Credit Officer II-Special Assets Group

Bank of America; Providence (RI); On-site; USD 160,000 - 220,000; Full time

Job summary

Bank of America is seeking a seasoned credit workout professional to manage a high-risk commercial loan portfolio. You will develop and implement strategies to reduce losses, negotiate restructurings, and coordinate with sponsors, attorneys, and lenders while ensuring strict regulatory compliance.

Responsibilities include leading recovery actions, evaluating borrower performance, and presenting updates to senior leadership.

Qualifications

• 7+ years in middle market or large corporate loans, credit restructuring, or risk management.
• Experience in commercial lending, credit analysis, loan documentation, collateral analysis, and credit structures.
• Proven negotiation skills with borrower/sponsor, legal, and lender discussions.
• Strong financial analysis including cash flow, collateral eval, repayment capacity, and enterprise valuation.

Responsibilities

• Develops, negotiates, and implements resolution strategies.
• Oversees adversarial collection actions (litigation, foreclosures, bankruptcies, receiverships).
• Ensures compliance with bank policies and regulatory standards.
• Oversees asset quality through effective risk management practices.
• Conducts periodic portfolio reviews.
• Establishes collaborative partnerships with internal and external stakeholders.
• Manage a portfolio of complex distressed commercial credit relationships through all resolution stages.
• Lead negotiations on restructurings, repayment plans, settlements, and collateral dispositions.

Skills

Adaptability

Negotiation

Financial analysis

Credit judgment

Risk assessment

Underwriting

Client management

Decision making

Education

High School Diploma / GED / Secondary School or equivalent

Job description

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. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

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. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description

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 in all interactions.

Responsibilities

• Develops, negotiates, and implements comprehensive resolution strategies
• Manages and oversees adversarial collection actions (e.g. litigation, foreclosures, bankruptcies, and receiverships)
• Ensures compliance with bank policies and regulatory standards
• Oversees the asset quality of the portfolio through effective risk management practices
• Conducts periodic portfolio reviews
• Establishes and maintains collaborative partnerships with internal and external stakeholders
• Manage a portfolio of highly complex criticized, classified, and distressed commercial credit relationships through all stages of the resolution process.
• Develop and execute credit resolution strategies designed to maximize recoveries, minimize loss severity, and protect the Bank's interests.
• Assess borrower performance, collateral support, guarantor strength, industry conditions, and legal considerations to determine the optimal path to resolution.
• Lead negotiations involving restructurings, repayment plans, settlements, discounted payoffs, collateral dispositions, note sales, and other recovery-focused solutions.
• Prepare and present strategy recommendations, credit approvals, and portfolio updates to senior leadership and risk management partners.
• Serve as the primary point of contact for borrowers, sponsors, attorneys, consultants, participating lenders, and other stakeholders associated with assigned relationships.
• Manage bankruptcy, litigation, foreclosure, receivership, and other legal recovery actions to maximize recoveries and minimize losses.
• Coach and mentor junior associates on the team to help develop credit and corporate workout skills.

Required Qualifications

• 7+ years of experience in middle market or large corporate loans, credit restructuring, or related risk management experience.
• Extensive knowledge of commercial lending, credit analysis, commercial loan documentation, collateral analysis, and commercial credit structures.
• Proven negotiation skills and experience leading borrower, sponsor, legal, and lender discussions
• Strong financial analysis skills, including cash flow analysis, collateral evaluation, repayment capacity assessment, and enterprise valuation concepts.
• Ability to exercise sound credit judgment and make decisions in complex, time-sensitive situations.
• Industry knowledge across multiple sectors

Desired Qualifications

• Knowledge of Business Law, a legal aptitude, strong knowledge of contracts, and knowledge of bankruptcy law
• Ability to work independently on complex transactions while exercising sound credit judgment
• Knowledge of ancillary banking products such as treasury services, derivatives, commercial cards, and deposits
• Strong knowledge of Commercial Loan Documentation
• Knowledge of Commercial Credit Structure
• Strong Negotiation Skills

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

Minimum Education Requirement

High School Diploma / GED / Secondary School or equivalent

Shift

1st shift (United States of America)

Hours Per Week

40