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- Chicago, IL 60603
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Business Banking Equipment Finance - Credit Manager
Bank of America • Chicago, IL
Posted 1 month ago
Banc of America Leasing is the largest U.S. equipment financing company, serving over 51,000 clients worldwide. We have $62.7 billion in total assets, and have a significant global presence, with over 900 associates. Together with our affiliated companies*, we provide equipment financing solutions to small businesses, middle-market and large corporations, offering product expertise in government financing and wholesale vendor financing, as well as tailored programs specific to industry segments, including aviation, healthcare, energy services and renewable energy.
*Certain products are offered through Banc of America Public Capital Corp, a wholly-owned subsidiary of Bank of America N.A.
Bank of America Merrill Lynch (BofAML) is one of the world’s largest financial institutions, serving corporations, governments, institutions and individuals with a full range of banking, investing, asset management and other financial and risk management products and services through operations in more than 35 countries. The bank’s Global Corporate & Investment Banking (GCIB) line of business provides clients around the world and across all major industries with solutions for Treasury services, lending, leasing, advisory and debt and equity underwriting.
Banc of America Leasing (BAL), a part of GCIB, is the largest U.S. equipment financing company, serving nearly 51,000 clients worldwide. Together with our affiliated companies we provide customized financing solutions that address the capital raising and equipment financing needs of businesses worldwide. We offer industry leadership, capital strength and specialized expertise to small businesses, middle-market and large corporations, offering product expertise in government financing and wholesale vendor financing, as well as tailored programs specific to industry segments, including aviation, healthcare, energy services and renewable energy.
We are looking for a seasoned credit professional who is experienced in supporting commercial equipment financing. The individual will be responsible for managing a team of credit professionals supporting the Business Banking Equipment Finance platform. Work closely with the deal teams, new business originators, BofAML colleagues within Bank Credit Risk, Risk Management, Leasing and Bank Credit Managers and Leasing Senior Management.
Manage the evaluation and underwriting of new commercial equipment financing opportunities, including the identification and assessment of all strengths, weaknesses and risks (including credit risk, market risk, and operational risk) associated with the opportunity as well as identifying and describing mitigating factors.
The individual will be responsible for managing the evaluation, review and written analysis of all factors that affect the client’s ability to repay and/or service its obligations on time. The complexity of the clients and related transactions requiring analysis can vary over a wide spectrum.
The individual will use his/her skill set to assess the appropriateness of existing solutions and to propose optimal financing alternatives or additional financing solutions. They are involved in managing asset quality and the approval process through their interaction with the Credit team, Risk Management Officers, Marketing Officers and senior Credit Managers. The ability to manage others, collaborate with partners, efficiently multi-task, and be decisive are important keys to success.
Undergraduate degree in finance or accounting preferred; MBA preferred.
Prior Work Experience:
10+ year’s progressive experience in the leasing industry, in a credit underwriting and structuring role; 3+ years of management experience
- Leadership – ability to motivate and influence team and business partners
- Recognized as a highly experienced and thought leader in the structuring and delivery of complex solutions
- Proven experience in leadership, decision making, coaching, effective partnering
- Experience managing a team of credit professionals; proven management skills
- Seasoned manager with extensive relevant business experience, skill and product knowledge coupled with superior credit skills
- Knowledge of equipment financing from a credit underwriting perspective
- Excellent credit and risk analysis skills – ability to identify trends and risks in portfolio and in underwriting and client selection
- Excellent presentation, structuring, and financial statement analysis skills
- Review and revise internal credit and risk management policies and procedures
- Problem solving/Risk Mitigation
- Attention to detail
- Clear and articulate oral and written communication skills
- Strong computer skills
- Strong organizational skills
- Team player
- Results oriented, is able to accomplish objectives in a specified timeframe
- Travel – 20%
- Location – Chicago or Hunt Valley, MD
Shift:1st shift (United States of America)
Hours Per Week:40