Credit Officer II-Community Developement Banking

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!

Job Description:
This job is responsible for managing clients and related credit products, partnering closely with relationship management, sales/trading, treasury management, operations and risk teams to support the client relationship. Key responsibilities include underwriting, monitoring, managing operational needs and/or client requests. Job expectations include credit-focused client management responsibilities, independent thought leadership, strong leadership skills, the ability to provide feedback to less experienced teammates and may also manage a team.

This job is responsible for serving as the primary credit relationship contact and maintaining ongoing relationships with credit clients. Key responsibilities include working with clients to design and execute credit solutions, leading new credit originations in collaboration with client management, credit risk, and syndications, and advising the Commercial Real Estate Banking portfolio management and asset management groups on any post closing credit actions as needed. Job expectations may include driving operational excellence and influencing leaders, peers, and client. CDB Credit Officers are responsible for the structuring of project finance transactions that include both tax credit equity and construction debt and bridge loans for the development of affordable housing.  This role is a primary contributor to the Bank’s commitment to support low to moderate income individuals and communities in a profit with purpose model.

The CO is typically an individual contributor who reports to the Senior Credit Manager. The CO holds credit approval authority. The CO maintains knowledge of other BofA products including Investment Banking and Treasury Management and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect.

Responsibilities:

• Partners with relationship management and product partners to assess clients’ credit needs and create solutions
• Leads loan structure conversations and negotiates loan documentation with clients and internal/external legal partners
• Drives credit and risk approval processes for new credit originations, renewals, increases, and modifications
• Leads ongoing monitoring efforts for a portfolio of clients in compliance with regulations, policy and procedure
• Drives the growth of funded loans and revenue while mitigating risks, maintaining asset quality and adhering to regulatory requirements
• Serves as an escalation point for complex credit transactions
• Mentors and supports associates
• Leads the deal team for new originations, modification and structuring of Bank debt and equity
• Manages the underwriting of secured and unsecured transactions to Commercial Real Estate clients, including real estate secured construction and term debt, tax credit equity investments, unsecured corporate revolvers, bridge financing, commercial agency warehouse lines, and subscription lines
• Oversees underwriting once a credit opportunity is mandated, icluding the requisite due diligence, preparation of the approval request documents, receipt of final loan approval on a timely basis, and resolution of any due diligence/underwriting challenges in the loan closing process
• Leads new credit originations and structures loans in collaboration with the relationship coverage team, products partners, Risk, Syndications, and Treasury
• Manages the end-to-end process for loan and equity originations, modifications and extensions on existing loans including structuring, due diligence, gaining approval, and closing
• Engage legal counsel / oversee document review and closing process.
• Assists and advises the Commercial Real Estate Banking portfolio monitoring and asset management groups on any post closing actions, as needed

Required Qualifications:

• 5+ years in a tax credit lending and investing related field, as well as demonstrated financial analysis experience
• Solid experience in financial analysis, structuring, underwriting and portfolio management, strong communication and analytical/technical skills, including financial accounting, modeling and loan structuring and documentation
• Familiarity with core banking products.
• Understanding of the regulations that govern Banking and CRE lending.
• Maintains knowledge of other banking products including Investment Banking, Interest Rate Hedging, and Treasury Management that have credit exposure, and leverages product expertise to deliver the best possible and optimally integrated strategic solution for the client or prospect.
• Requires expertise in the origination of tax credit equity investments as well as debt.  Knowledge of tax program requirements, financial concepts and commercial real estate required.

Desired Qualifications:

• Credit trained,financial modeling proficiency, Credit Center proficiency, understanding of compliance and tax requirements; real estate and contract negotiation experience.
• Bachelor's Degree

Skills:

• Business Acumen
• Coaching
• Decision Making
• Hiring and Onboarding
• Loan Structuring
• Collaboration
• Credit Documentation Requirements
• Oral Communications
• Risk Management
• Written Communications
• Change Management
• Executive Presence
• Organizational Effectiveness
• Underwriting

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

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 - MA - Boston - 100 Federal St - 100 Federal St Lp (MA5100), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$151,000.00 - $200,000.00 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.