Credit Review Senior Portfolio Specialist

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:

Through examinations and monitoring, Credit Review provides an independent assessment of the quality of credit decisioning, portfolio management, risk recognition practices and the effectiveness of credit processes across the bank’s credit platform, identifies existing and emerging risks, and reports its findings to various stakeholders, including executive management, the Board of Directors or committee thereof, external auditors and regulatory agencies.

This job is responsible for working with Portfolio Manager(s) to establish and execute a risk-based coverage plan to monitor specific portfolio(s) within the large corporate credit portfolios within Enterprise Credit. Key responsibilities include leading examinations as an Examiner-in-Charge or Assistant Examiner-in-Charge, issues management, and performing and reviewing transactional testing of credit process execution controls of new and existing clients to evaluate appropriateness of client selection, adherence to underwriting expectations, quality of ongoing monitoring and risk rating accuracy to proactively identify emerging risks and their impact on portfolio credit quality. Job expectations includes managing field work capacity for examinations to ensure accurate and timely execution. Coaches, mentors, and reviews the work product of new or junior team members. Establishes working relationships with relevant Risk and regulatory partners to facilitate ongoing dialogue of key issues and emerging risks. Additionally, assist the Portfolio Manager(s) in preparing quarterly Business Assessment Reports and Coverage Plans; maintains awareness of current economic trends and its impact on credit portfolios.

We are looking for a Portfolio Specialist to join our dynamic, high-energy Credit Review team supporting review of Global Corporate & Investment Banking and Leveraged Lending businesses.

Responsibilities:

• Either individually or working with Portfolio Manager(s), establish and execute a risk-based coverage plan for specific portfolio(s). Coverage Plan to include, at a minimum, examinations, transaction reviews, risk assessments and issue management

• Serve as subject matter expert for and/or participate in exam activities by serving as an Examiner-in-Charge, Assistant Examiner-in-Charge or Examiner

• Perform transactional testing of credit process execution of new and existing clients, and provide direct and timely feedback on transactional reviews completed by others

• Effectively assimilate information from various sources to identify emerging risks

• Provide input into staffing and resource allocations

• Build and implement tactical on-boarding plans for new examiners

• Provide periodic updates to business heads and executive management, including communication of examination and monitoring results, new issues and emerging risks

• Issue management, including approval of issue severity ratings, action plans, ongoing issue status tracking and oversight of issue validation

• Track and follow observations from exams/monitoring that don’t yet rise to the level of issues

• Actively engage with Corporate Audit to ensure ongoing awareness of review activity, coordination, and ongoing risk assessment

• Actively participate in regulatory meetings, liaise with regulators to provide periodic updates on monitoring/exam results, and respond to inquiries from regulators and other external reviewers

• Provide input to top of house reporting for Board and senior management

• Driv