Credit Analyst III - Middle Market

Provident Bank; Woodbridge Township (NJ); On-site; USD 87,000 - 125,000; Full time

Job summary

Provident Bank in New Jersey seeks a Credit Analyst III – Middle Market to perform detailed financial, industry, and credit analysis for complex lending relationships, applying underwriting guidelines and policy with independent judgment.

You will partner with Relationship Managers and Credit Officers to evaluate opportunities, mentor junior analysts, and structure loans for sponsor-backed and multi-entity borrowers.

Qualifications

• Bachelor's degree in Finance, Accounting, Economics, or related field.
• Minimum 5 years of commercial credit underwriting experience, preferably within Middle Market Banking.
• Strong understanding of commercial loan structures and commercial credit analysis.
• Experience underwriting Middle Market relationships with complex organizational structures and multiple borrowing entities.
• Advanced financial statement spreading and cash flow analysis skills.
• Strong knowledge of EBITDA and cash flow analysis, Debt Service Coverage, Fixed Charge Coverage, Leverage analysis, Liquidity analysis, Borrowing Base structures, Covenant compliance monitoring.
• Ability to identify credit risks and recommend appropriate mitigants and structures.
• Strong understanding of accounting principles and financial statement analysis.
• Experience with commercial loan origination and spreading systems.
• Excellent verbal and written communication skills.
• Ability to prioritize multiple transactions and manage competing deadlines.
• Ability to effectively communicate credit recommendations to lending and credit leadership.
• Demonstrated ability to mentor junior analysts.

Responsibilities

• Prepare comprehensive credit approval memorandums, annual reviews, modifications, renewals, and extensions for Middle Market lending relationships.
• Analyze borrower and guarantor financial statements, tax returns, cash flow performance, collateral support, liquidity, leverage, and repayment capacity.
• Evaluate complex credit structures, including revolving lines of credit, term loans, acquisition financing, working capital facilities, and owner-occupied real estate exposures.
• Perform detailed cash flow analysis, including global debt service coverage, fixed charge coverage, leverage analysis, and covenant compliance.
• Analyze accounts receivable aging reports, accounts payable aging reports, borrowing base certificates, inventory reports, and working capital cycles.
• Assess industry trends, market conditions, competitive risks, management experience, and business performance.
• Identify credit strengths, weaknesses, risks, mitigants, and recommended loan structures.
• Participate in customer, prospect, and relationship review meetings with Relationship Managers and Portfolio Managers.
• Present underwriting recommendations and credit opinions to management and approval authorities.
• Monitor existing credits and identify emerging risks requiring management attention.
• Conduct third‑party research, including credit reports, industry reports, market analysis, and other due diligence resources.
• Assist in training and mentoring Credit Analyst I and II team members.
• Complete special projects and portfolio reviews as assigned.

Skills

Credit underwriting

Cash flow analysis

Middle Market underwriting

Communication skills

Multitasking

Mentoring junior analysts

Leverage analysis

Covenant monitoring

Education

Bachelor's degree in Finance, Accounting, Economics, or related field

Tools

Spreading systems

Job description

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

The Credit Analyst III – Middle Market is responsible for performing detailed financial, industry, and credit analysis for complex Middle Market lending relationships. The incumbent is expected to have comprehensive knowledge of commercial credit underwriting, cash flow analysis, risk assessment, loan structuring, and credit policy with the ability to exercise independent judgment within established underwriting guidelines and credit policy.

Credit Analyst III partners closely with Relationship Managers, Portfolio Managers, and Credit Officers to evaluate new credit opportunities, support existing customer relationships, and recommend appropriate credit structures. The incumbent is expected to mentor junior analysts, participate in customer meetings, and handle larger and more complex transactions involving multiple borrowing entities, sponsor-backed companies, and sophisticated capital structures.

Key Responsibilities

• Prepare comprehensive credit approval memorandums, annual reviews, modifications, renewals, and extensions for Middle Market lending relationships.
• Analyze borrower and guarantor financial statements, tax returns, cash flow performance, collateral support, liquidity, leverage, and repayment capacity.
• Evaluate complex credit structures, including revolving lines of credit, term loans, acquisition financing, working capital facilities, and owner-occupied real estate exposures.
• Perform detailed cash flow analysis, including global debt service coverage, fixed charge coverage, leverage analysis, and covenant compliance.
• Analyze accounts receivable aging reports, accounts payable aging reports, borrowing base certificates, inventory reports, and working capital cycles.
• Assess industry trends, market conditions, competitive risks, management experience, and business performance.
• Identify credit strengths, weaknesses, risks, mitigants, and recommended loan structures.
• Participate in customer, prospect, and relationship review meetings with Relationship Managers and Portfolio Managers.
• Present underwriting recommendations and credit opinions to management and approval authorities.
• Monitor existing credits and identify emerging risks requiring management attention.
• Conduct third‑party research, including credit reports, industry reports, market analysis, and other due diligence resources.
• Assist in training and mentoring Credit Analyst I and II team members.
• Complete special projects and portfolio reviews as assigned.

Minimum Qualifications

• Bachelor's Degree in Finance, Accounting, Economics, or related field.
• Minimum 5 years of commercial credit underwriting experience, preferably within Middle Market Banking.
• Strong understanding of commercial loan structures and commercial credit analysis.
• Experience underwriting Middle Market relationships with complex organizational structures and multiple borrowing entities.
• Advanced financial statement spreading and cash flow analysis skills.
• Strong knowledge of:
  • EBITDA and cash flow analysis
  • Debt Service Coverage
  • Fixed Charge Coverage
  • Leverage analysis
  • Liquidity analysis
  • Borrowing Base structures
  • Covenant compliance monitoring
• Ability to identify credit risks and recommend appropriate mitigants and structures.
• Strong understanding of accounting principles and financial statement analysis.
• Experience with commercial loan origination and spreading systems.
• Excellent verbal and written communication skills.
• Ability to prioritize multiple transactions and manage competing deadlines.
• Ability to effectively communicate credit recommendations to lending and credit leadership.
• Demonstrated ability to mentor junior analysts.

Preferred Qualifications

• MBA, CFA, or demonstrated advanced credit training.
• Experience underwriting Middle Market relationships with revenues generally exceeding $10 million.
• Experience with sponsor-backed transactions.
• Previous experience in commercial banking, middle market banking, or corporate banking environments.

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.

Pay Details

$87,200 - $124,500 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. In addition, the company provides 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.