Job Description Global Markets Credit ("GMC") is responsible for ensuring robust and consistent credit underwriting for Global Markets trading and lending activities. Within GMC the Associate will be expected to work independently supporting the growth plans of the FICC trading desk including FX and Interest Rates products focusing on the Private Equity fund client base. The ability to work independently with the business, risk and other partners to execute against the business plan is key.
Key Duties and Responsibilities:
Provide Global Markets Credit coverage of trading and potentially lending activities with Private Equity funds
Review new business opportunities being presented by the front line, provide early feedback on structure/terms and client selection in the screening process to ensure transactions fit within risk appetite and governance routines
Undertake due diligence of new clients including customer contact
Partner with the front line unit in recommending transactions for risk approval and respond to risk review and challenge.
Undertake the preparation of underwriting materials, manage overall creation and submission of credit approval memos, approve credit memos on behalf of the line of business and secure risk approvals.
Engage partners including other parts of Wholesale Credit, client coverage areas, legal, and market risk as required
Ongoing monitoring of transactions including client and asset portfolio performance, including escalation of any issues; periodic reporting on pipeline, indirect exposures, ratings distribution, etc.; and responding to ad-hoc regulatory and internal reporting requests
Engagement in various other aspects of credit underwriting including development of internal analytics and stress testing, policy and procedures, scorecards, asset quality monitoring, etc.
Support firm wide Wholesale Credit initiatives including adherence with administrative processes and liaise with applicable stakeholders across the firm on emerging topics as needed.
7+ years of experience covering trading and lending activities in a similar role or in a Credit Risk role
BA/BS degree required; Finance or Accounting majors preferred
Strong understanding of Counterparty Credit Risk especially involving FX and Derivatives
Strong knowledge of fund structures and key risks including the abilty to identify and negotiate key covenants and other deal terms
Ability to establish partnerships across the organization (Structuring, Trading, Sales, Risk and support partners) and build effective work groups
Understanding of relevant documentation including ISDA and CSA terms/mechanics
Strong organizational, oral, and written communication skills
Proficiency with Bloomberg, Word, Excel and PowerPoint
Willingness/desire to improve and/or streamline processes
1st shift (United States of America)
Hours Per Week:
Internal Number: 21025422
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.
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