Credit Analyst - Commercial Lending

Seamen's Bank; Massachusetts; On-site; USD 48,326 - 60,421; Full time

Benefits offered by this job

401(k)

401(k) 4% Match

Health insurance

Dental insurance

Paid time off

Job summary

Seamen's Bank is looking for a Credit Analyst in Massachusetts to support the Commercial Loan Department. The role involves analyzing financial statements and credit reports to determine creditworthiness, preparing loan approval memorandums, and ensuring compliance with bank policies.

The ideal candidate should have a Bachelor's degree with accounting or finance coursework and 2-4 years of relevant experience. This position is pivotal in managing credit risk and maintaining asset quality while offering competitive pay and excellent benefits.

Qualifications

• Bachelor’s degree with at least 18 credit hours in accounting/finance required.
• 2-4 years of bank-related experience or equivalent education and experience.

Responsibilities

• Conduct detailed analysis of financial statements and credit reports.
• Prepare credit memorandums for loan requests, renewals, and modifications.
• Identify loan policy exceptions and mitigating factors.

Skills

Attention to detail

Organizational skills

Analytical abilities

Interpersonal skills

Proficiency in Excel

Education

Bachelor’s degree with accounting/finance courses

Job description

Summary

The Credit Analyst contributes to the achievement of the Commercial Loan Department’s goals as it relates to revenue and portfolio growth, asset quality and compliance.

Specifically, the Credit Analyst will work closely with the commercial lenders to identify and manage the credit risk and quality of the commercial loan portfolio. Primary responsibility is to provide credit analysis of new and existing loans by researching and gathering information in order to prepare a loan approval memorandum, conducting financial analysis of business entities and individuals, and assigning and verifying the appropriate risk rating for new and existing borrowers. All duties and responsibilities will be performed while adhering to Seamen’s Bank policies and procedures, and all applicable laws and regulations.

Essential Duties and Responsibilities

• Conduct in-depth analysis of company financial statements and tax returns to determine credit strengths and weaknesses of existing and potential borrowers. The analysis includes, but is not limited to, business and global cash flow analysis, trend analysis, collateral valuation, guarantor analysis, and interest rate sensitivity analysis.
• Review, analyze and interpret credit reports, personal financial statements, and tax returns. Spread financial information utilizing financial statement spreading software.
• Prepare credit memorandum for new loan requests, renewals, reviews, modifications, and extensions.
• Accurately identify loan policy exceptions and mitigating factors.
• Confer with the commercial team to ensure relationships are appropriately risk rated.
• Utilize the Commercial LOS platform for loan portfolio administration including ticklers for requesting financial information for completion of annual line of credit renewals and annual borrowing relationship reviews.
• Work with loan officers and other staff to follow-up on missing financial information and other documents necessary for the credit analysis process.
• Coordinate with loan officers to annually request current financial information from borrowers with lines of credit and/or with larger borrowing relationships, including preparing request letters for the loan officers.
• Provide assistance in the general administration of the commercial loan portfolio.
• Assist with the development of in-house real estate evaluations.
• Understand and maintain a thorough knowledge of the bank’s credit policies and compliance requirements.
• Maintain knowledge of State Laws and lending regulations as they pertain to commercial loans.
• Provide other support as needed.

Qualifications and/or Educational Experience

A Bachelor’s degree from a 4-year college or university, which includes at least 18 credit hours of accounting/finance courses, and with 2-4 years of bank-related experience or training; or the equivalent combination of education and credit/accounting related experience.

Required Skills

• Exceptionally detail-oriented; strong organizational and time management skills.
• Ability to read, analyze, and interpret financial statements, tax returns, business periodicals, professional journals, technical procedures, laws and governmental regulations.
• Ability to write reports, business correspondence, and other documents as may be assigned.
• Effective verbal skills and the ability to present information and respond to questions from managers, customers, and the general public.
• Adept analytical and reasoning ability and problem‑solving capabilities.
• Responsible and independent worker with strong interpersonal skills that interacts well with other employees, customers, and the general public.
• Ability to prioritize and multi-task.
• Ability to handle sensitive and confidential situations and documentation.
• Proficient computer skills, especially with Excel, and ability to navigate and utilize Commercial LOS.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Hourly range: $35.08/hr to $43.86/hr

Benefits

• 401(k)
• 401(k) 4% Match
• 401(k) matching
• Dental insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Profit sharing
• Tuition reimbursement
• Vision insurance
• Volunteer time off

Seamen’s Bank is a Federal contractor and an Equal Opportunity Employer. Seamen’s Bank is collecting demographic data from applicants and employees to ensure nondiscrimination in all aspects of employment as well as for federal and/or state reporting purposes. In addition, we are subject to Vietnam Era Veterans’ Readjustment Assistance Act of 1974, as amended by the Jobs for Veterans Act of 2002, 38 U.S.C. 4212 (VEVRAA), which requires Government contractors to take affirmative action to employ and advance in employment protected veterans. In order to comply with these laws, Seamen’s Bank invites applicants to voluntarily self-identify their gender, race/ethnicity and protected veteran status. Seamen’s Bank does not discriminate on the basis of race, religion, color, sex, sexual orientation, gender identity, pregnancy, age, protected veteran status, non‑disqualifying physical or mental disability, national origin, genetic information, or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need. Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.

Submission of this information is voluntary and refusal to provide it will not subject you to any adverse treatment. The information obtained will be kept confidential and may only be used in accordance with the provisions of applicable laws, executive orders, and regulations, including those that require the information to be summarized and reported to the federal government for civil rights enforcement. When reported, data will not identify any specific individual.