Product Specialist I/II/III - Proactive Risk Detection (Commercial Credit)

Job description

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: The Product Specialist II performs proactive portfolio monitoring for Business Banking (BB) clients through the Proactive Risk Detection (PRD) process. The associate analyzes client relationships, identifies emerging risks, trends, exceptions and opportunities, and provides recommendations to Credit and Risk partners to support sound portfolio management. The Product Specialist II is expected to deliver timely completion of loan monitoring activities, accurate risk identification, regulatory compliance, and adherence to established credit policies and procedures. In addition, the Product Specialist II is responsible for managing and renewing eligible cash-secured Letters of Credit (LCs) that qualify under the Performance Based Underwriting (PBU) process. This role supports the ongoing monitoring and management of credit risk through credit compliance reviews, risk rating assessments, flood due diligence, and maintenance of data integrity. Conduct relationship reviews and perform ongoing risk monitoring for Business Banking clients through the Proactive Risk Detection (PRD) process. Renew eligible cash-secured Letters of Credit through the Performance Based Underwriting (PBU) process. Monitor client credit compliance and identify exceptions requiring remediation or escalation. Complete risk rating scorecards and maintain accurate risk assessments. Perform flood due diligence reviews and ensure compliance with applicable regulations. Maintain data integrity across credit systems and supporting documentation. Analyze financial, operational, and credit data to proactively identify emerging risks and opportunities. Partner with Business Banking Sales, Credit and Risk teams to resolve exceptions and implement risk mitigation strategies. Ensure timely follow-up and completion of loan monitoring requirements. Support portfolio quality objectives through accurate risk recognition and sound credit practices. Deliver exceptional client and partner support throughout the credit management lifecycle. Maintain compliance with bank policies, procedures, and regulatory requirements. Required Skills: Minimum 18 months of experience in commercial banking, credit administration, underwriting support, risk management, loan servicing, or a related financial services role. Basic understanding of financial statement analysis, credit underwriting, and risk assessment principles. Working knowledge of credit systems, including CreditCenter, Credit Sync, Loan IQ, or similar platforms preferred. Strong analytical, organizational, and problem-solving skills. Ability to manage multiple priorities and work independently in a fast-paced environment. Effective communication and interpersonal skills with the ability to collaborate across business and credit teams. Demonstrated sound judgment, attention to detail, and commitment to quality. Proficiency in Microsoft Office applications, including Excel, Word, and Outlook. Demonstrated ability to adapt to change and continuously develop technical and professional skills. Core Competencies: Credit & Risk Assessment Credit Documentation & Compliance Portfolio Monitoring Risk Identification & Mitigation Financial Analysis Customer & Client Focus Data Management & Reporting Attention to Detail Business Acumen Problem Solving & Decision Making Collaboration & Relationship Management Prioritization & Time Management Oral & Written Communication Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent. Bachelor's degree in Business Administration, Finance, Accounting, Economics, or a related field required preferred. Shift: 1st shift (United States of America) Hours Per Week: 40 Pay Transparency details US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110) Pay and benefits information Pay range $74,000.00 - $115,000.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible This 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. Benefits This 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.