Enterprise Credit Summer Analyst Program - 2024

Company: Bank of America
Location: Boston
Posted on: September 20, 2023

Job Description:

What you'll doEnterprise Credit Summer Analyst Program - 2024Enterprise Credit overviewThe Enterprise Credit organization is an integrated credit underwriting, monitoring and product management organization managing credit for clients in the bank ' s eight lines of business including, consumers, companies and institutions. To deliver seamlessly for our clients, the Enterprise Credit team works with a large array of partners in Global Risk, Global Operations, Global Banking and Consumer & Small Business Banking. Enterprise Credit summer analyst (internship) programThe Enterprise Credit Summer Analyst Program is a 10-week internship that provides you insight and broad exposure into our credit underwriting, monitoring, business controls and data management routines. You will be involved in live client requests and have an opportunity to see the end-to-end credit process. Summer analysts participate in a variety of activities designed to foster teamwork, encourage networking, and engage with senior leadership. Our goal is for you to have the opportunity to build upon your academic foundation specifically technical skills, industry knowledge and familiarity with a corporate environment while pursuing your career, based on your interests and background. Your training and development is our top priority, with extensive formal training offered at the start of the program and on-the-job support, events, and mentorship throughout. These opportunities include but are not limited to:

• Trainings focused on Mechanics of a Bank, Data Literacy, Executive Ready Presentations and more
• Credit training including an introduction to underwriting credit for consumers and companies
• Mentorship program
• Executives' speaker series to gain a better understanding of Enterprise Credit
• Diversity & Inclusion Employee Networks LEAD for Women, Black Professional Group, LGBT+ Pride, and more
• Networking events including community service opportunitiesWhat to expect day to dayOver the ten-week experience, you will participate in a variety of day-to-day activities depending on the credit portfolio to which you are aligned. You will be paired with a senior team of credit professionals and may work with different types of clients including consumer, companies, and institutions or in business controls/data management, looking across the portfolio of clients. Potential activities include:
  • Analysis of client financial information, identification/mitigation of potential risks, compliance with regulatory requirements and evaluation of collateral to determination of credit worthiness
  • Participate in loan structure conversations and completion of loan documentation
  • Complete monitoring activities
  • Review and evaluate collateral to ensure appropriate requirements are met
  • Analyze clients' financial performance by comparing it to past performance
  • Complete cash-flow analysis to understand the client ' s ability to repay
  • Attend client meetings to develop a deeper understanding of the client's business, management team, and past and future performance
  • Review completed client requests to ensure compliance with policy and procedures and assess if business controls are appropriate
  • Participate in the end-to-end data management process to understand how credit data is used internally and provided to regulatory partners Enterprise Credit placement opportunitiesCredit for consumers:Candidates for this credit portfolio need a strong understanding of accounting principles to evaluate personal financial statements. The teams supporting credit for consumer clients are structured by product groups:
    • Mortgage loans Support clients with their home purchase or refinancing needs
    • Home Equity line/loans Support clients with using the equity in their home to meet their needs
    • Vehicle financing Support clients with a vehicle purchase or refinancing needs
    • Credit cards Support clients with an array of credit card products to meet their needs Credit for companies/institutions:Candidates for this credit portfolio need a strong understanding of corporate finance and accounting principles to evaluate company financials. The teams supporting credit for companies are structured by client size and product specialty groups:
      • GCB & BB Credit Provide credit to U.S. middle-market companies with revenues between $5 million and $2 billion
      • Bank of America Business Capital (BABC) Support clients with asset-based lending and dealer financing needs (i.e. car dealership floorplan financing)
      • Commercial Real Estate Credit Support clients with commercial real estate lending needs. This team also includes our Community Development Banking team with opportunities to provide financing for community improvement and development activities
      • Global Corporate & Investment Banking Credit Provide credit to large corporate clients, middle market firms and emerging growth companies worldwide. This team includes several industry sectors and our Leasing, Leveraged Finance and Renewable Energy focused teams
      • Global Markets Credit Provide credit to support institutional investors with managing products such as debt, equity, commodities and foreign exchanges Business Controls & Data Management:Candidates for these opportunities need an understanding of corporate finance and accounting principles, data analytic programs and/or process optimization. The teams support our end-to-end credit product management including:
        • Enterprise Credit Analytics & Transformation Strategy Provide data management and technology transformation for the credit teams. Data management includes internal and regulatory reporting while also partnering with the technology transformation team to ensure data and appropriate controls are built into credit systems to drive transparency and support digitization.
        • Enterprise Credit Chief Operating Office (COO) Support the credit teams through business controls. Review credit documents to ensure regulatory, policy and procedure requirements are met. Identify opportunities to prevent errors and streamline processes. Manage policies and procedures to support our end-to-end credit process. For more information on our eight-lines of business, please refer to the annual report. Program LocationsAtlanta, Boston, Charlotte, Chicago, Dallas, Houston, Los Angeles, New York, Phoenix, San FranciscoQualifications
          • Candidates are required to be pursuing a Bachelor's Degree from an accredited college or university with a graduation timeframe between December 2024 and June 2025
          • 3.2 minimum GPA preferred - A history of high achievement
          • Common areas of study include but are not limited to: Corporate Finance, Business Administration, Accounting, Information Systems, or Economics
          • Candidates should possess a high level of intellectual curiosity, a drive for operational excellence, and a commitment to achieving sustainable results. Additionally, students should hold strong academic and technical skills in Microsoft Office as well as show proficiencies in leadership, teamwork, problem solving & analytical skills, verbal and written communication, and professionalism.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. Full / Part-time: Fulltime Hours Per Week: 40.00 Shift: 1st Shift

Keywords: Bank of America, Boston , Enterprise Credit Summer Analyst Program - 2024, Accounting, Auditing , Boston, Massachusetts