Commercial Credit Associate
About The Position
The Commercial Credit Associate develops a foundation in financial analysis, credit underwriting, and portfolio management in preparation for a future role in Commercial Banking. During an 18–24 month rotation, the associate receives training in financial spreading, covenant testing, exception tracking, underwriting smaller credit facilities, appraisal and environmental work, and participation-related work, as well as ad hoc projects. After completing the rotation, the associate is prepared to transition into a full-time Commercial Relationship Banker role. The associate may also assist Commercial loan officers with renewals and other portfolio management functions. The role supports credit underwriting and a community banking team. It involves analyzing customer financial information, assigning risk ratings, preparing and reviewing credit materials, supporting loan renewals and approvals, monitoring portfolio risks and collateral exceptions, and coordinating with clients and internal and external partners. The role initially requires onsite work. Over time, a hybrid schedule may be permitted with management approval, combining remote and onsite work. Schedule requirements may vary with business needs. Department rotations may vary and require travel to and work at various Old Second locations within the Greater Chicago branch network.
Requirements
- Bachelor’s degree in Accounting, Finance, Business, or a related area of study.
- Must be able to start in Spring 2027.
- Experience utilizing Microsoft Office (Word, Excel, and Outlook).
- Basic understanding of balance sheets, leverage, and risk ratios.
- Excellent verbal and written communication skills.
- Demonstrated analytical and problem-solving skills.
- Time management skills and ability to work independently in a fast-paced environment.
Nice To Haves
- Internship experience at Old Second.
- Prior experience underwriting commercial and/or retail credits.
- General banking (credit/debit) knowledge.
- Thorough knowledge of loan documentation.
Responsibilities
- Analyze customer financial data and assign appropriate risk ratings.
- Complete and review financial spreads, borrowing base analyses, and covenant tests.
- Underwrite basic commercial and/or retail credit requests and prepare thorough, accurate credit packages.
- Collaborate with Relationship Managers to gather information for annual credit reviews.
- Maintain current knowledge of underwriting guidelines, internal procedures, and regulatory requirements.
- Prepare and review monthly exception reports.
- Review collateral due diligence reports, determine appropriate actions, and coordinate with borrowers and Loan Servicing.
- Maintain accurate documentation and participate in required meetings and training sessions.
- Support portfolio management, including financial tracking, covenant testing, and term loan review preparation.
- Assist Relationship Managers with client relationship management, financial analysis, and risk monitoring.
- Collect and review client financials to support loan renewals and approvals.
- Contribute to Credit Approval Memos (CAMs) under the oversight of Credit.
- Monitor and resolve collateral exceptions and track property insurance compliance.
- Liaise among clients, Relationship Managers, Credit, Loan Operations, and internal and external partners.
- Partner with Relationship Managers to engage clients and support portfolio management efforts.
- Contribute to pre-flight presentations as part of the loan approval process.
- Attend client meetings with Relationship Managers, as appropriate.
- Collaborate with Commercial Banking Assistants to resolve exceptions, onboard new business, and support relationship growth.
- Participate in training on financial spreading, covenant testing, exception tracking, underwriting smaller credit facilities, appraisal and environmental work, and ad hoc projects.
- Travel to and work at various Old Second locations within the Greater Chicago branch network as required by department rotations.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
