Job Description:
Job Title: Global Markets Credit - Private Equity Trading
Corporate Title: Vice President
Location: London
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!
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.
The Team:
This role sits within the Global Markets Credit ("GMC") group within the Enterprise Credit organization. Global Markets Credit ("GMC") is responsible for ensuring robust and consistent credit underwriting for Global Markets trading and lending relationships. Products covered include traded products and structured loans across a range of client segments.
Role Description:
You will manage the credit underwriting and ongoing monitoring for a portfolio of trading and lending exposures facing Private Equity Funds managed by Sponsors based in EMEA and APAC. Products covered include FX, Interest Rate hedging and capital commitments facilities. This role sits within a global team and will coordinate closely across regions to ensure consistent underwriting and monitoring of the portfolio. You will work closely with the Global Markets Sales team, second line Risk partners and other areas of Enterprise Credit to leverage industry specific expertise and drive responsible growth.
Responsibilities:
- Review new business opportunities presented by the front line, provide early feedback on structure/terms and client selection in the screening process
- Partner with the front line unit in due diligence, structure terms and recommend transactions for second line Risk review. Respond to Risk review and challenge.
- Prepare underwriting materials and submission of credit approval memo's, exercise credit authority on behalf of the line of business and secure Risk approvals. Engage partners including client coverage areas, legal and market risk as required.
- Ongoing monitoring of transactions including industry, client and asset performance.
- Engage in various other aspects of credit underwriting including development of policy and procedures, risk rating scorecards, asset quality monitoring and audit enquiry.
- Support firm wide Enterprise Credit and liaise with applicable stakeholders across the firm on emerging topics, assist with periodic reporting requirements, regulatory inquiries, and other ad hoc projects.
What we are looking for:
- Relevant prior experience may include roles in credit risk management, credit underwriting, structuring, loan origination or public rating agencies.
- Familiarity with the Private Equity and other non-regulated fund sectors across EMEA and APAC.
- Knowledge of traded products including FX and interest rates in addition to experience of reviewing lending or debt transactions including securitization or collateral based lending facilities.
- Knowledge of derivative documentation including ISDA and CSA's and experience in developing associated covenants and margin thresholds.
- Proficiency with Word, Excel, PowerPoint and Bloomberg along with ability to quickly learn new programs and applications
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.
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 sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants 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.