What are the responsibilities and job description for the Credit Analyst I position at Vision Bank?
Description
Title: Credit Analyst
Job Summary
The Credit Analyst will review the creditworthiness of individuals or businesses to determine the risk involved in lending money or extending credit.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Duties/Responsibilities
Required Skills/Abilities:
Title: Credit Analyst
Job Summary
The Credit Analyst will review the creditworthiness of individuals or businesses to determine the risk involved in lending money or extending credit.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Duties/Responsibilities
- Analyzes credit data and financial statements of individuals or businesses to identify the degree of risk involved in lending money or extending credit.
- For individuals, performs research to verify employment and income, inspects reports from credit reporting agencies, and reviews FICO scores.
- For businesses, compares to similar businesses in terms of liquidity, profitability, and credit histories.
- Uses computer software to further evaluate customers’ financial status and produce financial ratios.
- Compiles information, completes loan applications, and composes reports detailing the degree of risk involved in loan or credit request; recommends approval or denial based on results.
- Sets interest rate and minimum or maximum term of repayment for customers based on earnings, savings data, payment history, and purchase activity.
- Determines the expected profitability of loans by analyzing a business’s financial data including quality of management, income growth, and market shares.
- Resolves customer complaints and verifies transactions through consultation.
- Identifies delinquent accounts through the review of individual or commercial customer files.
- Performs other related duties as assigned.
Required Skills/Abilities:
- Ability to exhibit our core values; Integrity, Enthusiasm, Accountability, Excellence, Customer First, Professionalism, and Respect.
- Identify and report risks that could impede the reputation, safety, security, or financial success of the bank.
- Excellent verbal and written communication skills.
- Proficient in Microsoft Office Suite or related software, as well as analysis software.
- Basic understanding of relevant equipment, policies, procedures and strategies used in credit analysis.
- Ability to identify discrepancies and problems.
- Bachelor’s degree in Accounting, Economics, Finance, Statistics, or Mathematics required.