Credit Review Senior Portfolio Specialist
Company: Disability Solutions
Location: Dallas
Posted on: October 20, 2024
Job Description:
Job Description:At Bank of America, we are guided by a common
purpose to help make financial lives better through the power of
every connection. Responsible Growth is how we run our company and
how we deliver for our clients, teammates, communities and
shareholders every day.One of the keys to driving Responsible
Growth is being a great place to work for our teammates around the
world. We're devoted to being a diverse and inclusive workplace for
everyone. We hire individuals with a broad range of backgrounds and
experiences and invest heavily in our teammates and their families
by offering competitive benefits to support their physical,
emotional, and financial well-being.Bank of America believes both
in the importance of working together and offering flexibility to
our employees. We use a multi-faceted approach for flexibility,
depending on the various roles in our organization.Working at Bank
of America will give you a great career with opportunities to
learn, grow and make an impact, along with the power to make a
difference. Join us!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. Establishes working relationships with
relevant Risk and regulatory partners to facilitate ongoing
dialogue of key issues and emerging risks. Additionally, assist the
Portfolio Manager(s) in preparing quarterly Business Assessment
Reports and Coverage Plans; maintains awareness of current economic
trends and its impact on credit portfolios.We are looking for a
Portfolio Specialist to join our dynamic, high-energy Credit Review
team supporting review of Global Markets, Financial Institutions
and Global Wealth and Investment Management
businesses.Responsibilities:
- Either individually or 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
- 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 reviewSkills:
- 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 associatesRequired:
- Minimum of 8 - 10 years of commercial credit experience (direct
lending, underwriting, workout, credit review, 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 concentrationDesired:
- 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
associatesSkills:
- 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 CommunicationsShift:1st shift (United States of
America)Hours Per Week: 40Pay Transparency detailsUS - CT - East
Hartford - 101 E River Dr - One Riverview Square (CT2550), US - CT
- Stamford - 600 Washington Blvd (CT2561), US - RI - Providence - 1
Financial Plaza (RI1537)Pay and benefits informationPay
range$137,800.00 - $183,700.00 annualized salary, offers to be
determined based on experience, education and skill
set.Discretionary incentive eligibleThis 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.BenefitsThis 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.
Keywords: Disability Solutions, Richardson , Credit Review Senior Portfolio Specialist, Accounting, Auditing , Dallas, Texas
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