Credit Risk Manager

Company: Disability Solutions
Location: New York
Posted on: March 5, 2025

Job 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:This job is responsible for overall portfolio or product set performance and asset quality and may include credit approval authority. Key responsibilities include focusing on but not limited to credit, market, and reputational risk; as well as adherence to credit risk policies and external/internal reporting, including but not limited to Top of House (TOH) and Line of Business (LOB) specific reports or regulatory related reporting. Job expectations include having detailed knowledge of regulatory issues and providing expertise on highly complex transactions to business/support partners.Responsibilities:

• Sets or oversees the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
• Supports or oversees the credit approval process and therefore is accountable for overall portfolio performance and asset quality, including underwriting, structuring and monitoring tasks
• Conducts analysis, inspects and/or develops credit risk reporting for specific products, and monitors and reports on key indicators for changes in credit quality to communicate to senior management
• Sets or oversees adherence to policy and standards and ensures first line credit officers and managers are appropriately performing due diligence that the risk is within the bank's defined risk appetite, using knowledge of stress testing and its applicability to credit risk
• Monitors for adherence to industry risk governance, as well as monitoring for potential operational, reputational and market risk issues
• Identifies risks early that could impact the assigned portfolio and coordinates with business counterparts to resolve portfolio issues
• Translates and manages plans of action to achieve a goal across varying audiencesManagerial Responsibilities:This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
  • Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
  • Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
  • Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
  • Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
  • People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
  • Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
  • Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
  • Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.Skills:
    • Credit and Risk Assessment
    • Critical Thinking
    • Risk Analytics
    • Risk Management
    • Strategic Thinking
    • Decision Making
    • Interpret Relevant Laws, Rules, and Regulations
    • Issue Management
    • Portfolio Analysis
    • Regulatory Compliance
    • Business Intelligence
    • Financial Accounting
    • Inclusive Leadership
    • Influence
    • Presentation SkillsThe position is for a credit risk manager covering Bank of America's Real Estate Structured finance business. You are usually the front line credit risk person on more complex or sensitive credit transactions working directly with the relationship manager and/or credit product specialist. You shall cover a diverse range of responsibilities involving assistance with structuring, risk mitigation and internal policy compliance for new business opportunities. You will be part of the RESF Credit Risk team and provide credit risk oversight for specified markets. Key responsibilities include review, challenge, and approve loan requests for the Real Estate Structured (RESF) teams in the US and EMEA up to designated approval level, and oversight of his/her assigned loan portfolio. What will your main responsibilities involve?
      • Review, challenge, and approve loan requests for the Real Estate Structured (RESF) teams in the US and EMEA
      • Prepare materials and present at quarterly Portfolio Review Meeting, covering market data, loan performance, portfolio statistics, country risk, and asset quality statistics.
      • Participate in any other special projects, such as Policy and Procedure amendments, Operational Excellence projects, MRAs and Market analyses
      • Provide mentorship to RESF's teams with focus on transaction risk identification and mitigation strategies
      • Provide Policy interpretation and application guidance as needed .Assess a broad spectrum of risks, predominantly credit risk, but also market, counterparty, and operational risks.
      • This role requires close interaction with the Front Line Units and other risk and support groups (i.e., Market Risk, Counterparty Risk, Legal, Credit Review, Appraisal, etc.)
      • Assist in securitization process, including reviewing loans originated by other banks that become part of CMBS transactions, participating in B-piece calls, and reviewing/approving Risk Retention for CMBS and SASB transactions
      • In this role, the individual will frequently interact with senior leaders across the Global Risk organization and the Front Line Units Required and Desired Qualifications
        • Bachelor's Degree in Real Estate, Finance, Accounting, or related discipline or an equivalent combination of education and experience
        • At least 10 years of related experience in commercial real estate industry with a focus in CMBS preferable
        • Financial modeling skills, including property cash flow, valuation and performance analysis
        • Excellent credit analytical skills with experience in credit risk management
        • Knowledge of credit risk management processes, credit risk policy, risk appetite, models, loss forecasting
        • Ability to work in a fast-paced environment with continual deal flow
        • Proven ability to independently own multiple concurrent activities, drive completion, and produce executive level reporting
        • Execution oriented with demonstrated project management and problem solving skills
        • Proven partnering skills with ability to navigate across teams, eliminate roadblocks, drive consensus to achieve resolution and ensure successful execution
        • Able to build and maintain strategic business relationships
        • Excellent written and oral communication skills
        • Highly motivated individual who fully understands the demands of a credit risk professional
        • Proficiency with Excel, Word, PowerPoint, Adobe AcrobatShift:1st shift (United States of America)Hours Per Week: 40Pay Transparency detailsUS - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$99,200.00 - $172,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.

Keywords: Disability Solutions, New York , Credit Risk Manager, Executive , New York, New York