Private Bank - Structured Credit Executive
Apply NowCompany: Bank of America Corporation
Location: Washington, DC 20011
Description:
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 Credit Executive (CE) is a client-facing role responsible for developing new custom credit relationships with strategic wealth clients, driving funded loan balance and revenue growth in a responsible and profitable manner, managing a portfolio of existing credit relationships, and educating Advisors on our credit solutions and risk appetite. Within their targeted geographic territory, the CE leads the credit delivery process from beginning to end by partnering with Advisors, Underwriting, Risk, Product Subject Matter Experts, Portfolio Management, and Servicing & Fulfillment. The CE brings thought leadership and credit expertise to structuring highly customized credit solutions to meet the unique needs of our ultra-high-net-worth clients.
Responsibilities:
Leads the growth of funded loans and revenue, while mitigating risks and adhering to regulatory requirements
Develops, deepens, and sustains relationships with market leadership, Advisors, and clients, while building credibility
Creates a client-centric culture by applying in-depth knowledge of clients, timely renewals, and issue resolution, and providing competitive deal structuring while serving as the key point of contact for credit clients
Educates key partners and Advisors on platform capabilities and risk appetite to increase engagement and penetration
Partners and collaborates with Underwriting, Risk, Operations, and Portfolio Management to deliver a seamless client experience
Maintains asset quality within the defined Global Wealth and Investment Management risk appetite limits
Proactive identification of strategic lending opportunities
Timely deal execution in navigating loan process
Underwriting excellence with holistic knowledge of the client relationship
Understanding of Private Bank credit product solutions and process
Robust portfolio management practices
Advancing the use of new technologies, tools and processes to foster a market-leading and operationally efficient platform to improve the client and employee experience
Effective communicator and ability to build collaborative partnerships
Problem solver
Effective coach and mentor
Skills:
Business Development
Loan Structuring
Negotiation
Prospecting
Relationship Building
Active Listening
Business Acumen
Client Management
Customer and Client Focus
Profitability Analysis
Influence
Pipeline Management
Portfolio Management
Problem Solving
Sales Strategy
Required Qualifications:
Experience reviewing financing requests and opportunities and determine best Enterprise solution to meet client needs
Experience advocating for new credit opportunities by pre-screening lending requests and structuring creative loan solutions to meet goals of the clients and the Bank
Ability to own all aspects of credit request (includes analysis, structure, communication with business partners and client, negotiate, close, and ongoing management)
Experience partnering with client teams on collection of information from clients in a timely manner - financials, entity documents, other necessary information
Ability to conduct preliminary analysis and apply sound reasoning to determine viability of opportunities (run ratios, DSC analysis, SBL evaluations, risk rating estimates, etc.)
Expertise in engaging with Product Specialist Executives (real estate, art, yacht, hedge funds) to assess and collaborate on best structure for loans
Experience negotiating terms/documents with clients and attorneys
Desired Qualifications:
Strong commercial credit training preferred
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - DC - Washington - 1800 K St NW - 1800 K Street NW (DC1842), US - MD - Baltimore - 100 International Dr - 100 International (MD9890), US - MD - Chevy Chase - 5550 Friendship Blvd - Pbg - Chevy Chase (MD4924)
Pay and benefits information
Pay range
$125,000.00 - $225,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This 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.
Benefits
This 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.
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 Credit Executive (CE) is a client-facing role responsible for developing new custom credit relationships with strategic wealth clients, driving funded loan balance and revenue growth in a responsible and profitable manner, managing a portfolio of existing credit relationships, and educating Advisors on our credit solutions and risk appetite. Within their targeted geographic territory, the CE leads the credit delivery process from beginning to end by partnering with Advisors, Underwriting, Risk, Product Subject Matter Experts, Portfolio Management, and Servicing & Fulfillment. The CE brings thought leadership and credit expertise to structuring highly customized credit solutions to meet the unique needs of our ultra-high-net-worth clients.
Responsibilities:
Leads the growth of funded loans and revenue, while mitigating risks and adhering to regulatory requirements
Develops, deepens, and sustains relationships with market leadership, Advisors, and clients, while building credibility
Creates a client-centric culture by applying in-depth knowledge of clients, timely renewals, and issue resolution, and providing competitive deal structuring while serving as the key point of contact for credit clients
Educates key partners and Advisors on platform capabilities and risk appetite to increase engagement and penetration
Partners and collaborates with Underwriting, Risk, Operations, and Portfolio Management to deliver a seamless client experience
Maintains asset quality within the defined Global Wealth and Investment Management risk appetite limits
Proactive identification of strategic lending opportunities
Timely deal execution in navigating loan process
Underwriting excellence with holistic knowledge of the client relationship
Understanding of Private Bank credit product solutions and process
Robust portfolio management practices
Advancing the use of new technologies, tools and processes to foster a market-leading and operationally efficient platform to improve the client and employee experience
Effective communicator and ability to build collaborative partnerships
Problem solver
Effective coach and mentor
Skills:
Business Development
Loan Structuring
Negotiation
Prospecting
Relationship Building
Active Listening
Business Acumen
Client Management
Customer and Client Focus
Profitability Analysis
Influence
Pipeline Management
Portfolio Management
Problem Solving
Sales Strategy
Required Qualifications:
Experience reviewing financing requests and opportunities and determine best Enterprise solution to meet client needs
Experience advocating for new credit opportunities by pre-screening lending requests and structuring creative loan solutions to meet goals of the clients and the Bank
Ability to own all aspects of credit request (includes analysis, structure, communication with business partners and client, negotiate, close, and ongoing management)
Experience partnering with client teams on collection of information from clients in a timely manner - financials, entity documents, other necessary information
Ability to conduct preliminary analysis and apply sound reasoning to determine viability of opportunities (run ratios, DSC analysis, SBL evaluations, risk rating estimates, etc.)
Expertise in engaging with Product Specialist Executives (real estate, art, yacht, hedge funds) to assess and collaborate on best structure for loans
Experience negotiating terms/documents with clients and attorneys
Desired Qualifications:
Strong commercial credit training preferred
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - DC - Washington - 1800 K St NW - 1800 K Street NW (DC1842), US - MD - Baltimore - 100 International Dr - 100 International (MD9890), US - MD - Chevy Chase - 5550 Friendship Blvd - Pbg - Chevy Chase (MD4924)
Pay and benefits information
Pay range
$125,000.00 - $225,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This 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.
Benefits
This 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.