Credit Analyst IV - CRE

Provident Bank; Paramus (NJ); On-site; USD 108,000 - 154,000; Full time

Benefits offered by this job

PTO

Health and wellness benefits

401(k) Retirement Plan

Tuition Disbursement

Job summary

Provident Bank in Paramus, NJ seeks an experienced CRE Underwriter to perform detailed credit analysis, cash flow modeling, and loan structuring for commercial real estate deals. This role collaborates with loan officers on client calls and mentors junior analysts.

The candidate should have strong CRE lending knowledge, risk assessment skills, and proficiency in loan origination tools. Supervisory responsibilities may apply.

Qualifications

• Bachelor’s degree in Finance, Accounting or Economics; MBA preferred.
• Minimum 7 years in credit underwriting for Commercial Real Estate.
• Thorough knowledge of underwriting, credit analysis, loan structure, and regulations.
• Strong analytical skills to identify risks and mitigate ones.
• Experience with CRE lending including DSCR, cash flow, budgets, sources/uses.
• Proficient with MS Office; loan origination software.
• Ability to manage multiple projects and meet deadlines.
• Strong presentation and communication with management.
• Mentorability for junior analysts.
• Under supervision, ability to negotiate with 3rd party vendors.

Responsibilities

• Prepare loan approvals, annual reviews and conduct credit analysis.
• Prepare and analyze cash flows and project economics, market analysis, property valuations.
• Accompany Commercial Loan Officers on client calls; discuss creditworthiness.
• Conduct third party research and industry reports.
• Prepare reports and handle special assignments.
• Assist in third party vendor management.
• Supervise/mentor Junior Credit Analysts.

Skills

Underwriting knowledge

Credit analysis

CRE lending expertise

MS Office (Word, Excel)

Cash flow analysis

Project economics

Market analysis

Mentoring / leadership

Communication

Education

Bachelor's degree in Finance/Accounting/Economics

MBA preferred

Credit training / banking education

Tools

Loan origination software

Job description

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This position is responsible for detailed research and credit analysis of complex credit requests for the Commercial Real Estate Department. The incumbent is expected to have comprehensive knowledge of all facets of commercial real estate, inclusive but not limited to credit & risk analysis, credit rules, regulations, cash flow analysis, project economics and valuation, guarantor analysis, market analysis and 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 and structuring deals. The incumbent will show leadership in training less experienced staff members and handle more complex and/or challenging assignments (e.g., larger deals or complicated requests with the highest level of relationship exposure under Executive Leadership and Credit Committee Approval Authority – Level 8 & 9). The incumbent will have a key role of consequence to the team outside of their credit related work. For instance, 3rd party vendor management responsibilities, reporting, and special projects.

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 analyze cash flows and project economics, detailed property descriptions and market analysis, tenancy analysis, property valuations, construction budget analysis with sources and uses, guarantor/sponsor personal financial statements and cash flows, and schedule of real estate holding analysis.
• 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
• Assists in 3rd party vendor management responsibilities
• Subject to business needs may have supervisory and mentorship responsibilities for Junior Credit Analysts

MINIMUM QUALIFICATIONS:

• Bachelor’s degree in Finance, Accounting or Economics. MBA preferred. Formal credit training or higher banking education (i.e. Graduate School of Banking, Stonier, etc).
• Minimum 7 years in credit underwriting for Commercial Real Estate.
• Thorough knowledge of underwriting, credit analysis, commercial loan structure, and regulatory guidance.
• Strong analytical skills with ability to identify strengths and mitigate risks.
• Strong knowledge of commercial real estate lending, specifically construction and permanent mortgages with property types that will include office, industrial, hotels/accommodation, retail, multifamily rental and for-sale, residential tract, customer single family and special use.
• Proficient in CRE lending including debt service coverage, cash flow, construction budget, sources and uses, and identification of strengths/weaknesses and mitigants.
• 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.
• Credit underwriting confidence for the ability to mentor and train Credit Analyst III.
• Under some supervision, ability to correspond, manage, and in certain cases negotiate with 3rd party vendors.

PREFERRED QUALIFICATIONS:

• Certification in Credit Risk or Credit Management preferred.

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.

$107,800 - $154,000 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. 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.

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.