What are the responsibilities and job description for the Commercial Credit Analyst position at Merrimack Valley Credit Union?
FUNCTIONAL SUMMARY: Under the direction of the Vice President, Commercial Lending Manager, the Commercial Credit Analyst provides due diligence, analytical, operational and credit expertise to lending and portfolio management teammates in conformance with established credit policies and government rules and regulations. This position will provide full underwriting services and be able to independently complete loan approval memorandums and annual credit reviews on a timely basis in support of the needs of the commercial loan portfolio. Recommends risk ratings by monitoring borrower performance, proactively identifies early warning signs of trouble and recommends risk mitigation strategies.
RESPONSIBILITIES:
1. Analyze and underwrite the creditworthiness of new and existing commercial applicants for approval. Recommend risk ratings based on that analysis and lending policy guidelines.
2. Perform in-depth financial analysis, including spreading and analyzing financial statements, tax returns, and/or projections.
3. Prepare financial projections, including loan sensitivity analysis, when requested.
4. Identify potential risks and recommend mitigants based on an analysis of economic and industry trends, borrower performance, collateral support, and guarantor liquidity and obligations.
5. Independently draft credit memos for pending loan requests and make recommendations for the extension of credit based on the analysis of the borrower’s financial condition, cash flow, collateral, and the character of the borrower.
6. Interview loan applicants as needed to develop and obtain information regarding their operating results, business needs, experience, and cash flow.
7. Assist members with loan application process as needed.
8. Complete annual reviews of selected portfolio holdings, identifying any issues or changes to the performance of those borrowers that potentially impacts the expected performance of those loans. Recommend risk rating upgrades or downgrades, along with an appropriate action plan, based on that analysis.
9. Provide general portfolio management, tracking reporting and file maintenance including; tracking financial statements and annual reviews, covenant compliance, UCC and insurance expirations, and payment performance.
10. Ensure adherence to Credit policies and procedures, and regulatory requirements.
11. Generate and maintain MIS reporting, data management and tracking reports. Assist the VP, Commercial Lending Manager with monthly department reports and preparation of Board reports.
12. Interface with Octant Business Services, our third-party underwriter and commercial loan servicer.
13. Performs additional duties as requested.
QUALIFICATIONS:
1. Bachelor’s Degree or equivalent experience required.
2. Minimum of four years of commercial credit analysis experience at a lending institution required.
3. Creative with a high level of intellectual curiosity.
4. Thorough knowledge of current commercial credit and lending policies and required.
5. Proficient in MS Office, Outlook, Excel and PowerPoint.
6. Excellent organizational skills and the ability to handle multiple tasks with speed and accuracy. Ability to meet deadlines in a time-sensitive and fast-paced environment. Highly motivated and able to work independently without close supervision.
7. Strong analytical skills, verbal and written business communication skills, member service skills, and robust interpersonal skills.
RESPONSIBILITIES:
1. Analyze and underwrite the creditworthiness of new and existing commercial applicants for approval. Recommend risk ratings based on that analysis and lending policy guidelines.
2. Perform in-depth financial analysis, including spreading and analyzing financial statements, tax returns, and/or projections.
3. Prepare financial projections, including loan sensitivity analysis, when requested.
4. Identify potential risks and recommend mitigants based on an analysis of economic and industry trends, borrower performance, collateral support, and guarantor liquidity and obligations.
5. Independently draft credit memos for pending loan requests and make recommendations for the extension of credit based on the analysis of the borrower’s financial condition, cash flow, collateral, and the character of the borrower.
6. Interview loan applicants as needed to develop and obtain information regarding their operating results, business needs, experience, and cash flow.
7. Assist members with loan application process as needed.
8. Complete annual reviews of selected portfolio holdings, identifying any issues or changes to the performance of those borrowers that potentially impacts the expected performance of those loans. Recommend risk rating upgrades or downgrades, along with an appropriate action plan, based on that analysis.
9. Provide general portfolio management, tracking reporting and file maintenance including; tracking financial statements and annual reviews, covenant compliance, UCC and insurance expirations, and payment performance.
10. Ensure adherence to Credit policies and procedures, and regulatory requirements.
11. Generate and maintain MIS reporting, data management and tracking reports. Assist the VP, Commercial Lending Manager with monthly department reports and preparation of Board reports.
12. Interface with Octant Business Services, our third-party underwriter and commercial loan servicer.
13. Performs additional duties as requested.
QUALIFICATIONS:
1. Bachelor’s Degree or equivalent experience required.
2. Minimum of four years of commercial credit analysis experience at a lending institution required.
3. Creative with a high level of intellectual curiosity.
4. Thorough knowledge of current commercial credit and lending policies and required.
5. Proficient in MS Office, Outlook, Excel and PowerPoint.
6. Excellent organizational skills and the ability to handle multiple tasks with speed and accuracy. Ability to meet deadlines in a time-sensitive and fast-paced environment. Highly motivated and able to work independently without close supervision.
7. Strong analytical skills, verbal and written business communication skills, member service skills, and robust interpersonal skills.
