GWIM Credit Product Specialist

1 month ago

New York, New York, United States Bank of America Full time

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. 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:
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 businessComplete ROI analysis via the PrecisionLender toolNavigate and review internal systems using Navigator and LoanIQUse collateral evaluations to determine viability of loan opportunitiesResolve margin calls, and debt service failuresAssess existing portfolio of loans, ensuring compliance with financial covenants and reportingSkills:Attention to DetailBusiness DevelopmentLoan StructuringPortfolio ManagementRelationship BuildingActive ListeningAnalytical ThinkingClient ManagementCustomer and Client FocusProfitability AnalysisCollaborationFinancial Forecasting and ModelingPipeline ManagementSales Performance ManagementSales StrategyRequired Qualifications:3 years of experience in a related role in finance/banking fieldAble to construct Deal Screen Memo multi-page document that covers relationship metrics, transaction details, underwriting guidelinesExperience in analyzing complex financial statementsMust be able to read loan documents, make recommendations on language changesPartner 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 partnersDesired Qualifications:Bachelor s degree or equivalent in Finance, Business Administration, Financial Economics/equivalent experienceKnowledge in marketing and selling Private Wealth credit solutions; engaging, addressing, influencing lending needs of clientsExperience in negotiating Underwriting and Risk on behalf of the client to structure sound loansAbility 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 loansFamiliarity with conducting financial analysis, including ratio analysis and DSC analysisAssessing existing portfolio of loans ensuring compliance with financial covenants and reporting

Shift:1st shift (United States of America)

Hours Per Week: 40

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