SAG Portfolio Officer

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 directly managing a high-risk/criticized or distressed commercial loan portfolio. Key responsibilities include developing, negotiating, and implementing resolution strategies focused on reducing the volatility and severity of losses. Job expectations include adherence to all bank policies and regulatory requirements, proactive identification, and mitigation of risks within the portfolio, and maintaining a high-level of integrity and ethical standards throughout all interactions.

The Special Asset Group (SAG) manages the Bank’s criticized, classified, and distressed commercial credit portfolio. SAG's primary objective is to maximize recoveries, minimize loss severity, and execute effective resolution strategies that protect the Bank's interests while preserving long-term enterprise value where appropriate.

The SAG Portfolio Officer is responsible for the management and resolution of an assigned Business Banking portfolio of criticized, classified, and distressed commercial credit relationships. The Portfolio Officer develops and executes resolution strategies designed to maximize recoveries, minimize losses, and protect the Bank's interests. This role serves as the primary relationship manager for assigned credits and works closely with internal and external stakeholders to evaluate strategic alternatives, negotiate solutions, and drive resolution outcomes.

Responsibilities:

• Develops, negotiates, and implements comprehensive resolution strategies
• Oversees and manages adversarial collection actions such as litigation, foreclosures, bankruptcies, and receiverships
• Ensures compliance with bank policies and regulatory standards
• Monitors the asset quality of the portfolio through thorough analysis and assessment, making necessary adjustments based on market conditions and loan performance
• Presents in the periodic portfolio review meetings providing updates on the clients within their portfolios
• Establishes and maintain collaborative partnerships with internal and external stakeholders
• Manage an assigned Business Banking portfolio of criticized, classified, and distressed commercial credit relationships from strategy development through final resolution.
• Evaluate borrower performance, repayment capacity, collateral values, industry dynamics, and legal considerations to determine the most effective path to resolution.
• Serve as the primary point of contact for borrowers, sponsors, advisors, attorneys, lending partners, and other stakeholders associated with assigned relationships.
• Lead negotiations involving loan modifications, restructurings, forbearance agreements, settlements, asset sales, and other resolution alternatives.
• Prepare and present strategy recommendations, credit approvals, and portfolio updates to SAG leadership and risk management partners.
• Analyze and assign internal risk ratings consistent with applicable policies, procedures, and regulatory expectations.
• Manage legal and enforcement actions, including litigation, foreclosure, bankruptcy, receivership, and other recovery-related proceedings, as appropriate.
• Monitor portfolio performance, asset quality metrics, and recovery trends to support forecasting, reporting, and risk management objectives.
• Ensure compliance with internal credit policies, regulatory requirements, and governance standards.

Required Qualifications:

• 3+ years of experience in commercial banking, credit underwriting, portfolio management, workout, restructuring, special assets, or a related fields.
• Strong knowledge of commercial lending, credit analysis, loan documentation, collateral analysis, and commercial credit structures.
• Experience managing or analyzing criticized, classified, or distressed commercial credit relationships.
• Demonstrated ability to develop and evaluate workout, restructuring, liquidation, and repayment strategies.
• Strong financial statement analysis skills, including cash flow, liquidity, collateral, and repayment capacity assessment.

Desired Qualifications:

• Experience leading negotiations involving restructurings, forbearance agreements, settlements, liquidations, bankruptcy proceedings, or other credit resolution matters.
• Knowledge of bankruptcy law, creditor rights, foreclosure processes, and commercial loan enforcement remedies.
• Familiarity with treasury management products, commercial card products, deposits, derivatives, and other ancillary banking products.
• Strong working knowledge of credit policy, risk assessment, and regulatory requirements applicable to commercial lending.
• Experience coaching and developing analysts while serving as a resource on complex credit matters.

Skills:

• Adaptability
• Collection Management
• Critical Thinking
• Problem Solving
• Risk Management
• Credit and Risk Assessment
• Decision Making
• Financial Analysis
• Legal Structures and Legal Forms
• Underwriting
• Client Management
• Loan Structuring
• Negotiation
• Oral Communications
• Written Communications

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

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$98,900.00 - $119,300.00 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.