SAG Corp/Comm Sr Portfolio Officer

Bank of America; Chicago (IL); On-site; USD 111,000 - 209,000; Full time

Job summary

Bank of America is seeking a Sr. Portfolio Officer in Chicago to manage the most complex distressed commercial credit relationships.

You will develop and execute resolution strategies, lead negotiations with borrowers and stakeholders, and collaborate with Risk Management and Legal to maximize recoveries. The role requires deep credit expertise, strong negotiation skills, and the ability to influence across multiple internal and external partners.

Qualifications

• Minimum of 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.

Responsibilities

• 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 and minimize losses.
• Lead negotiations involving restructurings, repayment plans, settlements, and collateral dispositions.
• Prepare and present strategy recommendations, credit approvals, and updates to senior leadership and risk partners.

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

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 Special Assets Group (SAG) manages the Bank’s criticized, classified, and distressed commercial credit portfolio. SAG’s primary objective is to maximize recoveries, minimize loss severity, and execute disciplined, risk‑based resolution strategies that protect the Bank’s interests while preserving long‑term enterprise value where appropriate.

The (SAG) Corp/Comm Senior Portfolio Officer is responsible for managing and resolving the Bank’s most complex criticized, classified, and distressed commercial credit relationships. The Sr. Portfolio Officer develops and executes resolution strategies, leads negotiations with borrowers and stakeholders, and provides subject matter expertise on complex credit situations. This role partners closely with senior leadership, Credit Risk, Legal, and line‑of‑business partners to drive resolution outcomes that maximize recoveries, minimize losses, and protect the Bank’s interests.

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. Monitor portfolio performance, recovery trends, and risk migration to identify emerging issues and drive timely action. Support portfolio forecasting, reserve discussions, criticized asset reporting, and other portfolio management activities. Coach and mentor junior associates on the team to help develop credit and corporate workout skills. Serve as a resource on complex credit situations and contribute to initiatives that strengthen SAG processes, risk management practices, and portfolio performance.

Required Qualifications:

• Minimum of 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.
• Proven ability to work independently while influencing outcomes across multiple internal and external stakeholders.
• Strong communication skills; ability to communicate vertically, horizontally, and externally 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
• Ability for problem solving / critical / creative thinking / mental flexibility
• 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

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 - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - RI - Providence - 1 Financial Plz - 1 Financial Plaza (RI1537)

Pay range $111,000.00 - $209,000.00 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.

Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice

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. 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!

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Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.

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Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency