Job Description:
This job is responsible for managing clients and related credit products, partnering closely with relationship management, sales/trading, treasury management, operations and risk teams to support the client relationship. Key responsibilities include underwriting, monitoring, managing operational needs and/or client requests. Job expectations include credit-focused client management responsibilities, independent thought leadership, strong leadership skills, the ability to provide feedback to less experienced teammates and may also manage a team.
This GWIM Credit Securities Based Lending (SBL) Specialist role is responsible for delivering securities-based lending solutions to wealth management clients in Merrill, and growing loan balances, through effective partnership with Merrill advisors and market leadership within the assigned geographic territory. Primary responsibilities include increasing advisor participation and client engagement with securities-based lending solutions, providing product education and supporting deal execution. A Series 7 and 63 (or 66) are required for the position.
“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:
Partners with relationship management and product partners to assess clients’ credit needs and create solutions
Leads loan structure conversations and negotiates loan documentation with clients and internal/external legal partners
Drives credit and risk approval processes for new credit originations, renewals, increases, and modifications
Leads ongoing monitoring efforts for a portfolio of clients in compliance with regulations, policy and procedures
Drives the growth of funded loans and revenue while mitigating risks, maintaining asset quality and adhering to regulatory requirements
Serves as an escalation point for complex credit transactions
Mentors and supports associates
Cultivate relationships with Merrill advisors to identify credit opportunities, support client outreach and implement SBL loan facilities
Develop and execute lending strategy and initiatives, in partnership with Merrill market leadership, to achieve SBL growth objectives
Educates Advisors and key partners on SBL capabilities and risk appetite to increase engagement and penetration
Required Qualifications:
8+ years of experience in commercial or wealth management lending or providing wealth management solutions in partnership with advisors
Effective collaboration with Merrill leadership and advisors and partners to consistently deliver SBL solutions to wealth management clients
Strong oral and written communication
Organized and can handle/prioritize ongoing business development across multiple Merrill markets
Ability to work well with underwriting, risk, and other business partners
FINRA 7 and 63 (or 66) licenses (if not currently licensed, must be completed within 120 days of start date).
Desired Qualifications:
Has FINRA SIE, Series 7 & 66
Bachelor’s degree
Specific experience in marketing and selling wealth management credit solutions through Advisors
Skills:
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)
Pay and benefits information
Pay range
$150,000.00 - $150,000.00 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.
