Credit Officer II - Asset Based Finance

Merrill; Auburn Hills (MI); On-site; USD 119,000 - 200,000; Full time

Job summary

Bank of America’s Asset Based Finance group covers a portfolio of asset-based lending clients, delivering credit solutions and managing risk. The role focuses on syndicated and sole lender facilities from $20 million to $5 billion, with senior, client-facing responsibilities.

The candidate will lead credit opportunities, review legal documentation, oversee junior associates, and build relationships with counsel and sponsors. Some travel to meet clients is required.

Qualifications

• 5+ years' experience in asset based lending, commercial banking, or private credit.
• Sound understanding of credit, transaction structuring, and financial and collateral analysis.
• Detailed understanding of legal documentation.

Responsibilities

• Manages a portfolio of asset-based structured loans in the general industries space
• Proactively identifies credit solutions and opportunities to grow funded loans and spreads
• Actively monitors financial and collateral trends and recommends appropriate action
• Review requests for loan modifications
• Analyzes financial performance, negotiates credit terms, drafts proposals, reviews and negotiates loan documents, and oversees preparation of recommendations for approval
• Builds client relationships
• Handles both performing credits as well as distressed/turnaround credits including managing accounts through restructurings and bankruptcy processes

Skills

Attention to Detail

Client Management

Decision Making

Underwriting

Credit Documentation Requirements

Critical Thinking

Portfolio Management

Problem Solving

Written Communications

Financial Analysis

Negotiation

Education

Bachelor's or Master's degree

Formal Credit Training

Experience with bankruptcy and restructuring matters

Job description

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Job Description:

Covers a portfolio of asset based lending clients, with responsibility for delivering credit solutions and managing risk. Bank of America's Asset Based Finance ("ABF") group provides asset-based loans to clients in the Global Commercial and Global Corporate and Investment Banks, partnering closely with relationship management and product partners. Typical focus is syndicated and sole lender facilities ranging in size from $20 million to up to $5 billion.

This is a senior, client-facing role, with primary responsibilities including analyzing client trends to identify opportunities and manage risk and growing funded loans and credit revenue. Additional responsibilities would include pitching credit opportunities, managing higher attention credits, reviewing and negotiating legal documentation, and overseeing the work of junior associates, including analysis of financial performance and preparation of approval documents.

The target candidate would be expected to handle more complex client relationships, as well as take a leadership role in managing bank groups and relationships with legal counsel, financial advisors, and financial sponsors. Some travel would be required to meet with clients.

Responsibilities:

• Manages a portfolio of asset-based structured loans in the general industries space
• Proactively identifies credit solutions and opportunities to grow funded loans and spreads
• Actively monitors financial and collateral trends and recommends appropriate action
• Review requests for loan modifications
• Analyzes financial performance, negotiates credit terms, drafts proposals, reviews and negotiates loan documents, and oversees preparation of recommendations for approval
• Builds client relationships
• Handles both performing credits as well as distressed/turnaround credits including managing accounts through restructurings and bankruptcy processes

Skills:

• Attention to Detail
• Client Management
• Decision Making
• Underwriting
• Credit Documentation Requirements
• Critical Thinking
• Portfolio Management
• Problem Solving
• Written Communications
• Financial Analysis
• Negotiation

Required Qualifications:

• 5+ years' experience in asset based lending, commercial banking, or private credit
• Sound understanding of credit, transaction structuring, and financial and collateral analysis
• Detailed understanding of legal documentation

Desired Qualifications:

• Bachelor's or Master's degree
• Formal Credit Training
• Experience with bankruptcy and restructuring matters

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

• US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)
• US - OH - Cleveland - 1375 E 9TH ST - 1 CLEVELAND CENTER (OH4375)

Pay and benefits information

Pay range

$119,000.00 - $200,000.00 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 c