Credit Analyst III

First Interstate Bank; Watertown (SD); On-site; USD 85,000 - 110,000; Full time

Benefits offered by this job

Generous PTO

Student debt repayment

401(k) with 6% match

Job summary

First Interstate Bank's Credit Analyst III role collaborates with relationship managers to gather and evaluate commercial credit information on current and prospective customers, preparing in-depth analyses of financial statements, cash flow projections, and industry risks.

Responsibilities include preparing financial spreads, underwriting, producing comprehensive reports with charts and narratives, and supporting quarterly monitoring by Relationship Managers.

Qualifications

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

Responsibilities

• Reads, reviews, and understands various financial statements including tax returns, balance sheets, P&L, aging schedules, debt schedules, rent rolls, and appraisals.
• Prepares financial spreads for commercial real estate, municipalities, nonprofits, and individuals acting as borrowers or guarantors.
• Analyzes credit worthiness by reviewing loan applications, cash flows, leverage, liquidity, collateral, and industry risks.
• Authours a comprehensive analysis report using data visualization and narrative.
• Evaluates credit quality and recommends appropriate risk ratings.
• Underwrites commercial requests with some guidance from the manager.
• Ensures compliance with regulations and bank policy.
• Assists Relationship Manager in quarterly monitoring reports and covenant testing.
• Participates in portfolio management and training programs.

Skills

Strong organization

Time management

Excellent written/verbal skills

Analytical thinking

Problem solving

Credit underwriting knowledge

Microsoft Office proficiency

Education

Bachelor's Degree in Business/Finance

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

• 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.

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

• 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