Job Description:
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) Corp/Comm Senior Portfolio Officer is responsible for managing and resolving the Bank’s most complex criticized, classified, and distressed commercial credit relationships. The Sr. Portfolio Officer 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.
- 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 designed to maximize recoveries, minimize loss severity, and protect the Bank’s interests.
- Assess borrower performance, collateral support, guarantor strength, industry conditions, and legal considerations to determine the optimal path to resolution.
- Lead negotiations involving restructurings, repayment plans, settlements, discounted payoffs, collateral dispositions, note sales, and other recovery-focused solutions.
- Prepare and present strategy recommendations, credit approvals, and portfolio updates to senior leadership and risk management partners.
- Serve as the primary point of contact for borrowers, sponsors, attorneys, consultants, participating lenders, and other stakeholders associated with assigned relationships.
- Manage bankruptcy, litigation, foreclosure, receivership, and other legal recovery actions to maximize recoveries and minimize losses.
- Monitor portfolio performance, recovery trends, and risk migration to identify emerging issues and drive timely action.
- Support portfolio forecasting, reserve discussions, criticized asset reporting, and other portfolio management activities.
- Coach and mentor junior associates on the team to help develop credit and corporate workout skills.
- Serve as a resource on complex credit situations and contribute to initiatives that strengthen SAG processes, risk management practices, and portfolio performance.
Required Qualifications:
- Minimum of 7+ years of experience in middle market or large corporate loans, 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
- Ability for problem solving / critical / creative thinking / mental flexibility
- Strong Negotiation Skills
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
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), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100), US - RI - Providence - 1 Financial Plz - 1 Financial Plaza (RI1537)
Pay and benefits information
Pay range
$111,000.00 - $209,000.00 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.
