Credit Analyst III

Central Minnesota Credit Union•Melrose, MN

3d•$69,650 - $104,475

About The Position

POSITION SUMMARY Analyzes financial information of agricultural and commercial loan applicants to evaluate and document the repayment ability and the degree of financial risk. Makes recommendations to the appropriate lending authority. Provides work direction, coaching, training, and feedback to staff. Participates in department/strategic initiatives for the credit department and Magnifi as an organization. ESSENTIAL DUTIES AND RESPONSIBILITIES • Provides mentoring, coaching, training, and feedback to Credit Analyst I and Credit Analyst II staff in order to assist them in achieving team goals. • May manage, direct, and coordinate the workload of an assigned team of Credit Analysts I and II for efficiency and prioritization. Gives feedback to the supervisor on and implements training plans with new team members. • May be assigned special projects, both on the credit team and inter-departmental related. • Represents the Credit Analyst team with Magnifi's Department/Strategic Initiatives by offering suggestions back to management on how decisions made may indirectly affect members or internal processes or procedures. Acts as a subject matter expert and resource when these initiatives are implemented. • Through coaching, ensures fellow Credit Analysts understand and adhere to procedures and policies which impacts member service standards and delivery. • Provides meaningful support and backs up Credit Analyst Supervisor in review of credit presentations for Credit Analyst I and Credit Analyst II positions, monthly/quarterly management reports, and pipeline management. • Stays current and well-informed on changes in the industry while keeping the team educated on how the changes could affect Magnifi's credit risk. • Conducts an analysis of financial information presented by agricultural and commercial loan/credit applicants that includes an assessment of liquidity, quality of collateral, quality of management, market position and overall business climate. Evaluates and documents the financial strength of existing businesses using loan origination and financial analysis software. Identifies and recommends risk ratings. Analyzes environmental reports to determine if there are environmental concerns on or near the property. • Completes credit presentation in partnership with lenders, checks for completeness and accuracy of data presented while making recommendations to structure, pricing, and other components required for a successful credit relationship. These credit presentations should fully detail the member's credit request and the financial analysis for purposes of credit decisions and ongoing documentation. • Maintains a detailed understanding of Magnifi's credit policy and acknowledges policy exceptions with sound reasoning. • For complex relationships, larger loans, and all other requests: Reviews ongoing financial information and analyzes and compares to existing loan covenants to identify all potential risks. Based on these reviews the analyst recommends appropriate action, mitigates risks, and discusses action plans. • Regularly attends Loan Committee to provide feedback and input on various and complex commercial and agriculture deals. May create Loan Committee agendas and/or take minutes at meetings. • Regularly assists lender by meeting directly with or joining calls with the member/lender. • Understands all aspects of the credit presentation software and may serve as a subject matter expert. • Completes the scheduled financial analysis and credit presentation of Magnifi's watch and classified loan relationships. Manages and maintains the watch loan pipeline for prioritization purposes. • Cross trains to support the Construction Department and SBA Credit Analysts as needed. • Review and maintain accurate portfolio data including but not limited to: risk rating scores, individually evaluated tracking records, policy and technical exceptions, loan covenants, annual review and watch loan dates, and loan codes. • May create and monitor reports regularly to accurately manage risks and ensure accuracy within the loan portfolio. • Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.

Requirements

Bachelor's degree in Business, Accounting or Finance
Seven years credit/financial analysis experience; or equivalent knowledge and skills gained through a minimum of nine years related work experience, preferably in a financial institution.

Responsibilities

Provides mentoring, coaching, training, and feedback to Credit Analyst I and Credit Analyst II staff in order to assist them in achieving team goals.
May manage, direct, and coordinate the workload of an assigned team of Credit Analysts I and II for efficiency and prioritization. Gives feedback to the supervisor on and implements training plans with new team members.
May be assigned special projects, both on the credit team and inter-departmental related.
Represents the Credit Analyst team with Magnifi's Department/Strategic Initiatives by offering suggestions back to management on how decisions made may indirectly affect members or internal processes or procedures. Acts as a subject matter expert and resource when these initiatives are implemented.
Through coaching, ensures fellow Credit Analysts understand and adhere to procedures and policies which impacts member service standards and delivery.
Provides meaningful support and backs up Credit Analyst Supervisor in review of credit presentations for Credit Analyst I and Credit Analyst II positions, monthly/quarterly management reports, and pipeline management.
Stays current and well-informed on changes in the industry while keeping the team educated on how the changes could affect Magnifi's credit risk.
Conducts an analysis of financial information presented by agricultural and commercial loan/credit applicants that includes an assessment of liquidity, quality of collateral, quality of management, market position and overall business climate. Evaluates and documents the financial strength of existing businesses using loan origination and financial analysis software. Identifies and recommends risk ratings. Analyzes environmental reports to determine if there are environmental concerns on or near the property.
Completes credit presentation in partnership with lenders, checks for completeness and accuracy of data presented while making recommendations to structure, pricing, and other components required for a successful credit relationship. These credit presentations should fully detail the member's credit request and the financial analysis for purposes of credit decisions and ongoing documentation.
Maintains a detailed understanding of Magnifi's credit policy and acknowledges policy exceptions with sound reasoning.
For complex relationships, larger loans, and all other requests: Reviews ongoing financial information and analyzes and compares to existing loan covenants to identify all potential risks. Based on these reviews the analyst recommends appropriate action, mitigates risks, and discusses action plans.
Regularly attends Loan Committee to provide feedback and input on various and complex commercial and agriculture deals. May create Loan Committee agendas and/or take minutes at meetings.
Regularly assists lender by meeting directly with or joining calls with the member/lender.
Understands all aspects of the credit presentation software and may serve as a subject matter expert.
Completes the scheduled financial analysis and credit presentation of Magnifi's watch and classified loan relationships. Manages and maintains the watch loan pipeline for prioritization purposes.
Cross trains to support the Construction Department and SBA Credit Analysts as needed.
Review and maintain accurate portfolio data including but not limited to: risk rating scores, individually evaluated tracking records, policy and technical exceptions, loan covenants, annual review and watch loan dates, and loan codes.
May create and monitor reports regularly to accurately manage risks and ensure accuracy within the loan portfolio.
Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.

Benefits

Opportunities for Training and Development
Leadership Development
Job Level Advancement (ability to move up in your position through training and development)
Tuition Reimbursement
32 Hours Volunteer Paid Time Off
Paid Time Off - Begins accruing upon date of hire for a total of 4 weeks per year for FT; prorated for PT
Medical
Dental
Vision
Employer paid Life Insurance/AD&D
Employer paid Disability Insurance
Retirement Plan - Employer match up to 4%, eligible for annual profit sharing
Paid Parental Leave
Bonus/Incentive Program
Employee Engagement/Health and Wellness Programs