Credit Risk Manager Jobs in San Ramon, CA (NOW HIRING)

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
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.

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
• Position requires knowledge and experience with an affordable housing loan portfolio and tax credit investment product set, especially Low Income Housing Tax Credit investments.
• Position provides credit policy and portfolio management guidance to business partners. Responsible for West Region CDB portfolio and that region's production offices.
• Mandatory components of the position are applying Credit Risk Policy, overseeing portfolio reviews, forecasting regional asset quality performance, studying industry practices, and working with Credit Officer and Underwriter teammates from deal screening through credit approval, legal documentation and closing. Position will also focus on quick resolution of any problem loans/equity investments should issues arise.
• Position will have joint credit approval authority, provide expertise on complex transactions having both debt and equity investment exposures, and ensure all approvals and decisions are consistent with the Bank's Risk Framework.
• Position works directly with the business managers, product and marketing managers, legal, corporate finance, regulatory and executive risk management while managing risks for a multi-state territory.
• Role provides guidance and mentoring to junior associates and will have input for policy content when updating and reviewing policies applicable to Community Development Banking debt and equity products.
• Position requires a bias for action and a commitment to achieving sustainable results.
• Role may require occasional travel for direct client contact or project and market inspections
  

Required Qualifications:

• 10+ years of related experience within a financial institution or at least 5+ years of direct experience with federal tax credit investments
• Must have superior communication and credit skills
• Knowledge of the primary functions of Community Development Banking teams at Bank of America
• Credit analysis and underwriting experience for multifamily housing, including financial accounting principles, loan structuring, and experience with interest rate protection products.
• Technical knowledge and skills pertinent to federal and state tax credit equity investments (especially Low Income Housing Tax Credits and Historic Tax Credits), or prior experience in a risk management role.
• Requires close working relationships with various business partners.

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 details

US - CA - Los Angeles - 333 S HOPE ST - BANK OF AMERICA PLAZA (CA9193), US - CA - San Francisco - 555 California St - Bofa Center - 555 California (CA5705)Pay and benefits informationPay range$137,000.00 - $197,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.