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
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