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!

This job is responsible for managing and guiding the direction of market risk management functions within a product area or several product areas. Key responsibilities include ensuring global consistency of policies, procedures, analysis, monitoring and reporting of market risk for a product area. Job expectations include overseeing communication in a timely manner and escalating any significant existing and emerging credit, compliance, or operational risk to the Chief Risk Officer and appropriate line of business executives.

Responsibilities:

• Provides leadership direction, assesses, develops, motivates, and retains the team in a successful manner within the credit risk management function, directing staff in establishing credit risk management procedures and standards
• Oversees the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
• Provides guidance on the credit approval process and accountable for overall portfolio performance and asset quality, including underwriting, structuring, and monitoring tasks
• Provides insight on analysis, inspects and/or develops credit risk reporting for specific products, monitors and reports on key indicators for changes in credit quality to communicate to senior management
• Ensures adherence to policy and standards and ensures first line credit officers and managers are performing in an appropriate manner with due diligence that the risk is within the bank's defined risk appetite, uses subject matter expertise of stress testing and its applicability to credit risk
• Monitors for adherence to industry risk governance, as well as monitoring for potential operational, reputational, and market risk issues
• Identifies risks early that could impact the assigned portfolio and coordinates with business counterparts to resolve portfolio issues

This individual will be part of the High Net Worth Credit Risk Management team and provide Credit Risk oversight for high volume east coast markets supporting the Private Bank and Merrill. Key responsibilities will include Loan Approvals up to designated approval levels, coordination of credit risk initiatives and oversight of Credit Loan Portfolios. In this role, the individual will frequently interact with senior leaders across the Global Risk organization, Enterprise Credit, and the Line of Business.

The position requires extensive knowledge and experience with the portfolio and product set to provide credit policy and portfolio management guidance to business partners. Responsible for one or more production office/portfolios. Enforce Credit Risk Policy. Portfolio reviews, studies of industry practices, extensive knowledge of regulatory issues and ability to guide and lead associates to appropriate decisions are mandatory components of the position. Will have credit approval authority, approving and providing expertise on highly complex or high value transactions. Staff at this level works directly with the business managers, product and marketing managers, Legal, regulatory and executive Risk Management. Provides guidance to junior associates

Required Skills:

• 15+ years’ experience in credit risk management
• Proven ability to independently own multiple concurrent activities, drive completion and produce executive level reporting
• Strong credit analytical skills in the High Net Worth and/or Commercial business with attention to detail
• Execution oriented with demonstrated project management and problem solving skills
• Strong partnering skills with ability to navigate across teams, eliminate roadblocks, drive consensus to achieve resolution and ensure successful execution
• Able to develop and maintain strategic business relationships
• Strong written and oral communication skills
• Strong Negotiating skills

Skills:

• Credit and Risk Assessment
• Critical Thinking
• Executive Presence
• Organizational Effectiveness
• Regulatory Compliance
• Business Intelligence
• Client Management
• Decision Making
• Inclusive Leadership
• Stakeholder Management
• Financial Accounting
• Influence
• Innovative Thinking
• Interpret Relevant Laws, Rules, and Regulations
• Portfolio Analysis

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$162,500.00 - $249,200.00 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.