Credit Risk Exec-Corp/Comm

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Position Summary:
This job is responsible for overall portfolio or product set performance and asset quality and may include credit approval authority. Key responsibilities include implementation and adherence of credit policy, approval of commitments within overall guidelines and limits, focusing on but not limited to credit, market, and reputational risk as well as 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 directly to business/support partners and clients.

This role sits within the Enterprise Credit Risk organization and serves as an independent, second line credit risk function that is responsible for setting risk appetite, evaluating analysis performed by a front-line credit underwriting team, approving transactions within policy guidelines and limits, and oversight over portfolio monitoring and reporting.  Job expectations include having a strong understanding of regulatory requirements, credit policy and procedures, and debt and tax equity structures relating to power, infrastructure (including data center and digital) and renewable energy financings.  Job expectations include providing guidance with a high degree of collaboration with a large number of business managers, originators, credit officers, portfolio management officers and engineers, while also maintaining a high level of interaction and coordination with other ECR leaders and other functional areas of the bank.  
 
Focus areas for this position will include a range of corporate and non-recourse project finance transactions underwritten and monitored by the Global Infrastructure Credit team involving a range of asset types including distributed solar and fuel cell power generation, battery energy storage, residential solar, utility scale solar and wind generation, gas-fired power generation, data center facilities and data center equipment.  It is expected that this position will bring a heightened level of independent judgment and industry expertise to the origination and management of large complex financing transactions, including providing guidance as a participant in a variety of formal transaction screening committee meetings. 
 
Global Infrastructure Credit (GIC) and the Global Infrastructure and Sustainable Finance Group (GISFG) support the bank’s commitment to sustainable, renewable and green financings that advance transactions that align with the bank’s strategy to support the transition to a low-carbon economy while maintaining strong credit discipline and risk management.  This role offers exposure to a broad range of renewable energy and infrastructure transactions, and the opportunity to contribute to the growth of a specialized credit platform within a regulated financial institution.

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
• 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
• 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 audiences
• Presents risk point of view for the portfolio inclusive of business growth and emerging risks
• Risk oversight includes oversight over the tax equity investment portfolio inclusive of policy, investment approvals, tax credit placements and sales and OTTI / impairment process 

Skills:

• Credit and Risk Assessment
• Critical Thinking
• Executive Presence
• Organizational Effectiveness
• Regulatory Compliance
• Business Intelligence
• Client Management
• Decision Making
• Inclusive Leadership
• Stakeholder Management
• Financial Accounting
• Influence
• Innovative Thinking
• Interpret Relevant Laws, Rules, and Regulations
• Portfolio Analysis

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - 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 information

Pay range

$155,000.00 - $261,500.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This 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.

Benefits

This 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.