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
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