What are the responsibilities and job description for the Credit Analyst position at Red Clover HR?
Description
Key Responsibilities
Skills, Knowledge and Expertise
Who we are:
Red Clover is a New Jersey based outsourced strategic Human Resources firm managing the recruitment process on behalf of a client. This opportunity is for a community bank, founded in 1893 in Bergen County, is one of New Jersey's oldest banks. Originally established to serve the employees of Bogota Paper Mills, it has grown from a small community institution to a trusted bank with seven branches across Northern New Jersey. Renamed in 1996, it expanded further through a merger in 2021, adding branches in Essex and Morris counties. Known for its strong community ties, the bank provides personal and commercial banking services, including mortgages, savings accounts, and business products, while maintaining a tradition of trust and exceptional service.
At Red Clover, we manage more than just the recruitment process. We work closely with our clients on a daily basis and cover all aspects of HR, which allows us to find the best talent to meet their unique needs.
About the Role
Under the limited supervision of the Chief Lending Officer, the incumbent is responsible for a wide range of credit-related support functions. Responsibilities include gathering and analyzing credit information, leases, and real estate appraisals on current and potential borrowers; determining the advisability of granting credit for diversified types of real estate loans; Preparing loan requests for Internal Loan Committee; Promoting business for the Bank by maintaining good customer relations and referring customers to appropriate staff for new services. The Credit Analyst acts as a secondary point of contact for commercial real estate banking clients. A minimum of two years of banking experience and formal credit training is needed. Strong written and verbal communication skills required. Incumbents must be detail-oriented, organized, and have a thorough knowledge of Microsoft Word and Excel.
About the Role
Under the limited supervision of the Chief Lending Officer, the incumbent is responsible for a wide range of credit-related support functions. Responsibilities include gathering and analyzing credit information, leases, and real estate appraisals on current and potential borrowers; determining the advisability of granting credit for diversified types of real estate loans; Preparing loan requests for Internal Loan Committee; Promoting business for the Bank by maintaining good customer relations and referring customers to appropriate staff for new services. The Credit Analyst acts as a secondary point of contact for commercial real estate banking clients. A minimum of two years of banking experience and formal credit training is needed. Strong written and verbal communication skills required. Incumbents must be detail-oriented, organized, and have a thorough knowledge of Microsoft Word and Excel.
Key Responsibilities
- Reviews Commercial Real Estate Loan documentation at inception and annual review
- Prepares and makes ongoing assessment relative to credit risk ratings for all commercial real estate loans.
- Executes the underwriting process
- Prepares Credit Analysis Packages
- Enter loans in department application systems and prepare recommendations for the term sheet.
- Performs financial spreading analysis
- Responsible for interviewing prospective borrowers and loan officers for proper fact-finding and preparation of loan offerings.
- Responsible for analyzing all credit reports, property search, appraisal, judgment search, environmental report, leases and other investigative reports as per department procedures and loan policy.
- Responsible for daily tracking and following up for the timely receipt of reports, appraisals and applicant documentation to ensure the expedient processing of all loans.
- Prepare any necessary correspondence to customers regarding needed financial information for new loan requests and annual review of each file.
- Prepares annual reviews on commercial real estate lending relationships
- Handle internal and external customer inquiries (phone and written correspondence).
- Must be knowledgeable of the Bank’s computer system and departmental software applications.
- Must have familiarity with all policies, products, documentation requirements and procedures relating to commercial real estate lending.
- Must be familiar with and adhere to all lending compliance regulations. Must also know the Bank’s policy on Bank Secrecy Act and CIP Procedures.
- Perform other duties as required for the efficient functioning of the department.
Skills, Knowledge and Expertise
- Bachelor’s Degree: A degree in Finance, Accounting, Economics, or a related field is required.
- 1-3 years experience in a related role
- Good knowledge of finance and basic accounting
- Advanced in Microsoft 365 (Excel, PowerPoint, Word, Outlook, and Access) and some modeling capabilities
- Well-organized, efficient, self-starter, and able to work independently in a fast-paced environment
