Credit Officer II - Asset Based Finance

Bank of America•Chicago, IL

2d•$119,000 - $200,000•Onsite

About The Position

At Bank of America, the Credit Officer II supports the bank’s purpose of helping make financial lives better through responsible growth. The bank emphasizes an inclusive workplace, career development, collaboration, and teammate wellness. Its in-office culture supports collaboration, engagement, and career development, with role-specific flexibility based on business needs. The Credit Officer II covers a portfolio of asset-based lending clients and delivers credit solutions while managing risk. Bank of America’s Asset Based Finance group provides asset-based loans to clients in the Global Commercial and Global Corporate and Investment Banks, partnering with relationship management and product partners. Facilities typically range from $20 million to $5 billion and may be syndicated or provided by a sole lender. This is a senior, client-facing role involving complex client relationships. The officer analyzes client trends to identify opportunities and manage risk, and works to grow funded loans and credit revenue. The role also involves pitching credit opportunities, managing higher-attention credits, reviewing and negotiating legal documentation, and overseeing junior associates’ work, including financial analysis and preparation of approval documents. The officer takes a leadership role in managing bank groups and relationships with legal counsel, financial advisors, and financial sponsors. Some travel is required to meet with clients. The role is based at one of the listed Bank of America locations in Chicago, Illinois, or Cleveland, Ohio. It is a first-shift position with 40 hours per week. The annual pay range is $119,000 to $200,000, with offers determined by experience, education, and skill set. The role is eligible for an annual discretionary incentive and benefits, including paid time off.

Requirements

At least 5 years of 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.
Skills in attention to detail, client management, decision-making, underwriting, credit documentation, critical thinking, portfolio management, problem-solving, written communications, financial analysis, and negotiation.

Nice To Haves

Bachelor’s or Master’s degree.
Formal credit training.
Experience with bankruptcy and restructuring matters.

Responsibilities

Manage a portfolio of asset-based structured loans in the general industries space.
Identify credit solutions and opportunities to grow funded loans and spreads.
Monitor financial and collateral trends and recommend appropriate action.
Review requests for loan modifications.
Analyze financial performance, negotiate credit terms, draft proposals, and review and negotiate loan documents.
Oversee preparation of credit recommendations for approval and the work of junior associates.
Build client relationships and pitch credit opportunities.
Manage performing credits as well as distressed and turnaround credits, including accounts going through restructurings and bankruptcy processes.
Lead management of bank groups and relationships with legal counsel, financial advisors, and financial sponsors.
Meet with clients, including through some required travel.