Credit Strategy Consultant

Credit Strategy Consultant

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Duties:

The duties of a Credit Strategy Consultant include assessing clients' credit situations, recommending strategies for improvement, and monitoring progress towards financial goals

In your role as a Credit Strategy Consultant, your core responsibility will be to originate loans for clients in need of residential mortgages, serving as the primary expert in lending services within the financial center. You will engage with clients face-to-face and through phone interactions to offer a range of lending products that include First Mortgages, Home Equity Lines of Credit (HELOCs), Car Loans, Credit Card options, and essential banking products. Your contribution is essential in establishing and enhancing client relationships, while also effectively managing sales performance, operational risks, and ensuring a positive overall client experience.

Critical Functions:

• Provide tailored advice to customers by guiding them through a full range of borrowing and banking products, customized to meet the unique financial needs of each stage in their life plan.
• Generate loan packages for residential mortgage customers, encompassing Initial Home Loans and Home Equity Lines of Credit. In addition, advertise a mix of banking products like Vehicle Financing, Credit Facilities, and Core Financial services.
• Analyze the financial necessities of clients and employ your banking and lending product knowledge to propose recommendations that are the best fit for their objectives.
• Inspect and review a range of home finance products, helping customers with the mortgage application process by compiling vital documentation and keeping them up-to-date at all phases of the process.
• Communicate with clients through outreach campaigns and pipeline supervision actions, maintaining consistent follow-up protocols to address client requirements and enhance long-standing relationships.
• Respond to client concerns, offer regular progress updates, and connect clients with the appropriate internal experts based on their unique financial needs.
• Collaborate closely with financial center leaders, performance managers, and market leaders to provide targeted advice and coaching to associates, with a focus on delivering exceptional client experiences.
• Minimize operational risk by ensuring that loan applications and procedures meet the necessary regulatory and company policy standards.
• Utilize tools for managing client relationships to keep tabs on sales performance, customer interactions, and follow-up actions.
• The background check and ongoing registration maintenance required by the SAFE Act are imperative obligations for employees in this role.

Required Qualifications:

• An essential requirement is a background in mortgage origination spanning at least two years. In cases where this criterion is not met, candidates who have served as Home Service Specialist II, Lending Client Associate, Lending Client Support Manager, Lending Specialist, Senior Banker, Business Solutions Advisor, or Financial Solutions Advisor at Bank of America for a year are deemed suitable for the role
• Being informed about the requirements for credit and home loan applications is significant
• Actively seeks to comprehend the client's needs and goals by listening carefully and engaging with them in a proactive manner.
• Displays competence in professional communication by effectively engaging with clients in a confident and comfortable manner, demonstrating proficiency both in face-to-face interactions and over the phone.
• A person with the capacity for critical thinking can evaluate financial and credit information to advise clients on product/pricing policies and guidelines and gather any additional required details.
• Shows mastery in customer service skills and can effectively navigate the full spectrum of client interactions and issue resolution.
• Strong aptitude in effectively presenting thoughts through writing and speaking.
• Capacity to cope with uncertainty and embrace adaptability in dynamic environments.
• Enthusiastic, diligent, proactive, and outcome-centered; emphasizes a keen interest in delivering results.
• Willing to be flexible with hours, including weekends and extended shifts if need be.
• An individual who demonstrates a commitment to collaboration and unity, leveraging knowledge and background to establish solid and positive relationships both inside and outside the team.
• Competence in understanding and adapting to technological changes.
• Illustrates a strong commitment to professional ethics by thoughtfully integrating relevant regulatory due diligence and adhering to Federal and State compliance protocols.

Desired Qualifications:

• Experience in a financial setting where targets were consistently met or surpassed.
• Competence in analyzing and understanding intricate financial data in order to present various financial choices.
• Knowing the different banking options and features accessible to clients.
• The talent for managing time efficiently and organizing, prioritizing, and executing multiple tasks concurrently.
• Direct exposure to loan origination within a retail space and comprehensive knowledge of Mortgage Products, encompassing Conventional, Jumbo, HELOC, and Government offerings
• The process of arranging, managing, scrutinizing, and completing transactions
• Government-mandated rules that dictate how lending for real estate transactions should be carried out
• Regulations from FHA and HUD serve as a framework for ensuring compliance and quality in the housing sector
• Varied Loan Options (Credit Cards, Vehicle Financing)
• Demonstrated competency in MS applications and hands-on experience with laptop technology.

Skills:

• Client Management
• Client Solutions Advisory
• The central focus should always be on catering to the requirements and preferences of customers and clients
• Referral Identification
• Risk Management
• Client Experience Branding
• Credit Documentation Requirements
• Credit and risk assessment involve a thorough examination of financial history and potential risk factors
• Pipeline Management
• Referral Management
• Attention to Detail
• Collaboration
• Issue Management
• Prospecting
• Relationship Building

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