Commercial Credit Analyst
Less than 5 years experience • Financial Services
Commercial Credit Analyst (MA #2580)
A growing $500 Million asset Middle-Market Bank with locations throughout the South Shore of Massachusetts is seeking an experienced commercial lending professional. Having been a staple of the South Shore community since the late 1800’s, they have developed a history of community focused banking.
The primary function of the Commercial Credit Analyst is to prepare objective, written credit analyses including assigning accurate risk ratings for new loans, or for the renewal of existing facilities, as requested by account officers or required by policy.
This position analyzes financial statements, collateral, debt service, personal financial statements and cash flow. Also will prepare loan synopsis, incorporating pertinent appraisal information, summarizing risks and mitigating factors, as applicable and appropriate to the size and complexity of the transaction.
Key Duties, Activities and Responsibilities:
- Underwriting commercial loans including LOC’s, mortgages-both owner occupied and commercial real estate, term loans and leases.
- Evaluate consumer/dealer loans and recommend approval or decline.
- Assist commercial lenders with underwriting LOC renewals, as needed.
- Analyze/Spread business and personal financial statements and tax returns
- Process requests for advances and account transfers, when necessary.
- Effectively communicate with appraisers to order appraisal reports and track appraisals ordered.
- Preparing term sheets and commitment letters as needed.
- Attending loan committee on a regular basis as a non-voting member and taking the minutes of the meeting.
- Assisting the CLO in the loan origination process by prescreening and evaluating loan packages.
- Attend customer meetings with the lenders (as requested).
- Attend loan closings as required.
- Communicate with outside parties, such as attorneys and accountants, when necessary.
- Ordering credit reports, Flood Certifications, EDR reports, and more detailed Phase 1
- Environmental reports, when necessary (as backup).
- Provide support for the Loan Operations Department as emergency backup, when necessary.
- Other duties, as assigned
Work Experience, Skills and EducationRequired:
The work environment is representative and typical of similar jobs in comparable organizations.
- BS or BA degreefinance or related area normally required
- 2-5 years’ experience in commercial underwriting
- Experience should include successful completion of a formalized credit-training
- Some experience related to the underwriting of loans using the SBA 7A, Express and 504 loan programs, as well as the USDA B&I program preferred.
- Thorough knowledge of non-borrowing products.
- Strong underwriting skills handling moderate to complex credits
- Expert knowledge and understanding in how to identify and process maturing loans, line renewals, term loans that need to be extended, how loans can be restructured, approval process, change terms, etc.
- Specialized credit education and training
- Excellent communication skills (verbal & written)
- Ability to interpret policies/procedures, loancontracts, and understanding of credit reports, financial statements and loan documents
- Strong analytical skills
- Ability to be self-starter, show initiative, and transfer knowledge to less experienced peers
- Knowledge of commercial lending software