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 maintaining subject-matter expertise with the portfolio and product set to provide credit policy and portfolio management guidance to business partners. Key responsibilities include portfolio reviews, studies of industry practices, and possessing knowledge of regulatory issues. Job expectations include having and maintaining lending authority for products. Position is aligned to support the Local Markets Credit Risk team, within the Enterprise Credit Risk organization, and will cover Securities Based Lending (SBL) in margin accounts and/or loan management accounts in GWIM Wealth Management and Consumer Investments (Edge).

Job role and responsibility consists of risk management activities including evaluating portfolios of marketable securities and listed equity and index options in order to ensure compliance to risk appetite. Will also ensure adoption and sustainment of new SBL policies and initiatives, support governance routines, contribute to cross-functional projects as well as provide risk coverage as a SME. Individual will be responsible for working with branch office management teams in establishing internal credit limits for margin/LMA accounts, managing limit exceptions, approving policy exceptions. Familiarity with securities markets, GWIM accounts platform and margin policy and procedures knowledge a plus. Familiarity with SBL systems (e.g., AP, Genesis, RASOR, etc.) preferred. This is a highly visible individual contributor role with opportunity to work directly with GWIM branch management teams, as well as interact with key partners across LOB, GT&O, Compliance and Technology.

Responsibilities:

• Ensures adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
• Supports the credit approval process and is accountable for overall portfolio performance and asset quality, including underwriting, structuring, and monitoring tasks
• Conducts analysis, develops credit risk reporting for specific products, and reports on key indicators for changes in credit quality to communicate to management
• 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

Required Skills:

• Bachelor’s degree in business, statistics, or a related quantitative field.
• Minimum of 5+ years’ experience in Risk, Underwriting, Operations, or a Marketing area related to Securities Based Lending
• Knowledge of financial systems and markets with an emphasis on marketable securities
• Ability to communicate and network with our business partners, operations, and underwriters in a timely manner
• Have ability to manage various projects and liaise with our technology partners and management
• Candidates must be experienced and proficient in MS Office including Excel and PowerPoint
• Familiarity with SQL and macro building/writing
• Business writing expertise with attention to procedural documentation
• Desire to learn regulatory framework with heed to Laws, Rules, and Regulations
   

Skills:

• Credit and Risk Assessment
• Financial Accounting
• Issue Management
• Portfolio Analysis
• Risk Analytics
• Attention to Detail
• Business Intelligence
• Collaboration
• Interpret Relevant Laws, Rules, and Regulations
• Regulatory Compliance
• Oral Communications
• Presentation Skills
• Prioritization
• Project Management
• Written Communications

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600)

Pay and benefits information

Pay range

$75,000.00 - $91,700.00 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.