SBA Credit Analyst

POSITION SUMMARY

Analyzes financial information of SBA loan applicants to evaluate and document the repayment ability and the degree of financial risk.  Makes recommendations to the appropriate lending authority.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Conducts an analysis of financial information presented by SBA loan/credit applicants that includes an assessment of liquidity, quality of collateral, quality of management, market position and overall business climate to evaluate and document the financial strength of existing businesses using loan origination and financial analysis software. Identifies and recommends risk ratings.  Analyzes environmental reports to determine if there are environmental concerns on or near the property and mitigates any risks.

• Completes the credit presentation documents in a manner that fully details the member’s credit request and the financial analysis for purposes of credit decisions and ongoing documentation.

• Verify all necessary documents required by the SBA. 

• Maintains a detailed understanding of Magnifi Financial’s credit policy and understands credit policy of other financial institutions; acknowledges policy exceptions with sound reasoning. 

• Comply with SBA guidelines, procedures, and eligibility requirements. 

• For complex relationships, larger loans, and all other requests: Reviews ongoing financial information to identify all potential risks. Based on these reviews the analyst recommends appropriate action, mitigates risks, and discusses action plans.

• Completes credit memos in partnership with lenders, checks for completeness and accuracy of data presented while making recommendations to structure, pricing, and other components required for a successful credit relationship.

• Regularly attends Loan Committee to provide feedback and input on various and complex commercial and ag deals. May create Loan Committee agendas and/or take minutes at meetings.

• Regularly assists SBA Account Executive/SBA Business Development Officer (SBA Lender) by meeting directly with or joining calls with the member/Account Executive.

• Understands all aspects of our credit presentation software and may serve as a subject matter expert.

• May be the subject matter expert in SBA underwriting.

• Completes the quarterly credit presentation and financial analysis of Magnifi Financial’s watch and classified loan relationships.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.  

EDUCATION AND EXPERIENCE

• Bachelor’s degree in Business, Accounting or Finance plus two years credit/financial analysis experience; or equivalent knowledge and skills gained through a minimum of four years related work experience, preferably in a financial institution. SBA experience preferred. 

BENEFITS

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off - starting at 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Health and Wellness Programs *

Pay Transparency:

Salary Range: $61,076/yr. through $91,614/yr.

Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role. 

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere.  As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.

Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.

Salary : $61,076 - $91,614