Job Description:
Job Title: Credit Risk Officer, Asset Manager/Funds Underwriting
Corporate Title: Vice President
Location: London or Paris
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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
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Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
London 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.
Paris Location Overview
Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.
Job Description
This Asset Manager/Funds Credit role sits within Global Markets Credit (GMC) which sits within the front line Enterprise Credit Group which is responsible for analysing and underwriting debt financing solutions and derivative strategies for Global Banking & Markets.
GMC underwrites Structured Financing Transactions, Non-recourse Lending to Special Purpose Vehicles (SPVs), Specialty Finance, Hedge Funds and Regulated Funds, Central Counterparties (CCPs), and Municipal Banking and Markets. While an independent function they work closely with product specialists, relationship managers and the second line risk function.
You will be responsible for underwriting credit across existing and prospective clients and counterparts, managing the counterparty risk on a portfolio of EMEA-based regulated and alternative fund clients. Delivering and managing credit relationship for wholesale clients in accordance with Bank of America's growth strategy, risk appetite and underwriting standards, focusing on credit, market, and reputational risk.
Responsibilities
- Managing a busy portfolio of highly revenue generative EMEA based regulated and alternative fund clients from on-boarding through to underwriting/credit approval and oversight
- Conduct detailed analysis of clients demonstrating a good understanding of investment strategies, liquidity, leverage and the products & associated risks, that the funds trade
- Propose limits based on clients risk profile including population of internal counterparty ratings
- Liaise with Legal to negotiate documentation for trading activities
- Oversight of clients regarding changes in credit quality, adherence to risk appetite/limits and policies
- Coordination with colleagues including the business, risk and Line of Business (LOB) management in order to resolve portfolio issues
- Conduct ad-hoc portfolio reviews and prepare management information as required
- Contribute to regulatory tasks and deliverables as required in respect of EMEA fund portfolio
What we are looking for
- Prior experience in a credit risk role is required, preferably covering regulated and/or alternative fund clients
- Understanding of Global Markets suite of products, market risk metrics and legal documentation
- Ability to manage significant deal flow often to tight deadlines in a dynamic and fast-paced environment
- Self-starter with excellent communication skills, problem solver with an ability to negotiate effectively
- Able to work as a part of a team, willing to support more junior members of the team as required
- Good quantitative and Excel based skills required
- Bloomberg experience advantageous
Skills
- Credit and Risk Assessment
- Financial Accounting
- Attention to Detail
- Collaboration
- Regulatory Compliance
- Oral & Written Communications
- Presentation Skills
- Prioritization
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.
France
- Competitive retirement plan in addition to State plans
- Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.
- Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers
- Life and disability insurance
- Time Savings Account ('CET') to save some of your leave days, cash them out or use them later
- Reimbursement of 50% of your commuter pass
- Nursery scheme for children under age 3
- Works council benefits
- Access to an Employee Assistance Programme for confidential support and help for everyday matters
- Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities
- Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris
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 gender/sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, membership of the Traveller community, age, sexual orientation, pregnancy or maternity, civil status, socio-economic background, responsibility for dependants, family status 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.