Credit Associate, Fund & Sponsor Banking

Grasshopper Bank; New York (NY); Remote; USD 85,000 - 120,000; Full time

Job summary

Grasshopper Bank is a digital, client-first bank focused on the business and innovation economy. We seek a Credit Associate to support RMs with loan growth across our fund and sponsor banking products, handling credit analysis, risk assessment, and covenant monitoring.

The role requires 4+ years in banking, strong analytical skills, and proficiency in MS Office. This remote-friendly position supports cross-functional collaboration with leadership and clients.

Qualifications

• Bachelor's degree in Accounting, Finance, or Economics or equivalent experience.
• At least 4 years of relevant banking experience.
• Experience analyzing Fund and Sponsor Banking deals; C&I underwriting desirable.
• Clear communication across all levels of staff and external contacts.
• Ability to multi-task in a fast-paced environment with tight deadlines.
• Attention to detail to ensure accuracy in every transaction.
• Proficiency in Word, Excel and PowerPoint.

Responsibilities

• Serve as credit specialist to drive loan growth across Grasshopper Bank's suite of loan products.
• Lead review and analysis of prospective client performance and debt needs; coordinate with credit team.
• Build strong relationships with borrowers, Relationship Managers, clients and other stakeholders.
• Monitor performance of existing borrowers and identify covenant deviations; raise concerns with RM.
• Conduct financial analysis of credit and collateral with emphasis on trends and forecasting.
• Test covenants and risk assessments based on Loan & Security Agreement as needed.
• Input financial information into loan systems and prepare analyses & reports.
• Communicate with clients, RMs and bank leadership to resolve loan issues.
• Assist RMs in covenant reporting and payment collection; support timely disclosures.
• Be comfortable working with AI-based underwriting and analysis software.

Skills

Credit analysis

Financial forecasting

Client relationship

AI underwriting

Education

Bachelor's degree in Accounting, Finance, or Economics

Tools

Word

Excel

PowerPoint

Job description

Credit Associate, Fund & Sponsor Banking

Department: Credit

Employment Type: Full Time

Location: Remote

Description

Grasshopper Bank is a client-first, digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.

We are a highly experienced team who pride ourselves on diversity of thought and perspective. Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.

Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership. We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.

Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged, and successes are celebrated. We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.

Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.

What you'll do:

• Serve as the credit specialist for the RMs to help drive loan growth across GHBs suite of loan products to help drive new business growth. This includes recommending appropriate credit structure to meet the borrower’s need while maintaining the Bank’s credit risk profile
• Lead the review and analysis of prospective client performance and debt needs and coordinate with Grasshopper credit team to assess credit strength of new debt opportunities
• Build strong working relationships with prospective borrowers, Relationship Managers, existing clients and other constituents both inside and outside the bank
• Responsible for monitoring the performance of existing borrowers and identifying deviations from agreed upon performance covenants. Utilize observations to proactively raise credit concerns to the Relationship Manager to mitigate credit risk where appropriate
• Conduct financial analysis of the credit and collateral for new and existing borrowers, with emphasis on historical trend analysis and financial forecasting
• Test financial covenants and other risk assessments based on the Loan & Security Agreement as needed
• Utilize bank loan systems to input financial information, prepare financial analysis and produce comprehensive management reports/summaries as required
• Communicate with clients, Relationship Managers, and bank leadership to resolve loan issues or questions
• Assist RMs in the collection of covenant reporting information and payment collection. The ultimate responsibility for obtaining financial disclosure and loan payment lies with the RM, since they own the relationship
• Candidate must be comfortable working with AI based underwriting and analysis software

What you need:

• Bachelor's degree in Accounting, Finance, or Economics or equivalent experience
• At least 4 years of relevant banking experience required
• Experience analyzing Fund and Sponsor Banking deals. The ideal candidate will also have experience underwriting C&I credits also
• Able to communicate clearly throughout the organization, to all levels of staff as well as external contacts, exhibiting superior interpersonal, verbal and written communication skills
• Ability to multi-task in a fast-paced environment with a demonstrated ability to meet tight deadlines, e.g. quick turnaround of credit requests
• High regard for all important details to assure accuracy in every transaction performed; detect errors; follow through on corrections and details
• Strong analytical skills and resourcefulness necessary to complete in-depth industry and market analyses; including ability to analyze financial statements (profit and loss, balance sheet, and cash flow statements)
• Ability to act independently without being prompted; handles problems when appropriate; able to problem solve to resolve issues in order to provide timely and professional service to both internal and external customers
• Expert knowledge in Word, Excel and PowerPoint