Credit Services Consultant

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 a highly-complex client portfolio. Key responsibilities include collateral monitoring and cash movement. Job expectations include complex collateral and transactional posting with client, regulatory, and reputation risk and providing resolution or escalates servicing questions, leveraging resources across functional areas to ensure an integrated approach to loan servicing. Additional responsibilities include participating in key assignments, offers subject matter expertise and provides leadership to less-experienced employees.

Responsibilities:

• Posts collateral information to system of record

• Balances collateral between system of record and borrowing base

• Monitors daily cash movement to and from client loan accounts

• Sets up fixed-rate client loan requests

• Handles a highly complex portfolio of clients including direct, agented and bought participation with both domestic and complex multi-currency components

• Provides coaching and direction to less-experienced employees

LOB Description:

Manages a credit servicing portfolio in a consultative manner focusing on the resolution of problems and the execution of complex loan structuring arrangements. Clients include Fortune 500 corporations and the institutional investment community, which require a high degree of skill, sensitivity and general business acumen in managing the relationship. Exercises discretion and professional judgment in determining appropriate loan structuring having significant client, regulatory, and reputation implications and risk. This position works in close association with members of the deal team to create value added loan servicing and to ensure client satisfaction. Participates in the resolution of escalated servicing issues and operational problems, leveraging resources across other Credit Services and GCIB functional areas (Portfolio Management, Agency Management, Monitoring & Compliance, and others) to ensure an integrated approach to loan servicing. Additionally, this position will participate in key committee assignments, offer subject mater expertise and provide leadership/guidance to junior associates

Additional Responsibilities:

• Process, analyze and evaluate daily client activity, monitor the receipt of client reports, review the content for irregularities and/or discrepancies and follow up with the client and Loan Officer

• Reconcile client Accounts Receivable agings, perform ineligible calculations for Accounts Receivable and Inventory collateral accurately, timely and in compliance with Loan Servicing Standards

• Process loan and collateral transactions

• Monitor Libor loans

• Reconcile Letter of Credit Information with detail

• Reconcile interest and fees with maturity and due dates

• Prepare/verify Participation principal, interest and fee settlements

• Review loan documentation

• Perform assigned functions/tasks within the team

• Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions

• Excels in working among diverse viewpoints to determine the best path forward.

• Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner

• Commitment to challenging the status quo and promoting positive change

• Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base

• Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

Required Qualifications

• 4 to 5 years of Asset Based Lending/Commercial Credit/Commercial Lending experience

• Customer Focus

•  Analytical, Conceptual Thinking

•  Information Seeking (goes beyond questions that are routine or required in the job)

• Ability to identify and escalate risk

• Accountable, Takes Ownership

• Highly Accurate

• Quick learner with aptitude and ability to adjust to a dynamic technological environment

• Excellent Communicator both oral and written

• Excellent Organization

• Excellent Time Management

• Advanced knowledge of Microsoft Office

Desired Qualifications

• Commercial credit fulfillment, servicing, operations or lending experience

• Four (4) year College Degree (college level accounting courses) or 4 to 5 years related experience, or equivalent

Skills:

• Analytical Thinking

• Attention to Detail

• Data Collection and Entry

• Decision Making

• Strategic Thinking

• Adaptability

• Customer and Client Focus

• Issue Management

• Oral Communications

• Recording/Organizing Information

• Collaboration

• Legal Structures and Legal Forms

• Prioritization

• Written Communications

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

Shift:

1st shift (United States of America)

Hours Per Week: 

40