This exciting Credit Officer position will have a hybrid schedule and can sit anywhere within their Twin Cities footprint.
Salary Range: $90,000 - $140,000 base salary (est.)
Benefits:
- Medical, Dental, and Vision
- 401K with Company Match
- Health Savings Accounts with Company Match
- Medical, Limited Purpose and Dependent Flexible Spending Accounts
- Generous PTO Accrual & Flexible Time Off Programs
- Paid Holidays
- Paid Volunteer Time
- 100% Paid Parental Leave for Birthing & Non-Birthing Parents
- Military Leave
- 100% Paid Short-Term and Dependent Disability
- Company Paid Long-Term Disability
- Mortgage, Banking & Wealth Management Benefits
- Flexible Work Environment
- Annual Anniversary Party
Roles & Responsibilities:
- Reads, reviews, and understands various financial statements, including but not limited to tax returns, balance sheets, profit and loss statements, aging's, borrowing base certificates, debt schedules, equipment lists, business credit reports, credit bureau reports, rent rolls, lease agreements, fall cash flow, personal financial statement, environmental reports, and appraisals.
- Prepares financial spreads for various types of commercial and real estate businesses and individuals establishing a direct obligation as a borrower or guarantor.
- Prepares credit memos for new or renewing loan requests that will be presented for loan decisions. Has a thorough understanding and is able to accurately communicate the following aspects of the credit memos:
- Financial statement analysis including trend, ratios, margins, sensitivity, and pro forma.
- Cash flow analysis, including traditional and UCA.
- Collateral analysis including BBC review, real estate appraisals, equipment appraisals, contracts, and purchase agreements.
- Guarantor analysis including cash flow, personal financial statement, and credit report.
- Risk rating
- Analyzes findings through underwriting due diligence and narrates information in a comprehensive analysis using various data analysis tools (charts, formulas, graphs, etc.).
- Analyzes a commercial applicant's and guarantors' creditworthiness by reviewing financial statements and identifying key relationship risks.
- Evaluates credit quality and suggest proper risk rating based on analysis in the Credit Memo. Ensures relationships are appropriately risk-rated during the underwriting process and promptly recommends risk-rating changes to the Banker.
- Completes independent analysis of the most complex borrowers and new loan requests with limited guidance from the direct manager.
- Provides prompt turnaround on customer and credit requests while communicating the status of loans in process with the Banker and/or direct manager.
- Reviews and articulates findings within third-party collateral reports to the Banker and/or direct manager.
- Uses knowledge of the Loan Policy to detect deviations, exceptions, and variances on loan proposals. Ensures all credit requests are properly approved or exceptions documented based on Loan Policy standards.
- Assists the Banker in the completion of quarterly Problem Loan Reports on the Bank's risk-rated customer.
- Completes annual reviews, risk rating changes, and other file comments to preserve the credit integrity of the loan portfolio.
- Completes ongoing analysis of the large and/or complex credits of the Bank, including assessment of financial statements, covenant calculations, and compliance with loan agreements.
- Provides ongoing monitoring of borrowers' financial indicator covenants for compliance with loan documents.
- Makes recommendations for loan structure and appropriate covenants.
- Meets with and interviews customers to develop a thorough understanding of the loan request and the business relationship.
- Make recommendations to credit committees regarding credit approval or disapproval.
- Provide knowledgeable, well-articulated responses to questions received in credit committee meetings.
- Actively involved in credit team meetings.
- Assist Credit Supervisors in the development and training of credit analysts.
- Responsible for sharing your knowledge and mentoring other credit analysts.
- Serve as a resource to the Bank's Credit Analysts, offering advice on all aspects of the credit risk analysis process.
- Encourage collaboration between analysts, lending staff, and locations.
- Complies with responsibilities related to the Bank Secrecy Act (BSA), Anti-Money Laundering Act (AML), Patriot Act, and Office of Foreign Assets Control Regulations (OFAC). This includes participating in any required training and promptly complying with all reporting requirements.
- Knowledgeable on loan products with government guarantees (SBA or FSA).
- The position may require travel to various Bank offices.
- Performs duties outside the normal scope as assigned.
- Other duties and special projects as assigned.
Required Skills & Experience:
Credit Officer I
- Bachelor's degree in Accounting, Finance, or related field
- 7+ years of experience as a Commercial or Agricultural Credit Analyst
- Proficient with Microsoft Office Suite, including Word, Excel, Outlook, and PowerPoint
- Familiarity with lending regulations, rules, and banking laws
- Strong analytical skills and problem-solving skills, as well as attention to detail
- Able to develop and maintain internal and external relationships
Credit Officer II
- Bachelor's degree in Accounting, Finance, or related field
- 9+ years of experience as a Commercial or Agricultural Credit Analyst
Credit Officer III
- Bachelor's degree in Accounting, Finance, or related field
- Minimum of 10 years of relevant experience with requisite competencies.
Senior Credit Officer
- Bachelor's degree in Accounting, Finance, or a related field
- Minimum of 15 years of relevant experience with requisite competencies.
About Versique
Versique: /ver-seek/ adj. being both versatile and unique; n. a high-performance recruiting firm specializing in executive leadership search, direct hire, and interim hiring solutions.
Versique Executive, Professional, & Interim Recruiting is a locally owned and operated hiring and placement firm based in the Twin Cities of Minnesota. With specialized practice areas across our three divisions, Versique delivers tailored expertise to a wide range of industries. What sets us apart is our team of recruiters—seasoned professionals who have worked in the very fields they now hire for, providing unmatched industry insight and connections.
We believe people are more than just resumes—they are transformative, unlocking the potential for organizational growth and success.
Versique is proud to be award-winning, earning recognition on the Inc. 5000 list of fastest-growing private companies and the Minneapolis-St. Paul Business Journal's Fast 50 list for 2023. We are also consistently recognized as a Star Tribune Top Workplace and were named a Best Place to Work in 2022 by the Minneapolis/St. Paul Business Journal.
Let's find your people, together.
Versique is an equal-opportunity employer committed to creating a diverse workforce. We consider all qualified applicants regardless of race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status.
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