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Job Description:
Must have 2-5 years workout/commercial loan experience. Educational and other accomplishments that are indicative of a highly motivated individual with strong advancement potential. Reports to a Special Assets Manager or a Senior Portfolio Officer. Spends majority of time assisting in the management of more complex relationships, with specific emphasis on financial analysis, credit action and asset quality report preparation, and documentation review. May also manage a portfolio.

Skills:

• Adaptability
• Collection Management
• Critical Thinking
• Problem Solving
• Risk Management
• Credit and Risk Assessment
• Decision Making
• Financial Analysis
• Legal Structures and Legal Forms
• Underwriting
• Client Management
• Loan Structuring
• Negotiation
• Oral Communications
• Written Communications

The Special Asset Group manages the high risk/criticized or distressed commercial loan portfolio for Bank of America. The SAG Portfolio Officer directly manages a portfolio of assigned relationships in the Business Banking portfolio and has primary responsibility to develop, negotiate and implement strategies designed to balance the bank's internal risk/return requirements by minimizing potential losses as well as supporting client needs. This position is primarily focused on small to medium sized, moderately complex relationships.

Depending on the severity of the client's financial distress, the SAG Portfolio Officer will either directly manage the relationship or work collaboratively with the originating line of business to develop and implement appropriate strategies. If managed directly, the SAG Portfolio Officer is the primary customer contact serving as both relationship officer and Credit Products Officer

The SAG Portfolio Officer:
• Develop and implement appropriate strategies to maximize recovery in distressed credits.
• Rehabilitate credits (when appropriate) and return to originating line of business.
• Pursue and oversee adversarial collection actions including litigation, foreclosure, Bankruptcy/363 sale, or Receivership.
• Negotiate and document amendments (subject to internal SAG approval)
• Conduct periodic portfolio reviews to ensure compliance with BAC and regulatory reporting requirements and internal risk ratings
• Develop relationships across lines of business within Bank of America.
• Develop a deeper understanding of loan structuring, bankruptcy law and workout strategies

Required Skills:

• Minimum of 2 years of experience with workout/commercial loans
• Financial Accounting
• Minimum of 2 years experience with client/customer interaction with negotiation component
• Loan Agreement Structuring experience (legal documentation)
• Strong Communications Skills (written and oral)
• Adapts well to dynamic environment

***Position to be filled at one of the locations listed on this posting.

Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - CT - East Hartford - 101 E River Dr - One Riverview Square (CT2550), US - RI - Providence - 1 Financial Plaza (RI1537)

Pay and benefits information

Pay range

$93,400.00 - $113,800.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.