Credit Analyst

Deerwood-Bank; Baxter (MN); On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

Medical insurance

Vision insurance

401(k) with company match

Paid holidays

PTO

Job summary

Deerwood Bank in Baxter, MN is hiring a Credit Analyst to support commercial underwriting with research, cash flow analysis, and presentation preparation. The role emphasizes accuracy, timely reporting, and collaboration with Business Bankers.

The position requires a college degree in business, accounting or finance and solid analytical skills. Knowledge of SBA 504/7(a) and risk mitigation is desired. Opportunity to grow into more complex analyses exists.

Qualifications

• College degree in business, accounting, finance or comparable employment experience.
• Formal credit/cash flow analysis training, and well-developed credit analysis and analytical skills.
• Strong interpersonal skills with demonstrated excellence in working effectively as an individual and as part of a team.

Responsibilities

• Spread and analyze interim and year-end financial statements, borrowing base certificates, personal financial statements and tax returns, ensuring timely completion of required reports.
• Assist in the preparation of written commercial loan analyses identifying major trends and issues for lenders.
• Work with Business Bankers to ensure financial information from clients is processed and distributed accurately and timely.
• Monitor loan covenants and reporting requirements; check covenant compliance as statements are received.
• Coordinate with staff to ensure timely month-end reporting.
• Develop the ability to analyze increasingly complex companies and industries and participate in credit approval presentations.
• Learn SBA 504 and 7(a) loan parameters and other risk mitigation programs like USDA.
• Suggest improvements to optimize data usage for risk analysis and create efficiencies using AI and other tools.
• Assist Chief Credit Officer with reporting to committees and the Board as needed.
• Perform other duties as assigned.

Skills

Credit analysis

Interpersonal skills

Attention to detail

Time management

Analytical skills

Education

Bachelor's degree in business, accounting or finance

Tools

Microsoft Office Suite

Financial spreadsheet software

Job description

Salary Range: $55,000.00 To $75,000.00 Annually

Deerwood Bank is a growing, family owned, community bank with 14 locations in Minnesota and is hiring a Credit Analyst to work in its Baxter, MN branch. This individual will participate in the commercial banking process by providing research and analysis to support the Business Bankers in their underwriting decisions. Tasks associated with this position include spreading and analyzing financial statements, preparing credit approval presentations, business and guarantor cash flow analysis and financial projections as necessary.

Major Responsibilities and Duties:

• Spread and analyze interim and year-end financial statements, borrowing base certificates, personal financial statements and tax returns, ensuring timely completion of required reports.
• In conjunction with Business Bankers, assist in the preparation of written commercial loan analyses in a concise but complete format identifying major trends and issues. Develop a strong foundation in analysis in order to understand and to identify credit risks. Use that foundation to make informed analysis and suggestions to the lenders.
• Work with Business Bankers to ensure financial information from clients and prospects is processed and distributed in an accurate, timely and consistent manner to ensure financial risk is managed appropriately.
• Monitor loan covenants and reporting requirements as necessary. Check covenant compliance as annual and interim financial statements are received and spread.
• Coordinate with other staff to ensure timely completion of month-end reporting as necessary.
• Build on acquired skills to analyze increasingly complex companies and industries, eventually assuming more responsibility for credit approval presentations.
• Learn SBA 504 and 7(a) loan parameters as well as other risk mitigation techniques and programs like USDA.
• Make suggestions to the Chief Credit Officer to optimize the use of data and resources available to analyze risk. Create efficiencies using Ai and other technological tools.
• Assists Chief Credit Officer with reporting to the Officer’s Credit Committee, Director’s Credit Committee, or Board of Directors on an “as needed” basis.
• Perform other duties as apparent or assigned.

Regulatory Compliance Requirements:

• Responsible for meeting the requirements for all statutes/regulations pertaining to or governing their positions/departments.
• Must use a moderate degree of independent judgment when determining the financial risk and collateral risk associated with each transaction analyzed as well as the appropriate advance rates for type and quality of collateral and the appropriate handling of customer service issues.
• Must understand organizational and departmental priorities and effectively manage the workload with nominal direction.

Knowledge, Skills and Abilities:

• College degree in business, accounting, finance or comparable employment experience.
• Formal credit/cash flow analysis training, and well-developed credit analysis and analytical skills.
• Strong interpersonal skills with demonstrated excellence in working effectively as an individual and as part of a team.
• Strong personal motivation and attention to detail
• Understanding of economics, finance, accounting, financial statements and GAAP.
• Ability to discuss financial and collateral issues with Business Bankers and customers.
• The ability to independently prioritize work, multi-task and meet deadlines.
• Excellent written, verbal and analytical skills.
• Effective technical report writing skills.
• Strong computer skills with experience with Microsoft Office Suite and financial spread sheet software.

Work Schedule

Monday – Friday, 8:00am - 5:00pm

Hiring Pay Rate:

$55,000 - $75,000 per year, depending on qualifications.

Benefits

are available to employees working 30 or more hours per week on the first of the month following date of hire.

• Medical insurance, including virtual telemedicine and mental health counseling
• Health Savings Account
• Flexible Spending Account (health, limited purpose health, and dependent care)
• Vision insurance
• Life insurance (basic and voluntary)
• Short-term disability insurance
• Long-term disability insurance
• Adoption Assistance Program
• Employee Assistance Program
• PTO
• Paid holidays
• 401(k) with company match (eligible on the first of the month following 2 months of employment)
• Financial wellness education
• Free or reduced fees for banking products and services