Credit Risk Executive- Commercial Real Estate

Dallas, TX, United States

Credit Risk Executive- Commercial Real Estate page is loaded Credit Risk Executive- Commercial Real Estate Apply locations Dallas Chicago Charlotte time type Full time posted on Posted 2 Days Ago job requisition id 24017644 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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:

This job is responsible for ensuring the Bank’s compliance with commercial real estate (CRE) focused laws, rules, regulations and guidance (LRRG).

Key responsibilities include managing the CRE Risk Assessment, maintaining and developing CRE credit policies (Policy) for the Commercial Real Estate Banking (CREB) and Real Estate Structured Finance (RESF) business units (BU), assisting in the preparation of the annual Commercial Real Estate Policy and Limits Board memo, limit management, and other related activities.  Job expectations include having or developing detailed knowledge of CRE regulatory requirements and providing expertise on CRE Policy interpretations to BU and support partners.

Significant interaction with the CRE Risk Executive, CRE Enterprise Credit Executive, Head of Commercial Real Estate Banking and other line of business (LOB) senior leaders should be expected.

Responsibilities:

Manages the CRE Risk Assessment, including its annual refresh and any required updates due to new or revised regulatory publications. Understands the difference between Laws, Rules and Regulations (LRR), and Guidance (G) requirements, determines which requirements are Credit Risk, identifies policies and procedures that support Credit Risk requirements, assigns appropriate Inherent Compliance Risk classifications, and identifies and monitors controls for all LRR and some G requirements Identifies and closes any gaps between LRRG and CRE Policies.

Must be able to work within different areas of Enterprise Credit Risk and across multiple LOBs .Maintains CREB and RESF Policies through the biennial scheduled review process, processing ad hoc updates when needed, and developing new Policies to close identified gaps or support new business initiatives Chairs the CREB and RESF Credit Policy Councils (Council), whose primary purpose is to approve the scheduled review of Policies, revisions to Policy and any new Policies developed for CREB or RESF. Prepares agendas, works with the Council secretary to schedule meetings, obtains approval of Council meeting notes, uploads materials to the CREB and RESF Risk Governance sites, and maintains the Council charters. Prepares monthly policy change reporting Participates in the review of CRE-focused Core Credit Policies .Will play a leading role in any future development of CRE-focused climate change policies

-Represents CRE Credit Risk on ECR’s Risk Policy Roundtable (Roundtable), CREB’s Policy and Procedures Council, and GCB’s Policy and Procedures Council. Occasionally presents CRE Policies up for discussion at Roundtable and at Commercial Credit Risk Policy Council (CCRPC)

-Supports Risk Governance in the ongoing maintenance of the Enterprise Credit, RESF and CDB approval grids. Ensures the timely updates to the CREB, RESF and CDB Delegated Authorities Worksheets

-Partners with CRE Enterprise Credit to manage the Risk ID process and the upkeep of the CRE Industry Risk Guidance document, including updates to the CRE “Climate Risk Assessment” section

-Manages CRE Credit Risk Self-identified and Risk Identified Audit issues (SIAI, RIAI) and any CRE Credit Risk regulatory issues

-Assists the CRE Credit Risk Business Support Risk Management Executive in the drive towards Operational Excellence

Other related activities include:

industry governance routines, ii) episodic events requiring urgent attention, iii) Credit Review, Regulatory and Executive Management driven requests and meetings, iv) risk rating scorecard updates, v) coaching, assisting, and training less experienced associates, and vi) process/efficiency improvement and quality assurance initiatives

Required

Candidates must be experienced and qualified credit or risk professionals

10+ years of commercial lending experience, preferably commercial real estate, including underwriting and/or approval of credit exposures

Strong partnering skills with ability to navigate across teams, eliminate roadblocks, drive consensus to achieve resolution, and ensure successful execution

Able to develop and maintain strategic business relationships

Strong interpersonal, written and verbal communication skills

Extensive knowledge of credit policies and procedures

Strong leadership skills necessary to implement change and resolve issues/conflicts in a balanced and professional manner

Skills:

Credit and Risk Assessment

Critical Thinking

Executive Presence

Organizational Effectiveness

Regulatory Compliance

Business Intelligence

Decision Making

Inclusive Leadership

Stakeholder Management

Influence

Innovative thinking

Shift:

1st shift (United States of America) Hours Per Week:

40

About Us Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:

1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications.

2. Think about why you can do the job and make a list of your skills that are relative to the job.

3. Identify experiences or accomplishments that show your proficiency in the skills required for the job.

4. Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume

• Do be brief. Resumes should be 1-2 pages in length.

• Do be upbeat and active in your wording.

• Do emphasize what you have done clearly and concretely.

• Do be neat and well organized.

• Do have others proofread and critique your resume. Spell check. Make it error free.

• Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.

• Don't be dishonest, always tell the truth about yourself in the most flattering light.

• Don't include salary history or requirements.

• Don't include references.

• Don't include accomplishments that do not support your professional goals.

• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)

• Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview

1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?

2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?

3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.

4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.

5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.

6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.

7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.

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