Credit Analyst III

First Interstate Bank; Sioux Falls (SD); On-site; USD 80,000 - 110,000; Full time

Benefits offered by this job

Generous PTO

Student debt repayment

401(k) match

Job summary

First Interstate Bank is seeking a Credit Analyst III to collaborate with relationship managers in gathering and evaluating commercial credit information. You will prepare in-depth analyses of financial statements, cash flow, and ratios to support underwriting decisions.

The role involves preparing financial spreads, assessing credit risk, and producing comprehensive reports for current and prospective borrowers across diverse industries.

Qualifications

• Reads and analyzes diverse financial statements (tax returns, balance sheets, P&L, debt schedules, rents, appraisals).
• Prepares financial spreads for commercial, real estate, and nonprofit clients.
• Evaluates credit worthiness by reviewing applications and performing cash flow and ratio analyses.

Responsibilities

• Prepare comprehensive credit reports analyzing financial data and risks.
• Underwrite commercial credit requests with guidance from the Relationship Manager.
• Assist with quarterly monitoring of relationships and covenant testing.

Skills

Analytical skills

Credit risk decisions

Communication

Relationship management

MS Office

Time management

Attention to detail

Ability to work in fast-paced env

Education

Bachelor's degree in Finance/Business

Tools

Financial spread software

Job description

This position may be located in Sioux Falls, SD; Aberdeen, SD; or Rapid City, SD.

What's Important to You

We know your career is just one aspect of a meaningful, complex, and demanding life. That's why we designed our compensation and benefits package to provide employees and their families with as much choice as possible.

• Generous Paid Time Off (PTO) in addition to paid federal holidays.
• Student debt employer repayment program.
• 401(k) retirement plan with a 6% match.
• The health and happiness of the places we call home matter to us.

Learn a little more about what we do for the communities we serve and why we want YOU to be a part of it. We encourage you to apply. Reach for what you want and tell us why your work ethic and willingness to learn make you a natural fit for #TeamFirstInterstate.

SUMMARY

The Credit Analyst III collaborates with relationship managers in gathering and evaluating commercial credit related information on current and prospective customers by preparing written reports of analysis which include in-depth analysis of financial statements, historical and projection-based cash flow and ratio analysis, suggested credit structure, general industry analysis and identified risks.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Reads, reviews, and understands various financial statements to include but not limited to; tax returns, balance sheets, profit and loss statements, agings, borrowing base certificates, debt schedules, equipment lists, credit bureau reports, rent rolls, lease agreements, and appraisals.
• Prepares financial spreads for various types of commercial and real estate businesses, municipalities, non-profits, and individuals acting as direct obligation borrowers or guarantors.
• Analyzes credit worthiness of commercial applicants and guarantors as appropriate by reviewing the loan application, spreading historical and projection based financial statements, calculating cash flows, leverage, and liquidity ratios, evaluating collateral, conducting research on the borrower(s) and key industries, and identifying risks.
• Analyzes findings and authors a comprehensive report of analysis using a mix of data analysis (charts, formulas, graphs, etc.) and written narrative.
• Evaluates credit quality and suggests proper risk rating based on analysis of most recent financial information.
• Possesses proficiency relative to credit transactions and analytical skills sufficient to enable independent underwriting of commercial requests for streamlined to complex requests with limited guidance from immediate manager.
• Ensures compliance to applicable regulations and keeps up to date with changes in federal regulations and FIB credit policy requirements.
• Assists the Relationship Manager in the preparation of reports for quarterly monitoring of classified and criticized commercial relationships.
• Completes financial performance metric covenant testing utilizing prepared financial spreads.
• Portfolio management as assigned.
• Participates in a quality control program that provides for the monthly review of general forms, spreads, and analysis with the provision of feedback and mentoring.
• Participates in the production and development of training materials and assists with the delivery of training through various channels.
• Partakes in a mentorship program with lower-level analysts to assist in guidance and the overall development of credit acumen.
• Acts as a resource for Relationship Managers and other analysts for questions relating to Loan Policy, loan structuring, and underwriting recommendations.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

KNOWLEDGE, SKILLS AND ABILITIES

• Strong organization and time management skills.
• Excellent written and verbal skills.
• Able to develop and maintain internal and external relationships with individuals such as Relationship Managers, Credit Officers, and Risk Management Personnel.
• Able to work in a fast-paced environment, set priorities, and establish and meet strict deadlines with the flexibility to adapt quickly to changing priorities.
• Self-motivated and possess the ability to assist with credit risk decisions.
• Strong analytical and problem-solving skills, as well as an attention to detail.
• Able to prioritize and work with others in an integrated way to achieve individual objectives and team results with flexibility to adapt to changing volumes, requirements, and areas of focus.
• Proficient with Microsoft Office Suite, including Word, Excel, Outlook, and PowerPoint.
• Able to acclimate quickly to other programs.

EDUCATION AND/OR EXPERIENCE

• Bachelor's Degree in Business, Finance, or related field required
• 7-9 years of banking experience and/or equivalent combination of education and experience required
• 4-6 years experience in a similar position required
• Experience with financial spread software required
• Commercial banking experience preferred

PHYSICAL DEMANDS AND WORKING ENVIRONMENT

The physical demands and work environment are representative of those that must be met or encountered to successfully perform the essential functions of the job. In compliance with the Americans with Disabilities Act, the company provides reasonable accommodation to qualified individuals with disabilities and encourages both prospective and current employees to discuss potential accommodations with the employer.

• Dexterity of hands/fingers to operate computer keyboard and mouse - Frequently
• Lifting - Occasionally (up to 10 lbs)
• Sitting - Frequently
• Noise Level - Moderate
• Typical Work Hours - M-F (8-5)
• Regular and Predictable Attendance - Required

Equal Employment Opportunity & Compliance

First Interstate Bank is an equal opportunity employer committed to a diverse workforce and a barrier-free employment process. Employment is based solely on an individual's merit and qualifications directly related to the position. We do not discriminate on the basis of race, color, religion, national origin, ancestry, pregnancy status, sex, age, marital status, disability, medical condition or any other characteristics protected by law. We make all reasonable accommodations to meet the obligations set forth under the Americans with Disabilities Act (ADA) and state disability laws.

In order to ensure reasonable accommodations for individuals protected by Section 503 of the Rehabilitation Act of 1973, the Vietnam Era Veterans' Readjustment Assistance Act of 1974, and Title I of the Americans with Disabilities Act of 1990, as amended, individuals that require accommodation in the job application process for a posted position may contact us Monday through Friday, 8 am to 5 pm MST at [e-mail].

All applicants must pass pre-employment screenings including a background check. First Interstate BancSystem participates in E-Verify which will require new employees to verify their identity and employment eligibility through the internet-based system operated by the Social Security Administration (SSA) and the Department of Homeland Security (DHS). E-Verify Notice English or Spanish. Right to Work Notice English or Spanish.