Approval Officer III - Small Business Lending


Job Title: Approval Officer III - Small Business Lending
Bank of America – Chicago, IL

Job Description:

Position Description & Responsibilities:

The Small Business Lines and Loans team is part of the Client Underwriting and Protection organization.

The primary focus of our team is to underwrite and decision Small Business loans, of various types to a variety of industries. Our business partners include Small Business Banking, Small Business Client Management, Risk Management and Credit Management and Administration.

Key priorities for our team are effective risk management;

Growing the portfolio in a sustainable way; systems enhancements;

Strong partnership with our sales teams.

The team is composed of approximately 100 employees located primarily in St. Louis, Tampa, Waltham, and Troy.

The teammate in this role is responsible for underwriting and decisioning Small Business loans, ranging in size from $250M to $2MM, complying with all bank policies, procedures, and regulations, interacting with Small Business Bankers, Client Managers, colleagues and clients, both in writing and over the phone, performing well on the various metrics by which the role is measured.

As part of the responsibilities of the role, the teammate will develop business partner relationships with Small Business Banking, Small Business Client Management, Credit Fulfillment and Credit Management and Administration.

The AO is responsible for underwriting and structuring of straightforward and complex credit transactions with minimal oversight from the CPAM/CPTL.

The AO is able to underwrite complex credit transactions with minimal oversight and also approves credit transactions with minimal coaching from the CPTL/CPAM, considering their credit approval authority limits and utilizing independent judgment and discretion to approve loans.

They deliver financial, industry, economic and other analysis used to recommend and approve loans.

The AOs exercise their own single signature loan authority while also ensuring adherence to credit policies, guidelines, and applicable regulatory requirements.

The AO will be called on to take on customer facing responsibilities in obtaining background and financial information, articulating the bank's position and negotiating more complex relationships.

The AOs provide ongoing coaching and support to their sales partners and other Credit Products team members.

They report to the Credit Products Approval Manager (CPAM) or Credit Products Team Leader (CPTL).

Required Skills and Experience

Must have Commercial/Small Business lending experience

5+ years of experience in financial analysis, structuring, underwriting and portfolio management

Familiarity with banking regulations

Time management skills

Strong communication (both oral and written) and partnering skill

Ability to work on transactions without close supervision

Ability to evaluate business and personal cash flow

Prior experience in a high volume production environment

Desired Skills and Experience

Strong analytical/technical skills, including financial
accounting, modeling and loan structuring

Proficient with PC applications including Microsoft office (Excel and Word);

BS/BA degree
Shift: 1st shift (United States of America)

Hours Per Week: 40

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