Special Asset Group Credit Officer II

Special Asset Group Credit Officer II

Charlotte, North Carolina;Glendale, California

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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. 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!

Job Description:

This job is responsible for directly managing a high-risk/criticized or distressed commercial loan portfolio. Key responsibilities include developing, negotiating, and implementing resolution strategies focused on reducing the volatility and severity of losses. Job expectations include adherence to all bank policies and regulatory requirements, proactive identification and mitigation of risks within the portfolio, and maintaining a high-level of integrity and ethical standards in all interactions.

The Special Assets Group (SAG) manages the Bank’s criticized, classified, and distressed commercial credit portfolio. SAG’s primary objective is to maximize recoveries, minimize loss severity, and execute disciplined, risk-based resolution strategies that protect the Bank’s interests while preserving long-term enterprise value where appropriate.

The SAG Credit Officer II is responsible for managing and resolving the Bank’s most complex criticized, classified, and distressed commercial credit relationships. The SAG Credit Officer II develops and executes resolution strategies, leads negotiations with borrowers and stakeholders, and provides subject matter expertise on complex credit situations. This role partners closely with senior leadership, Credit Risk, Legal, and line-of-business partners to drive resolution outcomes that maximize recoveries, minimize losses, and protect the Bank’s interests.

“Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy”

Responsibilities:

• Develops, negotiates, and implements comprehensive resolution strategies

• Manages and oversees adversarial collection actions (e.g. litigation, foreclosures, bankruptcies, and receiverships)

• Ensures compliance with bank policies and regulatory standards

• Oversees the asset quality of the portfolio through effective risk management practices

• Conducts periodic portfolio reviews

• Establishes and maintains collaborative partnerships with internal and external stakeholders

• Manage a portfolio of highly complex criticized, classified, and distressed commercial credit relationships through all stages of the resolution process

• Develop and execute credit resolution strategies to maximize recoveries, minimize loss severity, and protect the Bank’s interests through restructurings, repayment plans, settlements, discounted payoffs, collateral dispositions, note sales, and legal recovery actions

• Lead the assessment and management of complex distressed relationships, evaluating borrower performance, collateral, guarantor strength, industry conditions, and legal considerations; negotiate with borrowers and key stakeholders and present recommendations and portfolio updates to senior leadership and risk partners

• Drive effective portfolio management by monitoring performance, recovery trends, and risk migration; supporting forecasting, reserves, and criticized asset reporting; and mentoring associates while serving as a resource on complex credit situations and SAG process improvements

Required Qualifications:

• 7+ years of experience in corporate workout, credit restructuring, or related risk management experience

• Extensive knowledge of commercial lending, credit analysis, commercial loan documentation, collateral analysis, and commercial credit structures

• Proven negotiation skills and experience leading borrower, sponsor, legal, and lender discussions

• Strong financial analysis skills, including cash flow analysis, collateral evaluation, repayment capacity assessment, and enterprise valuation concepts

• Ability to exercise sound credit judgment and make decisions in complex, time-sensitive situations

• Proven ability to work independently while influencing outcomes across multiple internal and external stakeholders

• Strong communication skills; ability to communicate vertically, horizontally, and externally

• Industry knowledge across multiple sectors

Desired Qualifications:

• Knowledge of Business Law, a legal aptitude, strong knowledge of contracts, and knowledge of bankruptcy law

• Ability to work independently on complex transactions while exercising sound credit judgment

• Knowledge of ancillary banking products such as treasury services, derivatives, commercial cards, and deposits

• Strong knowledge of Commercial Loan Documentation

• Knowledge of Commercial Credit Structure

Skills:

• Adaptability

• Collection Management

• Critical Thinking

• Problem Solving

• Risk Management

• Credit and Risk Assessment

• Decision Making

• Financial Analysis

• Legal Structures and Legal Forms

• Underwriting

• Client Management

• Loan Structuring

• Negotiation

• Oral Communications

• Written Communications

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

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