Credit Analyst

* We currently offer remote work for those residing in the following states: Arkansas, Florida, Georgia, Idaho, Indiana, Kansas, Kentucky, Michigan, Nevada, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin. *To qualify, applicants must be legally authorized to work in the United States, and should not require, now or in the future, sponsorship for employment visa status. GENERAL SUMMARY (What is done and why) The Credit Analyst provides credit and collateral risk analysis for business lending, by providing guidance to the Commercial Credit Manager in terms of reviewing financial information and provides guidance to the Sales Team and Collections Department as needed. ESSENTIAL FUNCTIONS (Majority of duties, but not meant to be all inclusive or prevent other duties from being assigned as necessary) 1. Assume responsibility for the effective and professional completion of the underwriting and due diligence for business loans . Time:50% a. Analyze the Financial Statements, Tax Returns, Environmental Studies, and Appraisals etc., to evaluate the risks of business loan applications. b. Understanding of GAAP accounting, federal and state tax structures, legal entities, real estate appraisals, and environmental review is necessary. c. Responsible for the preparation of the UFCU Credit Memorandum. Independently recommend potential loan covenants, collateral controls, and loan structures on business loan requests. d. Review of appraisals, environmental assessments, construction and construction management reports or contracts, and participation agreements as required. e. Assists in dealing with outside agencies that provide government guarantees or third-party underwriting support to the Credit Union. The analyst reviews the required documentation as needed for SBA and USDA guaranteed loans, f. Provide management with clear, concise, and accurate written and verbal communications regarding UFCU, NCUA and other federal and state regulations covering all aspects related to business lending. 2. Work efficiently reviewing and managing the existing portfolio to ensure timely collection of required financial statements and documentation of maturing loans. Time:20% a. Monitor expiring and at-risk loans for signs of financial deterioration. b. Using an understanding of the credit principals, recommends changes in risk rating for loans . c. Recommend corrective actions and may initiate the process of working out loans which have been decided are no longer reasonable credit risks. 3. Assume responsibility for related duties as required or assigned. Time: 15% a. Complete special projects dealing with UFCU’s core systems as assigned (i.e., d epartment reports and system testing). b. Stay informed regarding changes in lending standards and related legal requirements . c. Ensure that work area is clean, secure, and well maintained. 4. Oversee the process of loan documentation and coordinate with the Sales Team to ensure closing of new loans and renewals, as necessary. Time:10% a. Ensure that file updates and comments are posted in the Business Loan Origination System, and ensure that all milestones are in place, documentation is present, and there are clear communications within each credit file. b. Review of loan documentation packages. 5. Assume responsibility for establishing and maintaining effective communication, coordination, and working relations with UFCU personnel and with management. Time: 5% a. Coordinate functions with related departments and branches providing support as needed. b. Assist Commercial Lending Operations as needed. c. Keep management informed of area activities and of any significant problems. d. Attend and participate in meetings and committees as required. e. Complete required reports and records. EDUCATION (Minimum education required to perform the duties of this position) · Bachelor’s degree in business or a related field or two years of related work experience required. EXPERIENCE (Minimum experience required to perform the duties of this position) In addition to the education requirement: · 1-2 yrs. in an accounting/or financial analysis field experience required. · Bank or Credit Union business underwriting experience preferred. KNOWLEDGE, SKILLS AND ABILITIES (Minimum technical and communication skill levels and licenses/certificates normally required to perform the duties of this position) · Excellent communication and public relations skills. · Strong analytical abilities. · Excellent customer service abilities by phone, email, or in-person. · Able to use financial calculators and related computer applications and business machines. · Understanding of financial analysis and determination of credit worthiness. · Ability to prepare memos, reports, and essays using proper punctuation, spelling, and grammar. Required Competencies · Problem Solving · Dealing with Ambiguity · Time Management · Demonstrates Courage · Drive for Results · Interpersonal Savvy · Customer Focus · Integrity and Trust · Self-Development · Business Acumen Mental Requirements · Ability to deal with a variety of variables under only limited standardization. · Able to interpret various instructions. · Ability to compute discount, interest, profit, and loss; commission markup and selling price; ratio, proportion, and percentage. · Able to perform very simple algebra. Tools and Equipment Used · All available general office equipment as needed. · All available computer software and hardware as needed. WORKING RELATIONSHIPS/CONTACTS (Positions with which incumbents have frequent contact) · Daily, personal/written/phone contact with Credit Union staff. · Daily, personal/written/phone contact with Credit Union management. PHYSICAL DEMANDS (Physical effort generally associated with this position) · Communication skills - Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly. · Able to hear average or normal conversations and receive ordinary information. · Movements frequently and regularly require using the wrists, hands, and/or fingers. · Average, ordinary, visual acuity necessary to prepare or inspect documents or products or operate machinery. · Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Almost all office jobs.) WORKING CONDITIONS (Typical working conditions associated with this type of work and environmental hazards, if any, that may be encountered in performing the duties of this position) Internal - Work is normally performed in climate-controlled office environment, where exposure to conditions of extreme heat/cold, poor ventilation, fumes and gases is limited. Noise level is moderate and includes sounds of normal office equipment (computers, telephone, etc.) No known environmental hazards are encountered in normal performance of duties. Length of day is unpredictable; long hours may be required to accommodate deadlines or special meetings. EOE/Vets/Disability