Field Examiner I

Renasant Bank•New Orleans, LA

8d•Hybrid

About The Position

This position serves Republic Business Credit, a subsidiary of Renasant Bank. The Asset-Based Lending (ABL) Field Examiner I role is responsible for conducting on-site evaluations of current and potential borrower financial records and operations. This role is crucial for verifying the existence, eligibility, and accurate valuation of collateral (primarily accounts receivable and inventory), identifying potential risks, and ensuring compliance within RBC’s lending agreements and credit policies. The Field Examiner I will initially perform examinations under the guidance of a senior examiner, with workpapers and reports reviewed prior to issuance, and is expected to progress to independently executing routine and recurring examinations as proficiency is demonstrated. More complex engagements will be performed in a supporting role alongside senior examination staff. The Field Examiner I will prepare comprehensive reports with key findings and recommendations, directly contributing to sound lending decisions and effective risk mitigation for our financial institution. The individual in this position will also serve as a professional ambassador for Republic Business Credit while in the field.

Requirements

Bachelor’s degree or equivalent work experience
1 to 3 years of ABL, commercial lending, audit, or accounting experience
Strong communication skills
Strong organizational skills
Strong understanding of accounting
Strong Microsoft Excel skills
Excellent verbal and written communication skills
Excellent attention to detail
Ability to work independently and in a team environment
Ability to handle clients in a robust but professional manner
Ability to meet deadlines, manage expectations, and handle multiple priorities simultaneously
Ability to work with a computer and browser-based platforms as well as various software including but not limited to Word, Excel, Google Sheets, Adobe, Zoom, and Teams
Strong Problem-solving and analytical skills with the ability to recommend appropriate solutions
Ability and willingness to travel by various means as required to fulfill the duties of the role

Responsibilities

Conduct On-Site and Remote Field Examinations: Independently plan, scope, and execute in-depth evaluations of a borrower's financial records, collateral (primarily accounts receivable and inventory), and operational practices, serving as the examiner of record from kickoff through final report issuance without day-to-day supervision, with a focus on complex engagements such as new business surveys (initial exams), inventory-intensive collateral, larger commitments, and problem credits.
Collateral Verification: Physically inspect and verify the existence, location, and condition of pledged collateral (e.g., inventory counts, review of shipping documents for receivables).
Accounts Receivable Analysis: Review accounts receivable aging reports to assess collectability, identify concentrations, and determine eligible collateral. Analyze sales, cash receipts, credit memos, and returns to calculate dilution and evaluate trends. Confirm the validity and existence of receivables through customer confirmations or other verification methods.
Inventory Analysis: Assess the quality, obsolescence, and marketability of inventory. Perform test counts and reconcile physical inventory to book records. Evaluate inventory valuation methodologies (e.g., FIFO, LIFO, average cost). Review inventory turnover and identify slow-moving or obsolete items. Verify inventory locations and ensure proper insurance coverage.
Financial Statement Analysis: Conduct in-depth analysis of financial statements (balance sheets, income statements, cash flow statements) to identify credit risks, trends, and deteriorating financial situations.
Borrowing Base Certificate (BBC) Validation: Reconcile and validate the accuracy of the borrower's submitted borrowing base certificate against their books and records and the loan agreement's eligibility criteria.
Internal Control Assessment: Evaluate the borrower's internal accounting systems, procedures, and financial reporting processes to assess their reliability, accuracy, and adherence to sound business practices.
Identify Risks and Red Flags: Proactively identify potential risks such as fraud indicators, operational inefficiencies, accounting irregularities, unrecorded liabilities (e.g., tax liens, payroll taxes), and compliance breaches.
Review of Other Assets/Liabilities: Review fixed assets, accounts payable, taxes (sales, payroll), and other liabilities that could impact the collateral or the borrower's financial health.
Loan Agreement Compliance: Ensure the borrower's operations and reporting are in compliance with the terms and covenants of the loan agreement.
Prepare Comprehensive Reports: Create detailed, clear, and concise written reports summarizing examination findings, highlighting key issues, risks, and recommendations.
Develop Executive Summaries: Craft executive summaries that provide a high-level overview of the examination results for senior management and credit teams.
Propose Recommendations: Suggest appropriate formula advance rates, reserves, and ongoing monitoring strategies based on examination findings.
Communicate Findings: Effectively communicate significant exam findings, concerns, and recommendations to lenders, credit personnel, and management both verbally and in writing.
Client Interaction: Professionally interact with borrower management and staff to gather information, clarify discrepancies, and discuss findings. This role represents the Company in the field and always requires professional behavior.
Maintain Professionalism: Represent the lending institution with the highest level of professionalism, integrity, and ethical conduct during all client interactions.
Utilize Technology: Proficiently use data analysis tools, Microsoft Excel, Word, PowerPoint, Outlook, and potentially specialized audit or data mining software.
Problem Solving: Demonstrate strong analytical and problem-solving skills to identify, investigate, and resolve complex financial and operational issues.
Continuous Learning: Stay informed about industry trends, accounting standards (GAAP), and ABL best practices.
Mentoring/Training: Actively train and mentor Field Examiner I staff, including reviewing their workpapers and providing on-the-job guidance during joint examinations; may lead complex examinations and participate in strategic planning.
Perform other related duties as needed to support the business as required.
Work in the office as scheduled or otherwise required by their direct manager, which is expected to be a minimum of three days a week, Tuesday through Thursday, and as business needs arise.