Credit Associate

Overview

This role involves analyzing the creditworthiness of new and existing customers in accordance with departmental and corporate thresholds, policies, and procedures. Responsibilities include reviewing financial statements, assessing third-party credit reports, and researching public information on customers and related parties/principals. Based on findings, you will recommend approval or decline of submitted credit applications.

Responsibilities

• Financial Analysis: Review and analyze financial statements, credit reports, and other relevant financial documents to assess applicants’ creditworthiness.
• Risk Assessment: Evaluate the level of risk associated with extending credit using financial data, market conditions, and industry trends.
• Credit Scoring: Use credit scoring models and tools to assign appropriate credit scores and ratings to applicants.
• Data Gathering: Collect and verify information from sources including credit bureaus, financial statements, tax returns, and customer interviews.
• Documentation: Prepare comprehensive credit reports summarizing applicants’ financial situation, risk level, and recommendations for credit approval or denial.
• Recommendations: Present findings and credit recommendations to senior management, underwriters, or loan committees with clear rationale.
• Regulatory Compliance: Ensure adherence to relevant laws, regulations, and lending standards.
• Communication: Maintain effective communication with applicants, lenders, and other stakeholders to gather information and explain credit decisions.
• Credit Policy Development: Contribute to development and refinement of credit policies and procedures to improve credit risk assessment.
• Portfolio Monitoring: Continuously monitor credit performance of existing loans and credit lines; identify potential risks and suggest remedial actions.
• Market Research: Stay informed about industry trends, economic conditions, and changes in credit markets that may impact lending decisions.

Requirements

• Education/Experience: Bachelor’s degree in finance, accounting, economics, or a related field or 5+ years’ work experience.
• Strong analytical skills and proficiency in financial statement analysis.
• Knowledge of risk assessment techniques.
• Familiarity with regulatory guidelines and compliance requirements related to lending and credit.
• Excellent written and verbal communication skills.
• Attention to detail and ability to work independently and as part of a team.
• Proficiency in financial software and data analysis tools.
• Problem-solving skills and ability to make sound decisions based on available information.
• Prior experience in credit analysis or a related role is advantageous.

Preferred Qualifications

• Prior experience in credit analysis or a related role.

Compensation & Benefits

• Target Range: $55,000.00/Yr. - $70,000.00/Yr.
• Actual starting pay will vary based on factors including, but not limited to, geographic location, experience, skills, specialty, and education.
• Annual Discretionary Cash Bonus Target: 10%
• Annual Discretionary Restricted Stock Units Bonus Target: 10%
• These discretionary target bonuses may be awarded semi-annually based upon achievement of performance goals and targets.
• Benefits may include:
  • Medical, Dental, Vision, and Life Insurance
  • Paid Sick Leave, 3 weeks’ Vacation, and Holidays (about 11 a year)
  • HSA or FSA account and other voluntary benefits
  • 401(k) Retirement Saving Plan with Employer Match Program and 529 Savings Plan
  • Employee Mortgage Loan Program and free access to a bank account with Self-Directed Trading

Location

No location details provided.

Work Environment & Compliance

• Ability to sit for extended periods of time; manual dexterity and coordination are required while operating standard office equipment (computer keyboard and mouse, calculator, telephone, copiers, etc.).
• Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Pre-Employment Screening

• All offers are contingent upon successfully passing a credit check, criminal background check, and pre-employment drug screening (including screening for marijuana).
• The employer is a federally regulated banking institution; at the federal level, marijuana is an illegal schedule 1 drug, and no employment will be offered to individuals who test positive for marijuana, regardless of state legalization.

Equal Opportunity

The employer is an Equal Opportunity employer and provides equal employment opportunities to all applicants and employees without regard to protected characteristics under applicable federal, state, and local laws.

Employment Eligibility

• Participation in the U.S. Department of Homeland Security E-Verify program in facilities located in the United States.
• Offers are subject to IER Right to Work requirements.