Product Specialist I/II/III - Proactive Risk Detection (Commercial Credit)

Bank of America; St. Louis (MO); On-site; USD 74,000 - 115,000; Full time

Benefits offered by this job

Annual incentive plan

Benefits eligible

Paid time off

Job summary

Bank of America is seeking a Product Specialist II to perform proactive portfolio monitoring for Business Banking clients as part of the Proactive Risk Detection program. You will analyze client relationships, identify risks, and provide recommendations to Credit and Risk partners to maintain sound portfolio management.

The role includes renewing eligible cash-secured Letters of Credit under the PBU process, conducting flood due diligence, and ensuring data integrity across credit systems while

Qualifications

• Minimum 18 months of experience in commercial banking, credit administration, underwriting support, risk management, loan servicing, or a related financial services role.
• Basic understanding of financial statement analysis, credit underwriting, and risk assessment principles.
• Working knowledge of credit systems, including CreditCenter, Credit Sync, Loan IQ, or similar platforms preferred.

Responsibilities

• Conduct relationship reviews and ongoing risk monitoring for Business Banking clients via PRD process.
• Renew eligible cash-secured Letters of Credit through the PBU process.
• Monitor client credit compliance and identify exceptions needing remediation or escalation.
• Complete risk rating scorecards and maintain accurate risk assessments.
• Perform flood due diligence reviews and ensure regulatory compliance.
• Maintain data integrity across credit systems and documentation.
• Collaborate with Sales, Credit and Risk teams to address exceptions and implement mitigation.

Skills

Commercial Banking

Credit Risk Monitoring

Relationship Management

Analytical Skills

Regulatory Compliance

MS Office

Education

High School Diploma / GED

Bachelor's degree in Business Administration, Finance, Accounting, Economics

Tools

CreditCenter

Credit Sync

Loan IQ

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

The Product Specialist II performs proactive portfolio monitoring for Business Banking (BB) clients through the Proactive Risk Detection (PRD) process. The associate analyzes client relationships, identifies emerging risks, trends, exceptions and opportunities, and provides recommendations to Credit and Risk partners to support sound portfolio management. The Product Specialist II is expected to deliver timely completion of loan monitoring activities, accurate risk identification, regulatory compliance, and adherence to established credit policies and procedures. In addition, the Product Specialist II is responsible for managing and renewing eligible cash‑secured Letters of Credit (LCs) that qualify under the Performance Based Underwriting (PBU) process. This role supports the ongoing monitoring and management of credit risk through credit compliance reviews, risk rating assessments, flood due diligence, and maintenance of data integrity.

• Conduct relationship reviews and perform ongoing risk monitoring for Business Banking clients through the Proactive Risk Detection (PRD) process.
• Renew eligible cash‑secured Letters of Credit through the Performance Based Underwriting (PBU) process.
• Monitor client credit compliance and identify exceptions requiring remediation or escalation.
• Complete risk rating scorecards and maintain accurate risk assessments.
• Perform flood due diligence reviews and ensure compliance with applicable regulations.
• Maintain data integrity across credit systems and supporting documentation.
• Analyze financial, operational, and credit data to proactively identify emerging risks and opportunities.
• Partner with Business Banking Sales, Credit and Risk teams to resolve exceptions and implement risk mitigation strategies.
• Ensure timely follow‑up and completion of loan monitoring requirements.
• Support portfolio quality objectives through accurate risk recognition and sound credit practices.
• Deliver exceptional client and partner support throughout the credit management lifecycle.
• Maintain compliance with bank policies, procedures, and regulatory requirements.

Required Skills

• Minimum 18 months of experience in commercial banking, credit administration, underwriting support, risk management, loan servicing, or a related financial services role.
• Basic understanding of financial statement analysis, credit underwriting, and risk assessment principles.
• Working knowledge of credit systems, including CreditCenter, Credit Sync, Loan IQ, or similar platforms preferred.
• Strong analytical, organizational, and problem‑solving skills.
• Ability to manage multiple priorities and work independently in a fast‑paced environment.
• Effective communication and interpersonal skills with the ability to collaborate across business and credit teams.
• Demonstrated sound judgment, attention to detail, and commitment to quality.
• Proficiency in Microsoft Office applications, including Excel, Word, and Outlook.
• Demonstrated ability to adapt to change and continuously develop technical and professional skills.

Core Competencies

• Credit & Risk Assessment
• Credit Documentation & Compliance
• Portfolio Monitoring
• Risk Identification & Mitigation
• Financial Analysis
• Customer & Client Focus
• Data Management & Reporting
• Attention to Detail
• Business Acumen
• Problem Solving & Decision Making
• Collaboration & Relationship Management
• Prioritization & Time Management
• Oral & Written Communication

Minimum Education Requirement

High School Diploma / GED / Secondary School or equivalent. Bachelor's degree in Business Administration, Finance, Accounting, Economics, or a related field required preferred.

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)

Pay and benefits information

Pay range

$74,000.00 - $115,000.00 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 communities we serve.