What are the responsibilities and job description for the Credit Analyst position at Westerly Community Credit Union?
To excel in the tasks specific to this essential role, as well as participate and help develop our WCCU Cares culture. You would be responsible for providing outstanding service to our members and to our internal staff (#TeamWCCU). Your actions will directly contribute to our goal of caring about our members, their financial needs, and our community. This position works cooperatively to support the Business Lending and Credit functions. Responsible for conducting in-depth financial analysis of existing and potential commercial borrowers. Analyze credit data and financial information for individuals and companies and assess the applicants’ credit worthiness and level of risk to the credit union to facilitate sound credit decisions.
$1,000 Sign-on Bonus
*Paid out after 90 days with a satisfactory performance*
ESSENTIAL FUNCTIONS AND BASIC DUTIES
1. Assumes responsibility for effectively understanding and completing assigned functions.
a. Discusses and prepares analysis of credit files based on discussions with the Commercial Relationship Officer (CRO).
b. Conducts thorough analysis of financial statements and assessment of credit requests, change requests, refinancing and annual due diligence.
c. Exercise prudent lending judgment to recommend approval or denial of loan transactions.
d. Provides recommendations tied to analysis and assessment of credit risk.
e. Present analysis, findings and recommendations to managers, especially findings that involve a borrowers ability to repay.
f. Analyze historical and projected cash flows from tax returns, income statements and bank statements.
g. Keep up to date with the credit union’s lending protocols.
h. Develop and prepare spreadsheets and models to support analysis of new and existing credit applications.
i. Contact borrowers to obtain annual tax information and Personal Financial Statements and perform annual reviews of Member Business Loans.
j. Organize credit files and annual reviews for scanning.
k. Follow-up with borrowers to obtain any additional information required.
l. Ensure all federal and state disclosures are obtained.
m. Prepare reports for department.
n. Conduct and prepare write-ups for annual reviews related to Lines of Credit.
o. Order credit reports, appraisals, environmental, flood and closing documents.
p. Prepare loans for SBA submission and meet reporting requirements.
2. Assumes responsibility for effectively completing assigned functions.
a. Tracks and reports documentation from application to closing.
b. Tracks information requested and received for annual reviews of loans.
c. Maintains and updates files, records, and documents.
d. Organizes closed loan files for scanning.
e. Adhere to credit policy and guidelines.
3. Assumes responsibility for establishing and maintaining professional working relations with members, business contacts and other departmental staff.
a. Obtains and conveys information as needed.
b. Answers questions and resolves problems promptly and courteously.
c. Maintains and projects the Credit Union’s professional reputation.
d. Maintains member confidentiality.
4. Assumes responsibility for establishing and maintaining effective communication, coordination, and working relations with Credit Union personnel and with management.
a. Assists branches and related departments as required.
b. Keeps management informed of area activities and of any significant problems. Provides suggestions for improved service delivery.
c. Attends meetings as required.
5. Assumes responsibility for related duties as required or assigned.
a. Ensures that work area is clean, secure, and well maintained.
b. Completes special projects and miscellaneous clerical functions as required.
EDUCATION/CERTIFICATION:
Bachelor’s degree in finance, accounting, or other business-related experience.
Additional business coursework helpful.
REQUIRED KNOWLEDGE:
Two to five years of strong quantitative experience.
Strong proficiency in MS Office and general computer use. General knowledge of credit union membership
Ability to effectively manage competing deadlines for projects in a high-pressure work environment, with varying degrees of supervision.
Impeccable understanding of financial statements, ratios, and leverage.
A leverage ratio indicates the level of debt incurred by a business entity against several other accounts in its balance sheet, income statement, or cash flow statement. Leverage ratios include debt/equity, debt/capital, debt/assets, debt/EBIDA, and interest coverage.
EXPERIENCE REQUIRED:
Two to three years of loan experience.
SKILLS/ABILITIES:
Professionalism and tact
Attentive to detail
Strong written and verbal communications skills. Coordinates activities well with others
Ability to use computer, imaging, telephone, fax/scan machine and other basic office equipment
Strong attention to detail and ability to notice discrepancies in data. Positive, can-do attitude
Caring & community-oriented
Strong Service & Sales skills – showing a desire for our Members to succeed