Credit Analyst III - Global Wealth & Investment Management

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We drive Responsible Growth and deliver for our clients, teammates, communities, and shareholders every day. We foster 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 teammates’ physical, emotional, and financial wellness through affordable, competitive, and flexible benefits.

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.

About the role

The Credit Analyst III proactively manages the credit risk of a portfolio by serving as a first line of defense in recognizing deteriorating financial trends via scheduled covenant testing. The Credit Analyst III is responsible for monitoring GWIM client compliance with reporting requirements and financial covenants, including the setup of financial reporting and covenant requirements following a loan closing and subsequent testing. The role also supports the timely resolution of failed covenants by advising the credit team on trends or specific causes of covenant failures and recommends waivers, amendments, and other changes in loan terms to address credit or operational risk issues.

Responsibilities

• Drive effective and efficient monitoring of client portfolios, including management of internal reporting and timely, accurate covenant testing
• Create and maintain value-driven relationships with members of the client team and internal business partners to achieve objectives and resolve issues in a timely manner
• Ensure accurate monitoring of loan document requirements and covenants through Credit Taker Setups and Verifies in GMS
• Complete all required financial covenant testing within 30 days of document receipt
• Provide early warning of deterioration in client financial profile to the client team
• Participate in the resolution of covenant failures
• Pull financial reporting and covenant requirements out of loan documentation and set up in GMS
• Actively manage a GMS queue of client relationships requiring financial covenant compliance testing within established timeframes
• Improve the operating environment through escalation of process gaps and highlighting opportunities for improvement at an Enterprise or GWIM Credit level
• Manage multiple tasks simultaneously and adjust workload to meet deadlines

Requirements

• 3+ years of credit analysis or a closely related credit risk role, including financial covenant testing and ability to interpret and apply Commercial credit agreement terminology and concepts
• 2+ years of credit analysis experience with Commercial credit policies and procedures
• Proficient in interpreting various Commercial loan documents including credit agreements and amendments, setting up financial reporting and covenant requirements in systems such as GMS
• Experienced in managing compliance workflows and covenant breaches in a timely fashion and mitigating covenant risk
• Strong working knowledge of commercial loan structures and financial statement analysis, including personal financial statements, brokerage statements, rent rolls, and NOI statements; ability to identify and escalate early signs of credit deterioration
• Working proficiency with Commercial loans, collateral, client data and workflow systems, SharePoint, and Adobe Acrobat

Qualifications

• Bachelor’s degree in Accounting, Finance, or equivalent experience
• System knowledge of LIQ, PACE, GMS, GUS, EDR, Genesis, Image Trust, Navigator, SharePoint, KYC, Adobe Acrobat Standard

Skills

• Attention to Detail
• Client Management
• Decision Making
• Underwriting
• Credit Documentation Requirements
• Critical Thinking
• Portfolio Management
• Problem Solving
• Written Communications
• Financial Analysis
• Negotiation

Schedule

• 1st shift (United States of America)
• 40 hours per week