What are the responsibilities and job description for the Credit Analyst position at Lincoln Federal Savings Bank?
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The Credit Analyst I will play an important role in assessing the creditworthiness of individuals and businesses applying for loans and assisting in the day-to-day operation of the Bank. The person in this position will typically have 0-3 years of analysis experience.
Essential Functions:
- Evaluate the creditworthiness of loan applicants by analyzing financial statements, credit reports, tax returns, cash flow projections, and other relevant financial information.
- Assess the level of risk associated with each loan applications, considering factors such as borrower’s credit history, income stability, debt levels, industry trends, and economic conditions.
- Prepare comprehensive credit write ups and underwriting memorandums outlining the analysis of borrower’s financial condition, repayment ability, collateral valuation, and proposed loan structure.
- Recommend appropriate loan structures, terms, and conditions based on risk assessment, regulatory requirements, and bank policies, while ensuring alignment with borrower’s needs and repayment capacity.
- Ensure compliance with bank lending policies, regulatory guidelines, and underwriting standards.
- Collaborate with loan officers, relationship managers, and other bank personnel to gather necessary information, address inquiries, resolve issues, and facilitate the loan approval process.
- Annually monitor the performance of existing loan portfolios, conduct periodic reviews of the borrower’s financial condition, and assess the need for loan modifications, renewals, or risk mitigation strategies.
- Ensure accuracy and completeness of loan documentation, including loan agreements, promissory notes, security agreements, and other legal documents, in coordination with legal and documentation teams.
- Prepare various department reports
- Stay informed about industry trends, market conditions, and best practices in credit analysis and risk management, and actively seek opportunities to enhance analytical methodologies and underwriting processes.
- Act as backup for various commercial servicing duties.
- Perform other duties as assigned.
Qualifications:
- Bachelor’s or associate degree in finance, accounting, economics, or related field, preferred. Strong analytical skills to interpret financial data and assess risk factors.
- Solid understanding of financial statements, accounting principles, cash flow analysis, and financial modeling techniques.
- Meticulous attention to detail to review and analyze complex financial documents accurately.
- Effective communication skills, both verbal and written, to convey credit analysis findings and recommendations, and decisions clearly and concisely.
- Ability to work collaboratively with cross-functional teams and stakeholders to achieve common goals and objectives.
- Strong organizational and time management skills to prioritize tasks, meet deadlines, and manage multiple credit analyses simultaneously.
- Commitment to upholding ethical standards, integrity, and confidentiality in handling sensitive financial information.
Lincoln Federal Savings Bank is an Equal Opportunity Employer.
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