SAG Portfolio Officer

Bank of America•Chicago, IL

4d•$98,900 - $119,300•Onsite

About The Position

This job is responsible for directly managing a high-risk/criticized or distressed commercial loan portfolio. Key responsibilities include developing, negotiating, and implementing resolution strategies focused on reducing the volatility and severity of losses. Job expectations include adherence to all bank policies and regulatory requirements, proactive identification, and mitigation of risks within the portfolio, and maintaining a high-level of integrity and ethical standards throughout all interactions. The Special Asset Group (SAG) manages the Bank’s criticized, classified, and distressed commercial credit portfolio. SAG's primary objective is to maximize recoveries, minimize loss severity, and execute effective resolution strategies that protect the Bank's interests while preserving long-term enterprise value where appropriate. The SAG Portfolio Officer is responsible for the management and resolution of an assigned Business Banking portfolio of criticized, classified, and distressed commercial credit relationships. The Portfolio Officer develops and executes resolution strategies designed to maximize recoveries, minimize losses, and protect the Bank's interests. This role serves as the primary relationship manager for assigned credits and works closely with internal and external stakeholders to evaluate strategic alternatives, negotiate solutions, and drive resolution outcomes.

Requirements

3+ years of experience in commercial banking, credit underwriting, portfolio management, workout, restructuring, special assets, or a related fields.
Strong knowledge of commercial lending, credit analysis, loan documentation, collateral analysis, and commercial credit structures.
Experience managing or analyzing criticized, classified, or distressed commercial credit relationships.
Demonstrated ability to develop and evaluate workout, restructuring, liquidation, and repayment strategies.
Strong financial statement analysis skills, including cash flow, liquidity, collateral, and repayment capacity assessment.

Nice To Haves

Experience leading negotiations involving restructurings, forbearance agreements, settlements, liquidations, bankruptcy proceedings, or other credit resolution matters.
Knowledge of bankruptcy law, creditor rights, foreclosure processes, and commercial loan enforcement remedies.
Familiarity with treasury management products, commercial card products, deposits, derivatives, and other ancillary banking products.
Strong working knowledge of credit policy, risk assessment, and regulatory requirements applicable to commercial lending.
Experience coaching and developing analysts while serving as a resource on complex credit matters.

Responsibilities

Develops, negotiates, and implements comprehensive resolution strategies
Oversees and manages adversarial collection actions such as litigation, foreclosures, bankruptcies, and receiverships
Ensures compliance with bank policies and regulatory standards
Monitors the asset quality of the portfolio through thorough analysis and assessment, making necessary adjustments based on market conditions and loan performance
Presents in the periodic portfolio review meetings providing updates on the clients within their portfolios
Establishes and maintain collaborative partnerships with internal and external stakeholders
Manage an assigned Business Banking portfolio of criticized, classified, and distressed commercial credit relationships from strategy development through final resolution.
Evaluate borrower performance, repayment capacity, collateral values, industry dynamics, and legal considerations to determine the most effective path to resolution.
Serve as the primary point of contact for borrowers, sponsors, advisors, attorneys, lending partners, and other stakeholders associated with assigned relationships.
Lead negotiations involving loan modifications, restructurings, forbearance agreements, settlements, asset sales, and other resolution alternatives.
Prepare and present strategy recommendations, credit approvals, and portfolio updates to SAG leadership and risk management partners.
Analyze and assign internal risk ratings consistent with applicable policies, procedures, and regulatory expectations.
Manage legal and enforcement actions, including litigation, foreclosure, bankruptcy, receivership, and other recovery-related proceedings, as appropriate.
Monitor portfolio performance, asset quality metrics, and recovery trends to support forecasting, reporting, and risk management objectives.
Ensure compliance with internal credit policies, regulatory requirements, and governance standards.