Credit Analyst
Description

Deerwood Bank is a growing, family owned, community bank with 12 locations in Minnesota and is seeking to hire Credit Analysts to work primarily with our Northern offices. These positions can potentially be located at a number of our locations across the state. The individual will participate in the commercial banking process by providing research and analysis to support the Business Bankers in their underwriting decisions. 


Primary Position Objective:

Participate in the Commercial Banking process by providing research and analysis that will support the Business Bankers in the underwriting process. Spread and analyze year-end and interim financial statements and monitor monthly borrowing base certificates to ensure collateral coverage is adequate. Prepare credit approval presentations including credit and risk rating analysis, guarantor cash flow analysis through analysis of personal financial statements and tax returns, cash flow analysis for commercial real estate and financial projections as necessary and directed by department staff and the CCO.


Major Responsibilities and Duties:

  1. Spread and analyze interim and year-end financial statements, borrowing base certificates, personal financial statements and tax returns, ensuring timely completion of required reports. 
  2. In conjunction with Business Bankers, assist in the preparation of written commercial loan analyses in a concise but complete format identifying major trends, issues. Develop a strong foundation in analysis in order to understand and to identify credit risks. Use that foundation to make informed analysis and suggestions to the lenders.
  3. Work with Business Bankers to ensure financial information from clients and prospects is processed and distributed in an accurate, timely and consistent manner to ensure financial risk is managed appropriately.
  4. Monitor loan covenants and reporting requirements as necessary. Check covenant compliance as annual and interim financial statements are received and spread. 
  5. Coordinate with other staff to ensure timely completion of month-end reporting as necessary.
  6. Build on acquired skills to analyze increasingly complex companies and industries, eventually assuming more responsibility for credit approval presentations.
  7. Learn SBA 504 and 7(a) loan parameters as well as other risk mitigation techniques and programs like USDA.
  8. Make suggestions to the CCO to optimize the use of data and resources available to analyze risk.
  9. Assists CCO with reporting to the Officer’s Credit Committee, Director’s Credit Committee, or Board of Directors on an “as needed” basis.
  10. Perform other duties as apparent or assigned.


This position will work in the office daily and is not currently eligible to work remotely. In addition, we will not offer relocation assistance to candidates who live outside of MN. 


Regulatory Compliance Requirements:

Responsible for meeting the requirements for all statutes/regulations pertaining to or governing their positions/departments.


Independent Judgment:

  • Must use a moderate degree of independent judgment when determining the financial risk and collateral risk associated with each transaction analyzed as well as the appropriate advance rates for type and quality of collateral and the appropriate handling of customer service issues. 
  • Must understand organizational and departmental priorities, and effectively manage the workload with nominal direction. 
Requirements

Desirable Knowledge, Skills and Abilities:

  1. College degree in business, accounting, finance or comparable employment experience, required.
  2. Formal credit/cash flow analysis training, and well-developed credit analysis and analytical skills.
  3. Strong interpersonal skills, with a demonstrated excellence in working effectively as an individual and as part of a team.
  4. Strong personal motivation and attention to detail
  5. Understanding of economics, finance, accounting, financial statements and GAAP.
  6. Ability to discuss financial and collateral issues with Business Bankers and customers.
  7. The ability to independently prioritize work, multi-task and meet deadlines.
  8. Excellent written, verbal and analytical skills.
  9. Effective technical report writing skills.
  10. Strong computer skills with experience with Microsoft Office Suite and financial spreadsheet software.

 

If you are excited to join one of Minneapolis/St Paul Business Journal’s 2023 Best Places to Work, come find out what nice & simple banking is all about! We want YOU to join the talented team at Deerwood Bank. The deadline to apply is February 2, 2024.


About Deerwood

Founded in Deerwood, Minnesota in 1910, Deerwood Bank is a community bank that strives to take a complicated financial world and make it nice & simple. Nice in how we treat our staff and loyal customers. Simple in our products - no fuss here... simple and easy-to-understand products and services. With 12 locations around Minnesota, we're bringing nice & simple banking to your community!


The above statements are intended to describe the general nature of work of the employee. Deerwood Bank has the authority to change and/or add any functions, duties, and responsibilities as management deems necessary to meet business and organizational need.