Senior Credit Officer

WESTERN STATE BANK • Devils Lake, ND

45d • Onsite

About The Position

Our Senior Credit Officer is focused on underwriting complex transactions within the organization. The position requires a comprehensive understanding of various industries, credit policies, and guidelines, along with the ability to exercise independent judgment. The analyst will possess lending authority aligned with departmental objectives, tenure, and delegation requirements. Active participation in the Credit Committee involves contributing insights during discussions on underwriting decisions and structuring, aiming to promote learning and development. Collaboratively, the analyst engages with the Credit and Sales Departments to assess and underwrite larger financial statement transactions. Key responsibilities include reviewing customer credit data, preparing and presenting credit memos, and making credit decisions within assigned authority, aligned with the organization's vision, values, and team directives.

Underwriting

Responsible for reviewing loan requests on both new and existing customers. This role involves direct communication with Business Development Managers (BDMs) and customers throughout the underwriting process. The analyst engages with borrowers to gather crucial information, develop insights into the business, assess management practices, identify risks, and structure loans effectively. Collaborating closely with BDMs, the analyst obtains financial data, supports negotiation processes, and contributes to deal structuring. The analyst will spread and analyze relevant financial data, including tax returns and financial statements of businesses and personal guarantors, projections and sensitivity analysis. Examine cash flow (stand alone and global) and review collateral adequacy. Perform appropriate market, industry and economic analysis as well as obtain personal credit and other associated business reports. Recommend risk ratings, identify key risks and mitigating factors. Additionally, the analyst independently prepares comprehensive credit presentations in line with policies and risk parameters, presenting requests that exceed personal lending authority to the Credit Committee for review and approval. Building and nurturing relationships with key borrowers is essential, involving a deep understanding of their businesses, industries, and growth strategies. The analyst conducts annual reviews to monitor these relationships and track business developments. Furthermore, this role encompasses mentoring, guiding, and training junior credit staff, reviewing and approving their work to ensure quality and compliance with established guidelines. Through these activities, the analyst plays a pivotal role in maintaining strong borrower relationships, facilitating effective underwriting processes, and fostering professional development within the credit team. Capable of multi-tasking, managing priorities, and meeting deadlines.

Relationship Management

Manage and continue to grow strong relationships with vendors, customers and business partners, as well as internal departments to drive business results and create a superior customer experience. Foster a close working relationship with departments throughout the organization to identify appropriate risk tolerance within new or existing business opportunities.

Data Management & Reporting

Ensure updates/reports required in WEF’s Credit Policy are presented to the Board of Directors in an effective and efficient manner. Possess a high degree of proficiency in Excel and report generation with the ability to analyze, summarize and communicate findings. Assist with data mining and tracking to aid the team in creating department dashboards.

Special Projects

Takes a lead role in projects. Project work can vary from process improvements, initiatives to supports organizational goals, including new market assessments, redefining standard operating procedures/underwriting guidelines or efficiency initiatives. Special projects will vary based on workload, organizational priorities and identified initiatives. Some travel may be required.

Requirements

• Bachelor’s Degree in Finance, Economics, or Business-related field required
• 5-7+ years of credit analysis/underwriting experience in a commercial lending capacity preferably with specialty equipment finance and/or C&I lending experience
• 5-7+ years of experience in large ticket underwriting required with a thorough understanding of cash flow analysis, financial statement analysis and tax returns, and personal credit reports
• Demonstrated ability to write concise financial analysis and more complex credit memoranda
• Capable of multi-tasking, managing priorities, and meeting deadlines
• Possess a high degree of proficiency in Excel and report generation with the ability to analyze, summarize and communicate findings

Nice To Haves

• Formal credit training beneficial

Responsibilities

• Reviewing loan requests on both new and existing customers
• Direct communication with Business Development Managers (BDMs) and customers throughout the underwriting process
• Engaging with borrowers to gather crucial information, develop insights into the business, assess management practices, identify risks, and structure loans effectively
• Collaborating closely with BDMs, the analyst obtains financial data, supports negotiation processes, and contributes to deal structuring
• Spread and analyze relevant financial data, including tax returns and financial statements of businesses and personal guarantors, projections and sensitivity analysis
• Examine cash flow (stand alone and global) and review collateral adequacy
• Perform appropriate market, industry and economic analysis as well as obtain personal credit and other associated business reports
• Recommend risk ratings, identify key risks and mitigating factors
• Prepare comprehensive credit presentations in line with policies and risk parameters, presenting requests that exceed personal lending authority to the Credit Committee for review and approval
• Building and nurturing relationships with key borrowers is essential, involving a deep understanding of their businesses, industries, and growth strategies
• Conduct annual reviews to monitor these relationships and track business developments
• Mentoring, guiding, and training junior credit staff, reviewing and approving their work to ensure quality and compliance with established guidelines
• Manage and continue to grow strong relationships with vendors, customers and business partners, as well as internal departments to drive business results and create a superior customer experience
• Foster a close working relationship with departments throughout the organization to identify appropriate risk tolerance within new or existing business opportunities
• Ensure updates/reports required in WEF’s Credit Policy are presented to the Board of Directors in an effective and efficient manner
• Assist with data mining and tracking to aid the team in creating department dashboards
• Takes a lead role in projects

Benefits

• Medical, dental, and vision insurance
• 401 (k), ESOP participation
• PTO, sick leave, and holidays
• life insurance, employee assistance programs, professional development opportunities, wellness programs, educational assistance

What This Job Offers

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