Credit Analyst

Deerwood Bank • Baxter, MN

5d • $55,000 - $75,000 • Onsite

About The Position

Deerwood Bank is a growing, family-owned community bank with 14 locations in Minnesota. The Credit Analyst works in the bank’s Baxter, Minnesota branch and participates in the commercial banking process by providing research and analysis to support Business Bankers’ underwriting decisions. The role includes spreading and analyzing financial statements, preparing credit approval presentations, and conducting business and guarantor cash flow analysis and financial projections as necessary.

The Credit Analyst works with Business Bankers to process client and prospect financial information accurately and promptly, identify credit and collateral risks, monitor loan covenants and reporting requirements, and contribute to reporting and month-end processes. The analyst builds skills to work on increasingly complex companies and industries and may take on greater responsibility for credit approval presentations. The position also supports the Chief Credit Officer with committee and Board reporting as needed and seeks opportunities to improve risk analysis through effective use of data, resources, AI, and other technology.

Requirements

• College degree in business, accounting, or finance, or comparable employment experience.
• Formal credit and cash flow analysis training, with well-developed credit analysis and analytical skills.
• Strong interpersonal skills and demonstrated ability to work effectively both independently and as part of a team.
• Strong personal motivation and attention to detail.
• Understanding of economics, finance, accounting, financial statements, and GAAP.
• Ability to discuss financial and collateral issues with Business Bankers and customers.
• Ability to independently prioritize work, multitask, and meet deadlines.
• Excellent written, verbal, and analytical skills.
• Effective technical report-writing skills.
• Strong computer skills, including experience with Microsoft Office Suite and financial spreadsheet software.

Responsibilities

• Spread and analyze interim and year-end financial statements, borrowing base certificates, personal financial statements, and tax returns, and complete required reports on time.
• Assist Business Bankers in preparing concise but complete written commercial loan analyses that identify major trends and issues.
• Develop credit-analysis expertise to identify credit risks and provide informed analysis and suggestions to lenders.
• Work with Business Bankers to ensure client and prospect financial information is processed and distributed accurately, consistently, and promptly to manage financial risk.
• Monitor loan covenants and reporting requirements, including checking covenant compliance when annual and interim financial statements are received and spread.
• Coordinate with other staff to complete month-end reporting on time as necessary.
• Build skills to analyze increasingly complex companies and industries and assume more responsibility for credit approval presentations.
• Learn SBA 504 and 7(a) loan parameters and risk mitigation techniques and programs such as USDA.
• Suggest ways to the Chief Credit Officer to optimize the use of available data and resources for risk analysis, including creating efficiencies with AI and other technological tools.
• Assist the Chief Credit Officer with reporting to the Officer’s Credit Committee, Director’s Credit Committee, or Board of Directors as needed.
• Meet the requirements of statutes and regulations pertaining to or governing the position and department.
• Use independent judgment in assessing financial and collateral risk, determining appropriate collateral advance rates, and handling customer service issues.
• Understand organizational and departmental priorities and manage workload with nominal direction.
• Perform other duties as apparent or assigned.

Benefits

• Medical insurance, including virtual telemedicine and mental health counseling
• Health Savings Account
• Flexible Spending Account for health, limited-purpose health, and dependent care
• Dental insurance
• Vision insurance
• Basic and voluntary life insurance
• Short-term disability insurance
• Long-term disability insurance
• Long-term care insurance
• Adoption Assistance Program
• Employee Assistance Program
• PTO
• Paid Volunteer Time Off
• Paid holidays
• 401(k) with company match
• Financial wellness education
• Free or reduced fees for banking products and services
• Employee Referral Bonus

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level