Credit Risk Manager

Bank of America•Charlotte, NC

About The Position

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! This job is responsible for overall portfolio or product set performance and asset quality and may include credit approval authority. Key responsibilities include focusing on but not limited to credit, market, and reputational risk; as well as adherence to credit risk policies and external/internal reporting, including but not limited to Top of House (TOH) and Line of Business (LOB) specific reports or regulatory related reporting. Job expectations include having detailed knowledge of regulatory issues and providing expertise on highly complex transactions to business/support partners. This position supports the Consumer Real Estate Credit Risk team within the Enterprise Credit Risk organization and requires deep expertise in consumer real estate lending, including first lien mortgage and home equity products. The role provides independent credit risk oversight and thought leadership through research and analysis to develop a clear credit risk point of view on business proposed credit changes. The role is responsible for underwriting and reviewing highly complex, high value transactions, including policy exceptions, while exercising sound judgment, adhering to governance standards, and managing elevated risk. Responsibilities also include reviewing and approving consumer real estate credit policy changes and providing oversight of key credit risk activities, including originations, policy execution, portfolio performance monitoring, and emerging risk identification. Additionally, the role conducts ad hoc analysis related to policy expansion requests, emerging credit issues, and regulatory requirements, requiring close collaboration with business, legal, compliance, and regulatory partners.

Requirements

10+ years of progressive credit risk experience, preferably within consumer real estate lending
Demonstrated experience underwriting and approving highly complex residential mortgage and home equity transactions
Strong expertise in analyzing complex income structures, assets, and collateral
Extensive knowledge of consumer real estate credit policy, regulatory requirements, and risk governance frameworks
Proven track record of identifying, escalating, and mitigating credit risk across the loan lifecycle
Ability to independently assess policy changes and effectively challenge business proposals using data and sound risk judgment
Executive level written and verbal communication skills, with the ability to influence senior stakeholders
Strong collaboration skills with demonstrated ability to work across multiple lines of business and partners
Ability to perform in a fast paced, deadline driven environment, managing competing priorities and responding to emerging issues
Bachelor’s degree required
Credit and Risk Assessment
Critical Thinking
Risk Analytics
Risk Management
Strategic Thinking
Decision Making
Interpret Relevant Laws, Rules, and Regulations
Issue Management
Portfolio Analysis
Regulatory Compliance
Business Intelligence
Financial Accounting
Inclusive Leadership
Influence
Presentation Skills

Nice To Haves

Advanced degree

Responsibilities

Sets or oversees the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
Supports or oversees the credit approval process and therefore is accountable for overall portfolio performance and asset quality, including underwriting, structuring and monitoring tasks
Conducts analysis, inspects and/or develops credit risk reporting for specific products, and monitors and reports on key indicators for changes in credit quality to communicate to senior management
Sets or oversees adherence to policy and standards and ensures first line credit officers and managers are appropriately performing due diligence that the risk is within the bank's defined risk appetite, using knowledge of stress testing and its applicability to credit risk
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
Translates and manages plans of action to achieve a goal across varying audiences
Underwriting and reviewing highly complex, high value transactions, including policy exceptions, while exercising sound judgment, adhering to governance standards, and managing elevated risk
Reviewing and approving consumer real estate credit policy changes and providing oversight of key credit risk activities, including originations, policy execution, portfolio performance monitoring, and emerging risk identification
Conducts ad hoc analysis related to policy expansion requests, emerging credit issues, and regulatory requirements, requiring close collaboration with business, legal, compliance, and regulatory partners