Credit Analyst III - C&I

Provident Bank; Morristown (NJ); Hybrid; USD 77,000 - 110,000; Full time

Benefits offered by this job

PTO

Holiday PTO

Health and Wellness benefits

401(k) Retirement Plan

Disability Insurance

Employee Assistance Program

Tuition Disbursement

Loan Repayment programs

Voluntary benefits

Job summary

Provident Bank in Morristown, NJ seeks an experienced Commercial Credit Underwriter for the C&I Regional Department. You will analyze complex credit requests, prepare loan approvals and financial spreads, and assist Commercial Loan Officers on client calls.

With a Bachelor’s degree in Finance, Accounting or Economics and 5+ years in underwriting, you will mentor junior analysts and may handle larger deals under leadership authority. This role offers a hybrid work model and strong benefits.

Qualifications

• Bachelor’s degree in Finance, Accounting or Economics.
• Minimum 5 years in Commercial credit underwriting.
• Thorough knowledge of underwriting and credit analysis.
• Strong analytical skills with risk mitigation ability.
• Knowledge of commercial real estate lending.
• Proficient in MS Office and loan origination software.

Responsibilities

• Prepare loan approvals, annual reviews and credit analysis for new and existing loans.
• Spread financial statements and cash flows for borrowers and guarantors.
• Verify covenants and assess A/R, A/P, WIP, and borrowing bases.
• Join Commercial Loan Officers on calls and discuss creditworthiness with management.
• Conduct third‑party research, industry reports, and real estate analyses.
• Provide mentorship to junior Credit Analysts and handle complex assignments.

Skills

Strong analytical skills

Ability to mentor

Effective communication

Prioritization and time management

Education

Bachelor’s degree in Finance, Accounting or Economics

MBA

Tools

Excel

Word

Loan origination software

Job description

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How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community? Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. At Provident Bank, we are committed to enhancing our customer and employees’ experience.

POSITION OVERVIEW:

This position is responsible for detailed research and credit analysis of complex credit requests in Commercial Credit Underwriting – C& I Regional Department. The incumbent is expected to have comprehensive knowledge of credit & risk analysis, credit rules, structuring of credits, regulations and documentation with the ability to exercise independent judgment within established Underwriting Guidelines and Credit Policy. At this level, the incumbent is expected to increasingly work with and assist the Commercial Loan Officers on customer calls. The incumbent will assist in training less experienced staff members and handle more complex and/or challenging assignments (e.g., larger deals or complicated request with larger relationship exposure under Market and Lending Leadership Approval Authority – Level 6 & 7 or below).

KEY RESPONSIBILITIES:

• Prepare loan approvals, annual reviews and conduct and credit analysis for new requests, in addition to modifications and short term extension of existing loans
• Prepare and spread business financial statements and cash flows, in addition to personal financial statements and cash flow for personal guarantors. Verify covenant compliance. Conduct analysis on accounts receivable and accounts payable aging reports, work in progress reports, and borrowing base certificates.
• Accompany Commercial Loan Officers on customer and prospect calls. Participate in discussions with management regarding creditworthiness of proposed loan requests.
• Conduct third party research, inclusive of industry reports, personal credit reports, real estate analysis with market assessments, etc.
• Prepares reports and handles special assignments as warranted
• Subject to business needs may have supervisory and mentorship responsibilities for junior Credit Analysts.

MINIMUM QUALIFICATIONS:

• Bachelor’s degree in Finance, Accounting or Economics.
• Minimum 5 years in Commercial credit underwriting
• Thorough knowledge of underwriting, credit analysis and commercial loan structure.
• Strong analytical skills with ability to identify strengths and mitigate risks.
• Knowledge of commercial real estate lending (investment and owner-occupied).
• Proficient in Commercial & Industrial lending including debt service coverage, cash flow, A/R and A/P, WIP, and Borrowing Base Certificates.
• Strong computer skills, inclusive of experience with loan origination software and MS Office applications (specifically MS Word and Excel).
• Ability to prioritize multiple projects and complete them on time.
• Ability to conduct meetings, meet with customers, effectively present information and respond to questions from peers, auditors and various levels of management.
• Sound comprehension of accounting practices, inclusive of balance sheets, income statements, equity reconciliation, and cash flows.
• Credit underwriting confidence for the ability to mentor and train Credit Analyst I & II.

PREFERRED QUALIFICATIONS:

• MBA

WORKING CONDITIONS

Work is mainly performed in a normal office environment. Noise levels usually are moderate.

• Prolonged sitting
• Lifting from 5 to 10 lbs. (printer paper, storage boxes)
• Occasional bending or overhead lifting (storing files or boxes)
• The hazards are mainly those present in a normal office setting.

This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

$77,000 - $110,000 annually

Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs.

This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.

• Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan.
• Disability Insurance, an Employee Assistance Program, and Basic Life Insurance.
• Company sponsored Tuition Disbursement and Loan Repayment programs are also available.
• Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.

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About Provident Bank

For more than 180years, Provident Bank has served individuals, families, and businesses in our local communities with personal and business banking services.

Volunteering is a Way of Life

Our brand promise - “Commitment you can count on” - supports the investments we make in the community and donations made by our employees. It’s a promise also reflected in the volunteerism of our employees, who lend time and talent and countless hours to assist hundreds of organizations and thousands of people and animals each year.

Why do we love it?

• We get to volunteer in areas that are meaningful to the bank and impactful in the community.
• Through generous contributions, we have raised over $912,000 in 2022. No item or donation is too small; we find a home for it all.