Credit Analyst

About this role

• **Deerwood Bank** is a growing, family owned, community bank with 14 locations in Minnesota and is hiring a **Credit Analyst** to work in its Baxter, MN branch.
• This individual will participate in the commercial banking process by providing research and analysis to support the Business Bankers in their underwriting decisions.
• Tasks associated with this position include spreading and analyzing financial statements, preparing credit approval presentations, business and guarantor cash flow analysis and financial projections as necessary.
• **Major Responsibilities and Duties:** * Spread and analyze interim and year-end financial statements, borrowing base certificates, personal financial statements and tax returns, ensuring timely completion of required reports.
• * In conjunction with Business Bankers, assist in the preparation of written commercial loan analyses in a concise but complete format identifying major trends and 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.
• * 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.
• * Monitor loan covenants and reporting requirements as necessary.
• Check covenant compliance as annual and interim financial statements are received and spread.
• * Coordinate with other staff to ensure timely completion of month-end reporting as necessary.
• * Build on acquired skills to analyze increasingly complex companies and industries, eventually assuming more responsibility for credit approval presentations.
• * Learn SBA 504 and 7(a) loan parameters as well as other risk mitigation techniques and programs like USDA.
• * Make suggestions to the Chief Credit Officer to optimize the use of data and resources available to analyze risk.
• Create efficiencies using Ai and other technological tools.
• * Assists Chief Credit Officer with reporting to the Officer's Credit Committee, Director's Credit Committee, or Board of Directors on an "as needed" basis.
• * Perform other duties as apparent or assigned.
• **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.
• **Knowledge, Skills and Abilities:** * College degree in business, accounting, finance or comparable employment experience.
• * Formal credit/cash flow analysis training, and well-developed credit analysis and analytical skills.
• * Strong interpersonal skills with demonstrated excellence in working effectively as an individual and as part of a team.
• * Strong personal motivation and attention to detail * Understanding of economics, finance, accounting, financial statements and GAAP.
• * Ability to discuss financial and collateral issues with Business Bankers and customers.
• * The ability to independently prioritize work, multi-task and meet deadlines.
• * Excellent written, verbal and analytical skills.
• * Effective technical report writing skills.
• * Strong computer skills with experience with Microsoft Office Suite and financial spread sheet software.
• **Work Schedule**: Monday - Friday, 8:00am - 5:00pm **Hiring Pay Rate:** $55,000 - $75,000 per year, depending on qualifications.
• **Benefits** are available to employees working 30 or more hours per week on the first of the month following date of hire.
• * Medical insurance, including virtual telemedicine and mental health counseling * Health Savings Account * Flexible Spending Account (health, limited purpose health, and dependent care) * Dental insurance * Vision insurance * Life insurance (basic and voluntary) * Short-term disability insurance * Long-term disability insurance * Long-term care insurance * Adoption Assistance Program * Employee Assistance Program * PTO * Paid Volunteer Time Off * Paid holidays * 401(k) with company match (eligible on the first of the month following 2 months of employment) * Financial wellness education * Free or reduced fees for banking products and services * Employee Referral Bonus

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