About the position
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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! The GWIM Credit Product Specialist acts as an extension of the Credit Executives. The Specialist is responsible for actively developing and supporting strategies to identify and deliver credit opportunities (e.g., LMA, ISBL, PCL, Custom Lending & Margin) to Financial Advisors existing wealth management clients and prospects. These responsibilities are achieved by ensuring wealth management clients are knowledgeable of the Banks full suite of GWIM credit solutions and by supporting the flawless delivery of these solutions through a high-touch advisor/client experience. The primary mission of the Credit Product Specialist is to establish new credit relationships with the financial advisors wealth management clients/ prospects in addition to supporting/ expanding existing GWIM credit relationships with the intent of generating balance and revenue growth with appropriate risk adjusted returns. The Specialist will work with Financial Advisors, Wealth Management Clients, GWIM Custom Lending Credit Executives, GWIM Credit leadership, Risk Management and other specialist organizations to meet these objectives.
Responsibilities
- Develop and support strategies to identify and deliver credit opportunities to Financial Advisors' existing wealth management clients and prospects.
- Ensure wealth management clients are knowledgeable of the Bank's full suite of GWIM credit solutions.
- Support the flawless delivery of credit solutions through a high-touch advisor/client experience.
- Establish new credit relationships with financial advisors' wealth management clients/prospects.
- Support and expand existing GWIM credit relationships to generate balance and revenue growth with appropriate risk adjusted returns.
- Collaborate with Financial Advisors, Wealth Management Clients, GWIM Custom Lending Credit Executives, GWIM Credit leadership, Risk Management, and other specialist organizations.
Requirements
- 3 years of progressively responsible experience in the job offered or a related finance/banking occupation.
Nice-to-haves
- Bachelor’s degree or equivalent in Finance, Business Administration, Financial Economics, or related.
- Prefer 3 years of experience in marketing and selling Private Wealth credit solutions.
- Cultivating relationships with clients and Financial Advisors to identify credit opportunities and grow lending business.
- Negotiating with Underwriting and Risk on behalf of the client to structure sound loans.
- Conducting financial analysis including ratio analysis, DSC analysis, and collateral evaluations.
- Assessing existing portfolio of loans ensuring compliance with financial covenants and reporting.
Benefits
- Industry-leading benefits.
- Access to paid time off.
- Resources and support to employees.
