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Bank Of America Credit Review Senior Portfolio Specialist United States, New York, New York 437906744
Job Description:
Job Description:
Working with Portfolio Manager(s), establish and execute a risk based coverage plan for specific portfolio(s). Coverage plan to include, at a minimum, examinations, transaction reviews, risk assessments and issue management.
Serve as subject matter expert for and/or lead risk-based and regulatory examinations.
Credit Review provides an independent assessment of credit decisions and the effectiveness of credit processes across the bank’s credit platform, identifies existing and emerging risks, and reports its findings to various stakeholders, including executive management, the Board of Directors or committee thereof, external auditors and regulatory agencies.
The Portfolio Specialist works together with the Credit Review Portfolio Manager(s) to establish and execute a risk-based coverage plan for a specific portfolio(s) or set of portfolios for assessing the quality of credit decisioning and the effectiveness of credit processes and policies. Key responsibilities include executing transaction reviews, leading examinations as an Examiner-in-Charge (EIC) or Assistant Examiner-in-Charge (AEIC), secondary reviews of transaction testing completed by other examiners and issues management. Manages field work capacity for exams to ensure accurate and timely execution of Credit Review examinations. Coaches, mentors, and reviews the work product of new or junior team members.
Responsibilities:
- Either individually or working with Portfolio Manager(s), establish and execute a risk-based coverage plan for specificportfolio(s). CoveragePlan to include, at a minimum, examinations, transaction reviews, risk assessments and issue management
- Serve as subject matter expert for and/or lead risk-based and regulatory examinations
- Perform transactional testing of credit process execution of new and existing clients, and provide direct and timely feedback on transactional reviews completed by others
- Effectively assimilate information from various sources to identify emerging risks
- Provide input into staffing and resource allocations
- Build and implement tactical on-boarding plans for new examiners
- Provide periodic updates to business heads and executive management, including communication of examination and monitoring results, new issues and emerging risks
- Issue management, including approval of issue severity ratings, action plans, ongoing issue status tracking and oversight of issue validation
- Track and follow observations from exams/monitoring that don’t yet rise to the level of issues
- Actively engage with Corporate Audit to ensure ongoing awareness of review activity, coordination, and ongoing risk assessment
- Actively participate in regulator meetings, liaise with regulators to provide periodic updates on monitoring/exam results, and respond to inquiries from regulators and other external reviewers
- Provide input to top of house reporting for Board and senior management
- Drive a culture of continuous improvement by leading or participating in complex or multiple projects
- Produce quality, timely work
- Maintain well-written, easy to follow work papers in accordance with Credit Review guidelines and best practices
- Raise potential areas of concern for QA team to review
Skills:
- Extensive commercial credit related experience, including deep understanding of large or complex portfolios. Capital Markets experience with knowledge of Counterparty Credit Risk (traded products) strongly preferred.
- Experience in risk management, lending and/or regulatory agencies
- Excellent credit analysis and project management skills, excellent verbal and written communication, strong interpersonal and leadership skills
- Data manipulation and analysis skills
- Effective process assessment skills - the ability to identify control gaps and their implications to the broader population
- Ability to support conclusions through fact-based analysis and ability to influence senior leaders
- Ability to manage multiple complex tasks while delivering high quality results
- Experience navigating a matrix organization
- Independent and takes initiative
- Resourcefulness in identifying, assessing, and reporting on emerging risks
- Experience with a Credit Review examination process
- Proficiency in Excel
- Ability to work in a team environment, focus on high quality execution
- Critical thinker, high energy and intellectually curious
- Experience with leading without authority
- Ability to coach and develop more junior associates
Required:
- Minimum of 8 – 10 years of commercial credit experience (direct lending, underwriting, workout, risk management and/or regulatory)
- Ability to support conclusions through fact-based analysis and ability to influence senior leaders
- Excellent credit analysis, project management and leadership skills
- Strong organizational and communication skills, both written and verbal
- Ability to manage multiple complex tasks while delivering high quality results
- Bachelor’s Degree with a preference in finance, accounting, economics or other business concentration
Desired:
- 10+ years of direct commercial credit experience. Experience managing traded products and complex structured financing facilities with asset managers and other institutional clients globally
- Demonstrated experience in identifying, assessing, and reporting on existing and emerging risks
- Experience with direct applicability to Credit Review responsibility
- Ability to coach/mentor new or less experienced associates
Skills:
- Audit Planning
- Financial Analysis
- Internal Audit Review
- Risk Management
- Underwriting
- Business Acumen
- Credit and Risk Assessment
- Critical Thinking
- Issue Management
- Portfolio Analysis
- Analytical Thinking
- Regulatory Compliance
- Relationship Building
- Stakeholder Management
- Written Communications
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