
  • The Specialist will work with Financial Advisors, Wealth Management Clients, GWIM Custom Lending Credit Executives, GWIM Credit leadership, Risk Management and other specialist organizations to meet these objectives.

Requirements

  • 3 years of progressively responsible experience in the job offered or a related finance / banking occupation
  • Bachelor’s degree or equivalent in Finance, Business Administration, Financial Economics, or related
  • Prefer 3 years of experience in each of the following:
  • Marketing and selling Private Wealth credit solutions with a goal to engage and influence audience behavior to address the lending needs of clients
  • Cultivating relationships with clients and Financial Advisors to identify credit opportunities and grow lending business
  • Negotiating with Underwriting and Risk on behalf of the client to structure sound loans including securities based loans, Commercial real estate loans, Recreational real estate loans, Hedge Fund loans, Fine Art loans, Yacht loans, Unsecured loans, and other miscellaneous loans
  • Conducting financial analysis including ratio analysis, DSC analysis, and collateral evaluations to determine viability of loan opportunities
  • Assessing existing portfolio of loans ensuring compliance with financial covenants and reporting, resolving margin calls, and debt service failures.
Benefits
  • This role is currently benefits eligible.
  • We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard Skills & Tools
financial analysisratio analysisDSC analysiscollateral evaluationsnegotiatingstructuring loanssecurities based loanscommercial real estate loansrecreational real estate loansprivate wealth credit solutions
Soft Skills
relationship cultivationclient engagementinfluencing behaviorcommunicationcollaborationstrategic developmenthigh-touch client experiencerisk assessmentproblem-solvingnegotiation
Certifications
Bachelor’s degree in FinanceBachelor’s degree in Business AdministrationBachelor’s degree in Financial Economics