Credit Analyst
Reports to: Executive Vice President
Supervises: None
Position Summary:
The Credit Analyst is responsible for analyzing, underwriting, and evaluating real estate and business loan applications to ensure sound credit decisions, appropriate risk management, and exceptional member experience. This position will underwrite first mortgage, fixed-rate home equity, HELOC, and member business loans in accordance with the Credit Union's lending policies, procedures, risk tolerance, and applicable regulatory requirements.
The Credit Analyst reviews financial information, credit history, collateral, repayment capacity, and other relevant factors to determine creditworthiness and structure loans appropriately. The position will exercise lending authority as assigned and provide well-supported recommendations to management when loans fall outside established authority.
This position works closely with lenders, loan operations, and management to ensure loans are processed accurately, efficiently, and in compliance with Credit Union policies and applicable laws and regulations.
Key Responsibilities:
Credit Analysis & Underwriting
- Analyze and underwrite residential real estate loans, including first mortgages, fixed-rate home equity loans, and home equity lines of credit.
- Analyze and underwrite member business loans, including commercial real estate, equipment and other business-purpose financing.
- Review loan applications, credit reports, financial statements, tax returns, income documentation, debt schedules, collateral information, and other supporting documentation to determine creditworthiness.
- Evaluate a borrower's ability and willingness to repay, including cash flow, debt service coverage, liquidity, leverage, credit history, and other appropriate financial ratios such as loan-to-value, debt-to-income, etc.
- Assess the quality, value, and sufficiency of collateral and identify potential risks or mitigating factors.
- Determine appropriate loan structure, terms, pricing, collateral, guarantees, and other credit conditions within established policies and lending authority.
- Approve loans within assigned lending authority and prepare clear, well-supported recommendations for loans requiring additional approval.
- Identify and communicate credit risks, exceptions, policy concerns, and other factors that may impact the overall credit decision.
- Clearly document the rationale for credit decisions, including financial analysis, identified risks, mitigating factors, and any approved exceptions.
- Ensure underwriting decisions are consistent, objective, and aligned with the Credit Union's risk tolerance and lending strategy.
Member Business Lending & Portfolio Management
- Conduct annual and periodic reviews of member business relationships as required by policy and regulatory guidelines.
- Review updated financial statements, tax returns, credit reports, rent rolls, operating statements, debt schedules, and other financial information as appropriate.
- Monitor existing business relationships for changes in financial condition, repayment capacity, collateral position, or other indicators of increased risk.
- Monitor loans approaching maturity and coordinate with the borrower, Loan Officer, and Loan Operations team to facilitate renewals, extensions, or other appropriate loan arrangements.
- Maintain thorough and timely documentation of financial analysis, credit recommendations, annual reviews, and other portfolio monitoring activities.
- Assist with identifying emerging risks within the business loan portfolio and communicate concerns to lending management.
- Support portfolio reporting and analysis, including delinquency, concentrations, risk trends, loan performance, and other management reporting.
Compliance & Risk Management
- Maintain current knowledge of Credit Union lending policies, procedures, lending authority, products, systems, and applicable regulatory requirements.
- Ensure lending decisions comply with applicable federal and state laws and regulations, including NCUA, CFPB, Equal Credit Opportunity Act, Fair Housing Act, Truth in Lending Act, RESPA, flood insurance requirements, appraisal requirements, and other applicable residential and member business lending regulations.
- Ensure compliance with Credit Union policies and procedures, including BSA/AML/OFAC, related to residential real estate and member business lending.
- Maintain awareness of secondary market and investor requirements applicable to residential real estate lending, as appropriate.
- Identify potential compliance, operational, documentation, or credit risks and escalate concerns to appropriate management.
- Participate in regulatory examinations, internal audits, loan reviews, and compliance reviews, providing requested documentation and information in a timely manner.
- Maintain confidentiality of member and Credit Union information at all times.
Service & Team Support
- Provide prompt, accurate, and professional support to lenders, loan operations, and other internal partners throughout the lending process.
- Help ensure members receive timely and consistent communication throughout the loan process.
- Collaborate with lenders and lending management to structure loans that appropriately meet member needs while maintaining sound credit standards.
- Coordinate with coworkers inside and outside the Lending Department to ensure efficient workflow and appropriate segregation of duties.
- Assist with workflow prioritization during periods of high volume, staffing shortages, or other operational needs.
- Provide backup support for lending functions as needed, including loan documentation, title and insurance requirements, adverse action notices, audit requests, and other lending support activities.
- Assist with monthly and periodic lending projects, including portfolio reviews, post-mortem analysis, rate studies, risk monitoring, and other lending-related reporting.
- Stay current on changes in lending practices, regulations, market conditions, and credit risk trends.
- Participate in the development and implementation of new lending products, programs, and processes as assigned.
- Maintain a positive, team-oriented approach and contribute to continuous improvement within the Lending Department.
- Participate in departmental and all-staff meetings.
- Perform other duties as assigned to support the credit union’s mission and goals.
Qualifications:
Experience
- A minimum of three (3) years of experience in credit analysis, loan underwriting, financial analysis, commercial lending, residential real estate lending, or a related financial services field is preferred.
Education
- Bachelor's degree in Finance, Accounting, Business Administration, or a related field preferred.
- Equivalent combination of education, training, and relevant experience may be considered.
Skills
- Strong understanding of credit analysis and lending principles.
- Ability to analyze financial statements and determine repayment capacity.
- Ability to calculate and interpret financial ratios, including debt service coverage, leverage, liquidity, debt-to-income, and loan-to-value.
- Strong understanding of residential real estate and business lending practices.
- Ability to identify credit risk and appropriately balance risk mitigation with member needs.
- Strong attention to detail and ability to recognize inconsistencies or potential risks in financial and loan documentation.
- Strong analytical, organizational, and problem-solving skills.
- Ability to make sound, independent decisions within established lending authority.
- Ability to clearly communicate credit decisions and recommendations, both verbally and in writing.
- Ability to manage multiple priorities and meet established service and turnaround expectations.
- Strong computer and financial analysis skills with the ability to learn and effectively use lending and core processing systems.
- Ability to work collaboratively with lenders, loan operations, management, and other internal and external partners.
- Commitment to providing exceptional member experience while maintaining sound lending practices.
Pay: From $55,000.00 per year
Benefits:
- 401(k)
- 401(k) 4% Match
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Profit sharing
- Vision insurance
Work Location: In person
