Bank of America
Sr Credit Underwriter / Underwriter II-Leasing / Municipal Credit and Public Fin
Bank of America, Chicago, Illinois, United States, 60290
Description
This job is responsible for analyzing and interpreting a client's credit worthiness, evaluating credit risks, and writing credit approval memos for annual renewals and new lending opportunities. Key responsibilities include analyzing qualitative and quantitative data such as client's financials, projections, industry data, covenant compliance, and collateral appraisals to ensure compliance with the bank's risk appetite. Job expectations include completing regular monitoring and underwriting tasks and supporting key internal stakeholders to achieve successful execution of new transactions. This position is responsible for the delivery of integrated credit solutions to US State and Local governmental entities, including public higher education. Partner closely with client-facing teammates to consult on sales opportunities and provide the product expertise and consultation necessary to deliver the best possible solution to the client. Key responsibilities include underwriting and negotiating new transactions, partnering with client-facing teammates to consult on sales opportunities, and providing the product expertise to deliver effective client solutions. Partner closely with client-facing teammates to provide the product expertise and consultation necessary to deliver the best possible solution to the client. Proactively partners with client teams to plan key credit relationship strategy focusing on balance of risk and reward. Directly accountable for managing credit quality and the approval process through interaction with Risk Management Officers.
Responsibilities
Analyzes client's financial performance by comparing it to past performance, projections, and industry standards
Reviews financial statements, assesses the client's compliance with financial covenants, and renews risk ratings, while recommending changes as warranted
Assists in the underwriting, credit risk analysis, negotiation, and closing of new transactions or existing transactions, while adhering to all relevant policies and procedures
Evaluates transaction and relationship risk-adjusted profitability to facilitate the allocation of capital
Builds projection models for the client (as needed) based on historical performance, industry forecasts, and other due diligence findings
Trains, coaches, and mentors Credit Analysts
Pre-screen new transactions for existing and new clients to determine credit worthiness and appropriate credit product solutions.
Analyzing US State and Local governmental entities’ financial statements.
Responsible for underwriting credit approval memoranda for mandated transactions, incorporating thorough credit analysis and due diligence.
Participates in ongoing documentation negotiations as required.
Required Qualifications
5+ years of experience in commercial banking, finance or credit ratings industries with significant municipal / public finance credit experience.
Experience in the analysis and structuring of complex transactions
Strong credit and risk analysis skills
Strong presentation, structuring and financial statement analysis skills
Proven ability to analyze, interpret and negotiate third party documentation
Proven ability to identify trends and emerging risks in underwriting and client selection
Proficient Microsoft Office skills
Desired Qualifications
Municipal / Public Finance Lending or Leasing Experience
Undergraduate degree in finance, accounting or related field preferred.
Skills
Analytical Thinking
Financial Analysis
Financial Forecasting and Modeling
Profitability Analysis
Research Analysis
Attention to Detail
Business Acumen
Credit and Risk Assessment
Underwriting
Written Communications
Collaboration
Critical Thinking
Portfolio Analysis
Prioritization
Technical Documentation
Shift 1st shift (United States of America)
Hours Per Week 40
Pay Transparency details US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)
US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100)
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 $80,000.00 - $162,500.00 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.
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Responsibilities
Analyzes client's financial performance by comparing it to past performance, projections, and industry standards
Reviews financial statements, assesses the client's compliance with financial covenants, and renews risk ratings, while recommending changes as warranted
Assists in the underwriting, credit risk analysis, negotiation, and closing of new transactions or existing transactions, while adhering to all relevant policies and procedures
Evaluates transaction and relationship risk-adjusted profitability to facilitate the allocation of capital
Builds projection models for the client (as needed) based on historical performance, industry forecasts, and other due diligence findings
Trains, coaches, and mentors Credit Analysts
Pre-screen new transactions for existing and new clients to determine credit worthiness and appropriate credit product solutions.
Analyzing US State and Local governmental entities’ financial statements.
Responsible for underwriting credit approval memoranda for mandated transactions, incorporating thorough credit analysis and due diligence.
Participates in ongoing documentation negotiations as required.
Required Qualifications
5+ years of experience in commercial banking, finance or credit ratings industries with significant municipal / public finance credit experience.
Experience in the analysis and structuring of complex transactions
Strong credit and risk analysis skills
Strong presentation, structuring and financial statement analysis skills
Proven ability to analyze, interpret and negotiate third party documentation
Proven ability to identify trends and emerging risks in underwriting and client selection
Proficient Microsoft Office skills
Desired Qualifications
Municipal / Public Finance Lending or Leasing Experience
Undergraduate degree in finance, accounting or related field preferred.
Skills
Analytical Thinking
Financial Analysis
Financial Forecasting and Modeling
Profitability Analysis
Research Analysis
Attention to Detail
Business Acumen
Credit and Risk Assessment
Underwriting
Written Communications
Collaboration
Critical Thinking
Portfolio Analysis
Prioritization
Technical Documentation
Shift 1st shift (United States of America)
Hours Per Week 40
Pay Transparency details US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)
US - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100)
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 $80,000.00 - $162,500.00 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.
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