Merchant Services Global Banking Approval Officer III

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 is core to how we drive Responsible Growth.  This includes our commitment to being inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. 

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.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.  Join us!

Job Description:
This job is responsible for underwriting and structuring complex credit transactions with minimal oversight. Key responsibilities include approving credit transactions, while considering credit approval authority limits and utilizing independent judgment and discretion to approve loans. Job expectations include exercising loan authority while ensuring adherence to credit policies, guidelines, and applicable regulatory requirements and serving as the point of contact for driving commercial and small business credit solutions for the client.

The AO is responsible for underwriting and structuring of straightforward and complex credit transactions with minimal oversight from the Merchant Global Banking Leader considering their credit approval authority limits and utilizing independent judgment and discretion to approve Merchant exposure.  They deliver financial, industry, economic and other analysis used to recommend and approve deals. The AOs exercise their own single signature loan authority while also ensuring adherence to credit policies, guidelines, and applicable regulatory requirements.

The AO will be called on to take on customer facing responsibilities in obtaining background and financial information, articulating the banks position and negotiating more complex relationships. The AOs provide ongoing coaching and support to their sales partners and other Credit team members.

This role is accountable for transaction risk including, but not limited to, reputation, operation, and credit risks, as well as ongoing portfolio management.  

AO maintains knowledge of other BofA products including debt capital solutions for commercial banking clients and Investment Banking and Treasury Management which have credit exposure, and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect. 

This role reports to the Merchant Services Global Banking Credit Manager or Executive and will be aligned to a Merchant Underwriting Team supporting Global Banking Merchant clients.  This role will specifically support activity for all Merchant Services clients with annual revenue of $5MM+.

Responsibilities:

• Performs underwriting and the structuring of more complex credit transactions 
• Researches and delivers financial, industry, economic, and other analysis to recommend and approve loans for the client
• Negotiates relationships and approves loans, while ensuring adherence to credit policies, guidelines, and applicable regulatory requirements
• Provides ongoing coaching and support to Sales partners and other Credit Products team members to help build and develop their credit acumen
• Negotiates with the client team on credit terms, performing full underwriting analysis, and preparing deal justification
• Perform financial, economic, industry, and other analysis of clients and prospects
• Design and execution of credit solutions, and the active management of asset quality
• Collaborates with the Relationship Manager (RM), Global Merchant Specialist (GMS), Treasury Solutions Officer (TSO), Wholesale Credit, SAG, and other product partners, when needed, to assess client needs, design integrated solutions, and deliver the bank to clients and prospects
• Provides credit underwriting and deal structure support, analysis, and decision recommendations for complex path credit transactions
• Serve as Credit approver in conjunction with Risk management based on credit approval grid and drives the internal credit approval process
• Structures and negotiates client merchant services contracts
• Take on customer facing responsibilities in obtaining background and financial information, articulating the bank’s