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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
The GWIM Credit Product Specialist 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.
Responsibilities:
• Cultivate client relationships and partner with Financial Advisors to identify credit opportunities and grow lending business
• Complete ROI analysis via the PrecisionLender tool
• Navigate and review internal systems using Navigator and LoanIQ
• Use collateral evaluations to determine viability of loan opportunities
• Resolve margin calls, and debt service failures
• Assess existing portfolio of loans, ensuring compliance with financial covenants and reporting
Skills:
• Attention to Detail
• Business Development
• Loan Structuring
• Portfolio Management
• Relationship Building
• Active Listening
• Analytical Thinking
• Client Management
• Customer and Client Focus
• Profitability Analysis
• Collaboration
• Financial Forecasting and Modeling
• Pipeline Management
• Sales Performance Management
• Sales Strategy
Required Qualifications:
• 3 years of experience in a related role in finance/banking field
• Able to construct Deal Screen Memo – multi-page document that covers relationship metrics, transaction details, underwriting guidelines
• Experience in analyzing complex financial statements
• Must be able to read loan documents, make recommendations on language changes
• Partner with internal and external counsel for guidance from risk partners.
• Able to author transaction memo that accurately reflects the client’s needs and risk while partnering with credit executives in presenting to risk team
• Ability to work with advisors, their staff and external client-related partners
Desired Qualifications:
• Bachelor’s degree or equivalent in Finance, Business Administration, Financial Economics/equivalent experience
• Knowledge in marketing and selling Private Wealth credit solutions; engaging, addressing, influencing lending needs of clients
• Experience in negotiating Underwriting and Risk on behalf of the client to structure sound loans
• Ability to structure securities based loans, Commercial Real Estate loans Recreational Real Estate loans, Hedge Fund loans, Fine Art loans, Yacht loans, Unsecured loans, and other miscellaneous structured loans
• Familiarity with conducting financial analysis, including ratio analysis and DSC analysis
• Understanding how to resolve margin calls, and debt service failures
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)
Hours Per Week:
40
Top Skills
What We Do
We make financial lives better for our clients and our communities through the power of every connection. Our employees are at the heart of this purpose, and are key to driving responsible growth.
Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.
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