Bank of America Consumer Real Estate business helps families realize the dream of home ownership, save money on the home they already own or make needed home improvements or other important purchases with home equity loans or lines of credit.
As part of our ongoing efforts to develop our future leadership, Consumer Real Estate has positions available in multiple locations for business managers and operations managers; and in Charlotte, North Carolina for strategic initiatives consultants, trading analyst and pricing business support lead.
Available position: Business manager
Business segment: Fulfillment
Locations: Multiple locations
Qualifications
- Master's degree in a business or quantitative field and strong academic credentials
- Three to five years work experience with a demonstrated record of achievement
- Previous real estate or mortgage with fulfillment processes in underwriting and loan processing experience preferred
- Strong leadership skills and the ability to communicate with all levels of the organization
- Experience leading cross-functional project teams
- Excellent verbal and written communication
- Ability to work independently to meet project deadlines and deliver quality work
- A team player who has the ability to partner with employees throughout the company
Key responsibilities
The Fulfillment organization within Consumer Real Estate is primarily responsible for the underwriting, processing, vendor management, document preparation and closing for loans generated in all Consumer Real Estate sales channels, and for forwarding completed loan files to the Consumer Real Estate servicing organization for post-closing service, account maintenance and continued relationship deepening.
- Manages a team including, associate recruiting, development, performance and retention as defined by the scorecard measures
- Responsible for executing processes designed to achieve the business strategy and world-class customer service
- Monitors performance trends and makes suggestions to the process owner to improve efficiency and customer service
- Creates specific action plans to drive consistent performance across all teams
- Responsible for the integrity of processes designed to achieve quality and productivity standard
Available position: Operations manager
Business segment: Fulfillment
Locations: Multiple locations
Qualifications
- Master's degree in a business or quantitative field and strong academic credentials
- Three to five years work experience with a demonstrated record of achievement
- Excellent people, communication and organizational skills; ability to lead through change; balance tactical and strategic; banking center, retail or direct mortgage experience, as well as industry knowledge would be helpful
- Strong leadership and implementation skills; ability to lead a diverse matrix associate population, inspire a strong sense of camaraderie, accountability and motivate continuous improvements to performance
- Experience leading cross-functional project teams and the ability to work independently to meet project deadlines
- Ability to lead change and integrate work across delivery channels and customer segments in a fast-paced, highly matrixed environment, establish priorities and achieve measurable results
Key responsibilities
The operations manager is responsible managing operational components impacting a fulfillment channel. This position reports to the production executive and partners with site leadership in the channel to analyze data, ensure its accuracy and present solutions to enable quick decision-making and determine predictive impact of the selected solution.
- Manage, analyze, and integrate operational components to provide solutions and present options for decision making to occur in the channel: capacity and forecast model and planning, financial plan and forecast, review site performance and identify trends and areas of opportunity
- Primary point of interface for change management when project initiatives impact the Loan Center
- Lead a small team responsible for delivering solution options with accurate data and analysis to speed decision-making and move ahead of the competition; provide leadership and direction to determine the predictive impact of each solution and gauge the lift of the organizational metrics
- Support the migration of the organization from a production culture to one that balances customer and associate satisfaction, shareholder value and productivity
- Support a collaborative environment that recognizes individual skill-sets, fosters cross-functional initiatives and addresses developmental needs; top grade talent at all levels within the regions
- Identify best practices and use management by fact methodologies; utilize business performance reporting to execute against goals
- Utilize Six Sigma tools in data analysis and decision-making
- Identifies systems/technology gaps and issues and communicate those to the Consumer Real Estate Fulfillment Leadership team
- Travel required
To be considered for the trading analyst/junior trader and pricing business support lead, candidates must have:
- Master's degree with a concentration in Business Administration, Finance, Financial Engineering or a related field
- One to five years work experience with a demonstrated record of achievement
- Strong quantitative skills with an emphasis in statistics and calculus
- Ability to work well in a team, in very close proximity and under pressure
Available position: Trading analyst/junior trader
Business segment: Secondary Marketing
Location: Charlotte, NC
Secondary Marketing's role at Bank of America in Consumer Real Estate is to maintain the equilibrium of competitive loan pricing and efficient back-end market execution to ensure goals are met. That requires a complete understanding of regional mortgage loan pricing markets and competitive pricing in concert with a full understanding of various investor markets and demands. Secondary has three roles: price loans, manage risk and sell product. The three functions are inseparable and come together to ensure that the expected returns are provided to the Consumer Real Estate Business.
Consumer Real Estate's Secondary MarketingTrading & Risk Management is reponsible for all trading and risk management related to Bank of America's mortgages origination pipeline. The trading analyst/junior trader will be responsible for providing analytic support to senior traders, monitoring risk reports for accuracy, and executing certain trades. Given the "option-like" nature of the pipeline, candidates must have strong quantitiative skills along with an aptitude for valuation and modeling of various deriviatives (ideally with an emphasis on mortgages and mortgage derivatives). A background in securitizations is also desirable.
In addition to the previously listed requirements, candidates must have:
- Strong technical skills including advanced spreadsheet modeling and databases (SQL preferred)
- Intellectual curiosity and a genuine interest in learning highly specialized, mortgage-related trading skills
Key responsibilities
- Provide any necessary quantitative and reporting support needed by senior traders
- Ensure accuracy of daily risk reports and resolve discrepancies
- Assist with daily compliance, P&L, and hedge effectiveness reporting
- Execute certain trades (under direction of senior traders) including routine hedging
- Assist with monthly loan sale optimization (done through conforming and non-conforming securitizations)
Available position: Pricing business support lead
Business segment: Secondary Marketing
Location: Charlotte, NC
In addition to the previously listed requirements, candidates must have:
- Strong relationship building skills
- Excellent written and verbal communication skills
- Ability to work well in a team, in very close proximity and under pressure
- Good project management skills
Key responsibilities
- Provide any necessary reporting support needed by pricing team
- Ensure on time delivery and accuracy of mortgage and consumer pricing
- Assist with coordination and implementation of product and process initiatives within Secondary Marketing
- Research impacts of new products and processes and/or changes to existing products and processes
- Actively participate in project meetings that impact Secondary Marketing
- Ensure that all pricing systems are up to date and accurate
Training
Given the highly specialized nature of mortgages and mortgage hedging/trading, training is limited to on-the-job, self-study and limited classroom. Candidates should expect to spend considerable personal time reading and asking questions.
Available position: Strategic initiatives consultant
Business segment: Strategic Initiatives
Location: Charlotte, NC
Consumer Real Estate's Strategic Initiatives team is responsible for influencing the development and execution of Consumer Real Estate's (CRE) business strategy, which is comprised of three primary components: "Reinventing the Experience", "Leveraging Our Strengths" and "Deepening Relationships".
The team is influential in identifying business synergies and key operational improvement opportunities that drive the required financial performance while delivering advantaged, customer valued solutions. You will help business leaders and their supporting staff understand key links between goals and how their work supports larger strategic objectives.
Candidates must have:
- Master's degree with a concentration in Business Administration, Finance, Engineering or a related field
- Five + years of experience that ideally includes significant exposure to strategy, business development, due diligence and other business drivers
- Proven organizational skills and an ability to manage in a highly complex matrix environment
- Excellent oral and written communication skills with a demonstrated ability to effectively deliver a wide range of presentations to all audiences
- Proven ability to create appropriate metrics in order to track progress and demonstrate success
- Strong relationship building skills to establish and maintain a full partnership with the business unit management teams through an understanding of their needs and issues; Ability to both lead and participate in team decisions that shape the business
Key responsibilities
- Develop and coordinate Consumer Real Estate planning activities, including strategic, growth, diversification, and financial plans
- Develop and present insightful business cases/analyses and provide constructive and timely information that allows leadership to make business decisions; Provide detailed analysis of current state; Develop assessment tools and analyze effectiveness
- Develop and manage overall budgets, resources, schedules, and performance standards for the initiatives they lead
- Perform complex evaluations to identify prospective merger, acquisition or divestiture targets. Inform and advise senior management on possible mergers, acquisitions and divestitures
- Interacts with senior executives of Bank of America and external companies
- Manage processes that enable key strategic business decisions to be made, including the development of major financial proposals
Training
Training in Consumer Real Estate combines classroom, self-study and on the job exposure for a well-rounded program. Bank of America and Consumer Real Estate are committed to developing its associates.
