Credit Analyst

Deerwood Bank • Baxter, MN

4d • Onsite

About The Position

Deerwood Bank, a growing family-owned community bank with 14 locations in Minnesota, is hiring a Credit Analyst for its Baxter, Minnesota branch. The role supports the commercial banking process by researching and analyzing financial information to assist Business Bankers with underwriting decisions. Work includes spreading and analyzing financial statements, preparing credit approval presentations, and analyzing business and guarantor cash flow and financial projections as needed.

The Credit Analyst helps evaluate financial and collateral risk, monitor loan covenants and reporting requirements, and ensure client financial information is processed accurately and promptly. The position builds analytical capability over time to support analysis of increasingly complex companies and industries and to take on more responsibility for credit approval presentations. It also supports credit committee and board reporting as needed, identifies ways to improve analysis through available data and technology, and performs other duties as assigned.

The role requires a moderate degree of independent judgment in assessing financial and collateral risks, determining appropriate collateral advance rates, and handling customer service issues. The analyst is expected to understand organizational and departmental priorities and manage workload with nominal direction. The schedule is Monday through Friday, 8:00 a.m. to 5:00 p.m. Hiring pay is $55,000–$75,000 per year, depending on qualifications. Benefits are available to employees working 30 or more hours per week, beginning on the first of the month following hire, subject to the stated eligibility terms.

Requirements

• College degree in business, accounting, finance, or comparable employment experience.
• Formal credit and cash flow analysis training.
• Well-developed credit analysis and analytical skills.
• Strong interpersonal skills and demonstrated ability to work effectively 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.
• Ability to use a moderate degree of independent judgment and manage workload with nominal direction.

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.
• Monitor loan covenants and reporting requirements, including checking covenant compliance when annual and interim financial statements are received and spread.
• Coordinate with staff to complete month-end reporting on time as needed.
• 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 programs and techniques, including USDA programs.
• Make suggestions to the Chief Credit Officer to optimize the use of available data and resources for risk analysis.
• Create efficiencies using 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 requirements for statutes and regulations governing the position and department.
• Use independent judgment to assess transaction financial and collateral risk, determine appropriate advance rates for the type and quality of collateral, and handle customer service issues.
• Prioritize and manage workload with nominal direction, and 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