Bank of America Merrill Lynch - Wholesale Credit Analyst??? - Confused
I'm looking to apply for "Wholesale Credit Analyst (financial institutions)" but does anyone have advice on the specific roles of this position? Kinda confused since it says front office...
Wholesale Credit is a front office function that works closely with origination functions such as Corporate banking, Capital markets, and Global Transaction Services both domestically and globally to devise and deliver solutions to customers. Wholesale Credit is specifically responsible for the credit analysis, credit paper preparation and execution of multiple-ranged financial transactions as well as the subsequent monitoring and management of portfolio quality and exposures.
Overview:
• As an analyst within Wholesale Credit you will be supporting senior team members working with both Financial Institutions and Corporate Customers
• Provide analytical and other support for senior team members and confidently interact with
origination (Corporate Banking, Investment Banking, Global Markets, Global Transaction Services,
etc.), risk and other support functions to support balanced portfolio growth
• Analyze customer financial strength, business strategy, market factors, regulatory environment to
assist credit memos and support portfolio management of various Financial Institutions Customers
(Government FIs, Banks, Broker-Dealers, Insurers, Funds and etc.) and Corporate Clients.
• Monitor the financial performance, industry trend and news flow associated with existing and new
relationship
• Develop familiarity with various legal documents – trading documentations, loan agreement, and etc.
• Develop an understanding of internal policy, procedures and regulatory requirements and to ensure
full compliance in all respects
• Maintain close working dialogue with business partners to assist most appropriate financial solutions
to clients
• Develop product knowledge - a wide range of credit products including loans, derivatives, trade
finance, cash management and treasury products
• Be involved in various requests related to internal and external reviews and audits
Interested as well.
You're basically going to underwrite credits (term loans, revolvers etc.). It could be middle market or large corporate. But given that its industry vertical is broken out, I'm thinking it's probably large corporate.
Anyone know a range of salary for this position is?
looking to find out too.
75k base 10k bonus
My guess is that you will be writing credit memos, working with Risk groups and assessing credit worthiness and debt analysis for financial institutions. This includes term loans, credit facilities, acquisition facilities etc (basically large line of credits - using bank balance sheet and not capital markets). But I believe you will mainly be handing out trading facilities or contingency facilities that allow for FI to do hedges as oppose to the other types of credit products (boring). There is also a Corporate Banking Analyst role which is more client facing (attend lenders meetings, direct contact with lenders etc.) and does less of credit writing and more of the financial analysis and client facing stuff.
Salary is probably $70-80k with $20k bonus to start.
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