Job Description:

Company Overview:
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 is core to how we drive Responsible Growth.  This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
 
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.  Join us! 

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre. 

Job Description:
The Senior Asset Based Credit Officer covers a portfolio of asset-based lending clients, with responsibility for delivering credit solutions and managing risk.  Bank of America’s Asset Based Finance (“ABF”) group provides asset-based loans to clients in the Global Commercial and Global Corporate and Investment Banks, partnering closely with relationship management and product partners.  Typical focus is syndicated and sole lender facilities ranging in size from $20 million to up to $5 billion.

The role will be client-facing, with primary responsibilities including analyzing client trends to identify opportunities and manage risk and growing funded loans and credit revenue.  Additional responsibilities would include pitching credit opportunities, reviewing and negotiating legal documentation, and overseeing the work of junior associates, including analysis of financial performance and preparation of approval documents. 

The target candidate would be expected to handle more complex client relationships, as well as take a leadership role in managing bank groups and relationships with legal counsel, financial advisors, and financial sponsors.  Some travel would be required to meet with clients.

Job Responsibilities:

• Manages a portfolio of asset-based structured loans in the general industries space
• Proactively identifies credit solutions and opportunities to grow funded loans and spreads
• Actively monitors financial and collateral trends and recommend appropriate action
• Review requests for loan modifications
• Analyzes financial performance, negotiates credit terms, drafts proposals, reviews and negotiates loan documents, and oversees preparation of recommendations for approval.
• Participates in building client relationships
• Handles both performing credits as well as distressed/turnaround credits including managing accounts through restructurings and bankruptcy processes.

Required Qualifications:

• Significant experience in asset-based lending, commercial banking, or private credit
• Sound understanding of credit, transaction structuring, and financial and collateral analysis
• Detailed understanding of legal documentation
• Ability to draft concise, accurate and clear credit approvals with minimal oversight.

Desired Qualifications:

• Bachelor's or Master’s degree preferred or equivalent experience
• Formal Credit Training
• Experience with bankruptcy and restructuring matters

Skills:

• Attention to Detail
• Client Management
• Decision Making
• Underwriting
• Credit Documentation Requirements
• Critical Thinking
• Portfolio Management
• Problem Solving
• Written Communications
• Financial Analysis
• Negotiation

Benefits of working at Bank of America:
UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
• Access to an Employee Assistance Program for confidential support and help for everyday matters
• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:
Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.