Senior Distressed Credit & Special Assets Officer

Bank of America Corporation; New York (NY); On-site; USD 100,000 - 157,000; Full time

Job summary

Bank of America is seeking a senior professional to directly manage a high-risk, distressed commercial loan portfolio. You will develop, negotiate, and implement resolution strategies to reduce loss severity, while ensuring policy compliance and proactive risk mitigation across the portfolio.

The role requires deep credit analysis, negotiation expertise, and leadership to guide complex workouts and engage stakeholders through all stages of resolution.

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

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.

Skills

Negotiation

Financial Analysis

Credit Risk Assessment

Risk Management

Decision Making

Client Management

Education

High School Diploma

Job description

Bank of America is seeking a senior professional to directly manage a high-risk, distressed commercial loan portfolio. You will develop, negotiate, and implement resolution strategies to reduce loss severity, while ensuring policy compliance and proactive risk mitigation across the portfolio.

The role requires deep credit analysis, negotiation expertise, and leadership to guide complex workouts and engage stakeholders through all stages of resolution.