Job Description:Position Summary:This job is responsible for overall portfolio or product set performance and asset quality and may include credit approval authority. Key responsibilities include focusing on but not limited to credit, market, and reputational risk; as well as adherence to credit risk policies and external/internal reporting, including but not limited to Top of House (TOH) and Line of Business (LOB) specific reports or regulatory related reporting. Job expectations include having detailed knowledge of regulatory issues and providing expertise on highly complex transactions to business/support partners.
The Credit Risk Manager is responsible for providing independent credit risk oversight for Bank of America's Real Estate Structured Finance (RESF) business across the United States and EMEA. This role serves as the primary Credit Risk partner on the most complex, high-profile, and sensitive transactions, working closely with Relationship Managers, Credit Product Specialists, and other key stakeholders throughout the transaction lifecycle.
The successful candidate will be responsible for evaluating and approving credit opportunities, providing guidance on transaction structuring, identifying and mitigating risks, and ensuring compliance with internal policies and regulatory expectations. In addition, the role includes ongoing portfolio oversight, market analysis, and active participation in strategic initiatives that support the continued development of the RESF platform.
As a member of the RESF Credit Risk team, the individual will provide credit risk coverage for designated markets and exercise approval authority up to the assigned lending limit.
Responsibilities:- Sets or oversees the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
- Supports or oversees the credit approval process and therefore is accountable for overall portfolio performance and asset quality, including underwriting, structuring and monitoring tasks
- Conducts analysis, inspects and/or develops credit risk reporting for specific products, and monitors and reports on key indicators for changes in credit quality to communicate to senior management
- Sets or oversees adherence to policy and standards and ensures first line credit officers and managers are appropriately performing due diligence that the risk is within the bank's defined risk appetite, using knowledge of stress testing and its applicability to credit risk
- Monitors for adherence to industry risk governance, as well as monitoring for potential operational, reputational and market risk issues
- Identifies risks early that could impact the assigned portfolio and coordinates with business counterparts to resolve portfolio issues
- Translates and manages plans of action to achieve a goal across varying audiences
- Review, challenge, and approve financing requests originated by the U.S. and EMEA Real Estate Structured Finance teams, ensuring transactions are appropriately structured and aligned with the bank's risk appetite and policy requirements.
- Partner with Relationship Managers and Credit Product Specialists to evaluate new business opportunities, identify key risks, develop mitigation strategies, and provide transaction structuring guidance.
- Maintain ongoing oversight of an assigned loan portfolio, including monitoring asset performance, market developments, underwriting trends, and emerging risk factors.
- Prepare and present materials for Quarterly Portfolio Review meetings, including analysis of market conditions, portfolio performance, asset quality trends, country risk considerations, and other key portfolio metrics.
- Assess a broad spectrum of risks associated with transactions and portfolios, including credit, market, counterparty, operational, legal, and reputational risks.
- Provide guidance on policy interpretation and application, ensuring consistent adherence to internal credit standards and regulatory expectations.
- Collaborate closely with Front Line Units and key risk and support partners, including Market Risk, Counterparty Risk, Legal, Credit Review, Appraisal, Compliance, and other control functions.Participate in securitization-related activities, including:Reviewing loans acquired from third-party originators for inclusion in CMBS transactions.
- Participating in B-piece investor due diligence and review discussions.Reviewing and approving risk retention structures for CMBS and Single-Asset Single-Borrower (SASB) transactions.
- Lead or support strategic and regulatory initiatives, including policy and procedure enhancements, Operational Excellence programs, Matter Requiring Attention (MRA) remediation efforts, market studies, and other special projects.
- Mentor and advise RESF team members on transaction-specific risks, underwriting considerations, and risk mitigation strategies to promote strong and consistent credit practices.
- Develop and maintain strong relationships with business partners and provide credible challenge on risk issues while supporting responsible business growth.
- This role requires frequent interaction with senior leaders across Global Risk, the Front Line Units, and other enterprise partners.
- The individual must be able to communicate complex risk and market considerations effectively, provide thoughtful challenge, and influence decisions at multiple levels of the organization.
Required Skills:
- Bachelor's degree in Real Estate, Finance, Accounting, Economics, Business Administration, or a related discipline; equivalent education and relevant professional experience will also be considered.
- Minimum of 10 years of progressive experience in commercial real estate lending, underwriting, credit risk management, or structured finance, with significant exposure to complex institutional real estate transactions.
- Experience with CMBS, SASB, and structured finance transactions is strongly preferred.
- Demonstrated expertise in commercial real estate credit underwriting, including analysis of sponsor strength, property cash flows, capital structures, market dynamics, valuation methodologies, and repayment capacity.
- Strong financial modeling and analytical skills, including cash flow forecasting, debt sizing, stress testing, valuation analysis, sensitivity analysis, and performance monitoring across a range of property types.
- Extensive knowledge of credit risk management principles, regulatory expectations, risk appetite frameworks, credit policies, portfolio management practices, risk rating methodologies, and loss forecasting concepts.
- Proven ability to independently evaluate and approve complex credit transactions, identify emerging risks, challenge assumptions, and develop effective risk mitigation strategies.
- Exceptional organizational and prioritization skills with the ability to manage a high-volume transaction pipeline, balance competing priorities, and consistently meet deadlines in a fast-paced environment.
- Demonstrated ability to lead multiple concurrent initiatives from inception through execution while maintaining a high level of accuracy, attention to detail, and sound risk judgment.
- Strong project management, problem-solving, and execution capabilities, with a track record of driving complex initiatives to successful completion.
- Excellent relationship management and influencing skills, with the ability to build credibility, foster collaboration, navigate differing viewpoints, and achieve consensus across business and risk partners.
- Proven ability to communicate complex financial and risk concepts clearly and effectively to senior management, risk committees, and other key stakeholders through both written and verbal presentations.
- High degree of professional maturity, accountability, and independent judgment, coupled with a strong understanding of the responsibilities and expectations associated with a senior credit risk management role.
- Advanced proficiency in Microsoft Excel, Word, and PowerPoint, along with experience using Adobe Acrobat and other analytical and reporting tools.
Skills:- Credit and Risk Assessment
- Critical Thinking
- Risk Analytics
- Risk Management
- Strategic Thinking
- Decision Making
- Interpret Relevant Laws, Rules, and Regulations
- Issue Management
- Portfolio Analysis
- Regulatory Compliance
- Business Intelligence
- Financial Accounting
- Inclusive Leadership
- Influence
- Presentation Skills
Shift:1st shift (United States of America)
Hours Per Week: 40
Pay Transparency detailsUS - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)
Pay and benefits information
Pay range
$104,300.00 - $183,000.00 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.
