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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
The Special Assets Group (SAG) manages the Bank’s criticized, classified, and distressed commercial credit portfolio. SAG’s primary objective is to maximize recoveries, minimize loss severity, and execute disciplined, risk-based resolution strategies that protect the Bank’s interests while preserving long-term enterprise value where appropriate.
The (SAG) Corp/Comm Senior Portfolio Officer is responsible for managing and resolving the Bank’s most complex criticized, classified, and distressed commercial credit relationships. The Sr. Portfolio Officer develops and executes resolution strategies, leads negotiations with borrowers and stakeholders, and provides subject matter expertise on complex credit situations. This role partners closely with senior leadership, Credit Risk, Legal, and line-of-business partners to drive resolution outcomes that maximize recoveries, minimize losses, and protect the Bank’s interests.
- Manage a portfolio of highly complex criticized, classified, and distressed commercial credit relationships through all stages of the resolution process.
- Develop and execute credit resolution strategies designed to maximize recoveries, minimize loss severity, and protect the Bank’s interests.
- Assess borrower performance, collateral support, guarantor strength, industry conditions, and legal considerations to determine the optimal path to resolution.
- Lead negotiations involving restructurings, repayment plans, settlements, discounted payoffs, collateral dispositions, note sales, and other recovery-focused solutions.
- Prepare and present strategy recommendations, credit approvals, and portfolio updates to senior leadership and risk management partners.
- Serve as the primary point of contact for borrowers, sponsors, attorneys, consultants, participating lenders, and other stakeholders associated with assigned relationships.
- Manage bankruptcy, litigation, foreclosure, receivership, and other legal recovery actions to maximize recoveries and minimize losses.
- Monitor portfolio performance, recovery trends, and risk migration to identify emerging issues and drive timely action.
- Support portfolio forecasting, reserve discussions, criticized asset reporting, and other portfolio management activities.
- Coach and mentor junior associates on the team to help develop credit and corporate workout skills.
- Serve as a resource on complex credit situations and contribute to initiatives that strengthen SAG processes, risk management practices, and portfolio performance.
Required Qualifications:
- Minimum of 7+ years of experience in middle market or large corporate loans, credit restructuring, or related risk management experience.
- Extensive knowledge of commercial lending, credit analysis, commercial loan documentation, collateral analysis, and commercial credit structures.
- Proven negotiation skills and experience leading borrower, sponsor, legal, and lender discussions.
- Strong financial analysis skills, including cash flow analysis, collateral evaluation, repayment capacity assessment, and enterprise valuation concepts.
- Ability to exercise sound credit judgment and make decisions in complex, time-sensitive situations.
- Proven ability to work independently while influencing outcomes across multiple internal and external stakeholders.
- Strong communication skills; ability to communicate vertically, horizontally, and externally
- Industry knowledge across multiple sectors
Desired Qualifications:
- Knowledge of Business Law, a legal aptitude, strong knowledge of contracts, and knowledge of bankruptcy law
- Ability to work independently on complex transactions while exercising sound credit judgment
- Knowledge of ancillary banking products such as treasury services, derivatives, commercial cards, and deposits
- Strong knowledge of Commercial Loan Documentation
- Knowledge of Commercial Credit Structure
- Ability for problem solving / critical / creative thinking / mental flexibility
- Strong Negotiation Skills
Skills:
- Adaptability
- Collection Management
- Critical Thinking
- Problem Solving
- Risk Management
- Credit and Risk Assessment
- Decision Making
- Financial Analysis
- Legal Structures and Legal Forms
- Underwriting
- Client Management
- Loan Structuring
- Negotiation
- Oral Communications
- Written Communications
Shift:
1st shift (United States of America)Hours Per Week:
40Pay Transparency details
US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - RI - Providence - 1 Financial Plz - 1 Financial Plaza (RI1537)Pay and benefits informationPay range$111,000.00 - $209,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.BenefitsThis 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.Skills Required
- Minimum 7+ years of experience in middle market or large corporate loans, credit restructuring, or related risk management
- Extensive knowledge of commercial lending, credit analysis, commercial loan documentation, collateral analysis, and commercial credit structures
- Proven negotiation skills and experience leading borrower, sponsor, legal, and lender discussions
- Strong financial analysis skills, including cash flow analysis, collateral evaluation, repayment capacity assessment, and enterprise valuation concepts
- Ability to exercise sound credit judgment and make decisions in complex, time-sensitive situations
- Ability to work independently while influencing outcomes across multiple internal and external stakeholders
- Strong written and verbal communication skills
- Industry knowledge across multiple sectors
- Knowledge of business law, contracts, and bankruptcy law
- Knowledge of ancillary banking products, including treasury services, derivatives, commercial cards, and deposits
- Strong knowledge of commercial loan documentation
- Strong knowledge of commercial credit structures
- Problem-solving, critical thinking, creative thinking, and mental flexibility
- Strong negotiation skills
Bank of America Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Bank of America and has not been reviewed or approved by Bank of America.
-
Healthcare Strength — Health coverage is described as comprehensive, with medical, dental, vision, virtual care via Teladoc, wellness programs, and specialized support for cancer and menopause. Wellness credits and an always‑on EAP with in‑person sessions add to the depth of care.
-
Parental & Family Support — New parents can access up to 26 weeks of leave, including 16 weeks fully paid for eligible teammates, alongside back‑up child and adult care. Family‑building resources and reimbursements (e.g., fertility, adoption, surrogacy) and a dedicated Life Event Services team extend support across life stages.
-
Equity Value & Accessibility — Broad‑based equity through the Sharing Success program, including $1B in stock to nearly all non‑executive employees in January 2026, is intended to foster an ownership mindset. Stock awards (including RSUs) are a recurring component that aligns employees’ interests with shareholders.
Bank of America Insights
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.
Gallery
