Credit Analyst III – GWIM Credit Loan Monitoring
Bank of America
full-time
Posted on:
Location Type: Hybrid
Location: Saint Louis • Montana • North Carolina • United States
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About the role
- Proactively manages the credit risk of a portfolio by serving as a first line of defense in recognizing deteriorating financial trends via scheduled covenant testing.
- Responsible for monitoring GWIM client compliance with reporting requirements and financial covenants.
- Responsible for the setup of financial reporting and covenant requirements following a loan closing and for the subsequent testing of financial covenants within a given market.
- Help support the timely resolution of failed covenants by advising the credit team on covenant trends or specific details on the cause of the covenant failure.
- Drive effective and efficient monitoring of client portfolios, including management of internal reporting and timely, accurate covenant testing.
- Create and maintain value-driven relationships with members of the client team and internal business partners in order to achieve objectives and resolve issues in timely manner.
- Ensure accurate monitoring of loan document requirements and covenants through Credit Taker Setups and Verifies in GMS.
- Complete all required financial covenant testing within 30 days of document receipt.
- Provide early warning of deterioration in client financial profile to client team.
- Participate in resolution of covenant failures.
- Pull financial reporting and covenant requirements out of loan documentation and setup in GMS
- Actively manage a GMS queue of client relationships requiring financial covenant compliance testing within established timeframes.
- Improve the operating environment through escalation of process gaps and highlighting opportunities for improvement at an Enterprise or GWIM Credit level.
- Manage multiple tasks simultaneously and adjust workload to meet deadlines.
Requirements
- 3 + yrs of credit analysis or a closely related credit risk role, including financial covenant testing and ability to interpret and apply Commercial credit agreement terminology and concepts.
- 2+ years of credit analysis experience with Commercial credit policies and procedures
- Proficient in interpreting various Commercial loan documents including credit agreement and amendments, setting up financial reporting and covenant requirements in systems such as GMS.
- Experienced in managing compliance workflows and covenant breaches in a timely fashion and mitigating covenant risk.
- Strong working knowledge of commercial loan structures and financial statement analysis, including personal financial statements, brokerage statements, rent rolls, and NOI statements; ability to identify and escalate early signs of credit deterioration, within the Commercial credit structure.
- Working proficiency with Commercial loans, collateral, client data and workflow systems along with SharePoint, and Adobe Acrobat.
Benefits
- Health insurance
- 401(k) matching
- Paid time off
- Flexible working arrangements
- Professional development opportunities
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
credit analysisfinancial covenant testingfinancial statement analysiscommercial loan structurescovenant compliancerisk mitigationinterpretation of credit agreementscovenant monitoringreporting requirements setupclient portfolio management
Soft Skills
relationship managementproblem-solvingtime managementcommunicationorganizational skillsproactive managementattention to detailmultitaskingadvisory skillscollaboration