Senior Credit Underwriter – Asset Based Lending

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OtherCredit Underwriter

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Quick Summary

Key Responsibilities

This job is responsible for supporting credit underwriting and monitoring for new and existing clients in partnership with a credit team.

Technical Tools

OtherCredit Underwriter

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!

Responsibilities

~2 min read

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Manages a portfolio of clients supporting underwriting and/or monitoring requirements with limited to moderate complexity
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Independently works with Relationship Management, and Risk teammates to understand structuring needs and requirements
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Delivers financial modeling, loan structure, industry, economic, and other analyses to team members to support the loan decision-making process
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Reviews work of junior teammates to provide feedback/coaching and ensure compliance with laws, rules, regulations and policy procedure
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Has credit approval for certain credit actions
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Leads loan structure conversations and completion of loan documentation with internal/external legal partners
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Works in a team setting with business development officers, relationship managers and/or product specialists and are responsible to develop, structure, analyze, covenant, document, fund and close ABL transactions.
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Interfaces directly with clients and prospects, financial sponsors and/or financial intermediaries (including outside accountants, legal counsel, appraisers, field examiners, etc.).
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Must gain a full understanding of Bank of America credit policies and procedures in order to identify and resolve issues during the underwriting, documentation and closing processes.
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Evaluates creditworthiness and provides analysis and decisioning on whether a client should receive a credit facility
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Partners with Credit Officers, Relationship Management, and Risk teammates to assess and deliver credit solutions
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Monitors the client's operating performance and financial condition, proactively identifying issues and opportunities
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Delivers financial modeling, loan structure, industry, economic, and other analysis to team members to support the loan decision-making process
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Ensures adherence to credit policies, guidelines, procedures, and applicable regulatory requirements
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Analyzing new prospects for credit quality and ABL potential, including financial and projections
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Evaluate collateral from a broad spectrum of industries for suitability for asset-based facilities
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Assist in negotiation of term sheets and credit agreements with prospective clients
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Prepare internal documentation to evaluate new opportunities to include pre-screens and final approval documentation.
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Work closely with risk management on approvals; present borrower and structure to risk committee in order to secure deal approval
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Work with outside counsel and other third parties, including appraisers and field examiners, to document and close transactions

Requirements

~1 min read

10+ years of asset-based experience
Familiarity with asset-based lending across broad industries, including specific sector risks and nuances
Completion of formal credit training
BA/BS Degree with concentration in Finance, Accounting or related
Demonstrates sound judgment and acts with speed - able to achieve results quickly

1st shift (United States of America)

Attention to Detail
Credit and Risk Assessment
Financial Analysis
Underwriting
Written Communications
Analytical Thinking
Credit Documentation Requirements
Financial Forecasting and Modeling
Recording/Organizing Information
Business Acumen
Collaboration
Collateral Management
Loan Structuring
Prioritization

US - CA - Los Angeles - 333 S HOPE ST - BANK OF AMERICA PLAZA (CA9193), US - CA - Newport Beach - 520 Newport Center Dr - Newport Beach 520 Ncd (CA6814), US - WA - Seattle - 401 Union St - Rainier Square (WA1510)

Pay and benefits information

Pay range

$110,000.00 - $200,000.00 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.