Credit and Wholesale Banking Summer Analyst Program - 2021

Please note the maximum number of applications that you can submit per recruitment season is 8.
You are only allowed to submit:
- 3 applications in total to U.S. and Canada programs
- 2 applications in total to APAC programs
- 2 applications in total to LATAM programs
- EMEA applicants are limited to 1 application per recruitment season
Once your application has been submitted, you will be unable to apply to any additional EMEA programs.

5630

U.S. and Canada
United States of America
California, Georgia, Illinois, Massachusetts, New York, North Carolina, Oregon, Texas
Atlanta, GA, Boston, Charlotte, NC, Chicago, IL, Dallas, TX, Houston, TX, Los Angeles, CA, New York, NY, Portland, OR, San Francisco, CA
Wholesale Credit Program
Summer internship
Analyst

 

Job Description and Program Overview

The Credit and Wholesale Banking Summer Analyst Program develops future leaders for our Wholesale Credit, Business Banking and Commercial Banking divisions. The internship program allows candidates to gain experience as a credit analyst in one of several business lines of the Wholesale Credit organization including Bank of America Business Capital, Commercial Real Estate Banking Credit, Global Wealth and Investment Management Credit, Global Corporate and Investment Banking Credit, and Commercial Credit. During the summer program, interns in this group will have a variety of opportunities to learn about Bank of America and Global Banking via:

• Executive Speaker Series with leaders across all areas of Wholesale Credit, Commercial Banking and Business Banking

• Day-in-the-Life panels from current analysts

• Web-based courses and training

• Cross-business projects to gain exposure to Commercial Banking and Business Banking

• On-the-job and business-specific training

• Structured performance management process

 

The Credit and Wholesale Banking summer analyst program is designed to offer candidates the opportunity to work within the Wholesale Credit organization. Wholesale Credit partners closely with the front-line banking sales teams across Business Banking Commercial Banking, Corporate and Investment Banking, and Wealth Management Banking to deliver optimal credit solutions to help our clients succeed. The business puts an emphasis on innovation and digital technology to continue to deliver for our clients both locally and internationally.

Summer analyst responsibilities may include:

• Analysing industry, collateral, financial trends of clients in various industries

• Partnering with experienced Credit Officers and Client Managers to evaluate credit risks, formulate the loan structure

• Analysing and updating pertinent data on collateral, financials, projections, covenant compliance, free cash flow, audit and appraisal statistics and bank product exposure

• Spreading financial statements, assessing the client’s compliance with financial covenants and confirming the accuracy of risk ratings or recommending changes as warranted.

• Assisting in the underwriting, credit risk analysis, negotiation, and closing of new transactions or existing transactions.

 

At completion of the summer program, successful candidates will be offered employment in a 24 month credit training program. Upon completion of the full time 24 month training program, analysts will be offered final placement in Wholesale Credit, Business Banking or Commercial Banking.

Wholesale Credit partners closely with the front-line banking sales teams across Business Banking Commercial Banking, Corporate and Investment Banking, and Wealth Management Banking to deliver optimal credit solutions to help our clients succeed

Business Banking serves mid-size U.S. based companies with annual revenues between $5million and $50 million by delivering innovative insights and strategic financial solutions to help companies improve cash flow, invest for the future and grow.

Global Commercial Banking provides treasury, lending, leasing, and advisory services to companies across all major industries. The business brings the full capabilities of the bank to companies with revenues from $5 million to $2 billion.

 

Summer Assignments Include

Commercial Banking Credit

Comprised of two groups (Middle Market Banking and Business Banking) which together serve the $5MM - $2B general industries client segment

Commercial Real Estate Banking Credit

Serves clients in three distinct groups within Commercial Real Estate Banking (CREB):

• Community Development Banking provides debt and tax credit equity for LIHTC (affordable housing) developers,

• Real Estate Corporate Banking provides primarily unsecured financing to Public REITS and Funds, and

• The two Commercial Divisions serves predominantly private middle market investment and development companies

 

Bank of America Business Capital Credit

Provides secured credit facilities and other complementary banking products and services to mid-size and large corporate companies. The typical loan structure combines revolving lines of credit secured by accounts receivables and inventory, and term loans secured by real estate, machinery and equipment. Borrowers include manufacturers, wholesalers, distributors and service companies.

Global Corporate and Investment Banking Credit

Provides credit solutions to large, multinational clients. While the primary products are revolving lines of credit and term loans, the teams also underwrite treasury management and traded products exposures. Borrowers include corporate and financial institutions clients. Credit officers partner with relationship managers, investment bankers, treasury / trading partners, and risk management to underwrite and manage total credit exposure across each

Global Wealth and Investment Management Credit

Provides Merrill and the Private Bank clients with, standard to highly tailored, credit solutions designed to meet their specific liquidity goals and objectives. Standard credit solutions focus on providing liquidity against client’s marketable securities portfolios held at the Bank. Tailored credit solutions (i.e., Structured Lending) focuses on High Net Worth client’s lending needs by accessing their total balance sheet to support lending against a broad array of collateral such as marketable securities, real estate, hedge fund positions, yachts, aircraft, royalty streams; as well as on an unsecured basis for our best and strongest clients.

Qualifications

Candidates are required to be pursuing a Bachelor’s Degree from an accredited college or university with a graduation timeframe between December 2021 and June 2022 (juniors)

  • 3.2 minimum GPA preferred
  • A history of high achievement
  • Interest in relationship management preferred
  • Accounting and finance background a plus
  • Confident and engaging presence
  • Strong attention to detail and ability to notice discrepancies in data
  • Strong understanding of financial statements, ratios and concepts
  • A client-focused mentality
  • Technical skills such as Excel and PowerPoint are advantageous

Bank of America is unable to consider candidates that will require visa sponsorship now, or in the future, for this specific role.

Bank of America does not complete third party forms from colleges, universities, or other parties.

Travel: As needed basis

Full / Part-time: Fulltime

Hours Per Week: 40.00

Shift: 1st Shift


 

Pay and benefits information for the states of California, Colorado, Connecticut, Hawaii, Nevada, New York, Rhode Island and Washington, and for Jersey City, New Jersey.

This Program is closed to applications.