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, Fort Worth , Credit Review Senior Portfolio Specialist, Accounting, Auditing , Dallas, Texas