Credit Product Specialist
Tampa, Florida
Job Description:
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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 business
Complete ROI analysis via the PrecisionLender tool
Navigate and review internal systems using Navigator and LoanIQ
Use collateral evaluations to determine viability of loan opportunities
Resolve margin calls, and debt service failures
Assess existing portfolio of loans, ensuring compliance with financial covenants and reporting
Skills:
Attention to Detail
Business Development
Loan Structuring
Portfolio Management
Relationship Building
Active Listening
Analytical Thinking
Client Management
Customer and Client Focus
Profitability Analysis
Collaboration
Financial Forecasting and Modeling
Pipeline Management
Sales Performance Management
Sales Strategy
Required Qualifications:
3 years of experience in a related role in finance/banking field
Able to construct Deal Screen Memo - multi-page document that covers relationship metrics, transaction details, underwriting guidelines
Experience in analyzing complex financial statements
Must be able to read loan documents, make recommendations on language changes
Partner 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 partners
Desired Qualifications:
Bachelor's degree or equivalent in Finance, Business Administration, Financial Economics/equivalent experience
Knowledge in marketing and selling Private Wealth credit solutions; engaging, addressing, influencing lending needs of clients
Experience in negotiating Underwriting and Risk on behalf of the client to structure sound loans
Ability 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 loans
Familiarity with conducting financial analysis, including ratio analysis and DSC analysis
Understanding how to resolve margin calls, and debt service failures
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)Hours Per Week:
40Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
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