Credit Analyst – Commercial Lending - Provincetown
Summary: The Credit Analyst contributes to the achievement of the Commercial Loan Department’s goals as it relates to revenue and portfolio growth, asset quality and compliance.
Specifically, the Credit Analyst will work closely with the commercial lenders to manage the credit risk and quality of the commercial loan portfolio. Primary responsibility is to provide credit analysis of new and existing loans by researching and gathering information in order to prepare a loan approval memorandum, conducting financial analysis of business entities and individuals, and assigning and verifying the appropriate risk rating for new and existing borrowers. All duties and responsibilities will be performed while adhering to Seamen’s Bank policies and procedures, and all applicable laws and regulations.
Essential Duties and Responsibilities include the following:
- Conduct in-depth analysis of company financial statements and tax returns to determine credit strengths and weaknesses of existing and potential borrowers. The analysis includes, but is not limited to, business and global cash flow analysis, trend analysis, collateral valuation, guarantor analysis, and interest rate sensitivity analysis.
- Review, analyze and interpret credit reports, personal financial statements, and tax returns. Spread financial information utilizing financial statement spreading software.
- Prepare credit memorandum for new loan requests, renewals, reviews, modifications, and extensions.
- Accurately identify loan policy exceptions and mitigating factors.
- Confer with the Senior Vice President of Commercial Lending to ensure relationships are appropriately risk rated.
- Work with loan officers and other staff to follow-up on missing financial information and other documents necessary for the credit analysis process.
- Maintain a tracking mechanism for the receipt of financial information and other loan covenant requirements from borrowers and for the completion of annual reviews.
- Coordinate with loan officers to annually request current financial information from borrowers with lines of credit and/or with larger borrowing relationships, including, but not limited to preparing request letters for the loan officers.
- Provide assistance in the general administration of the commercial loan portfolio.
- Understand and maintain a thorough knowledge of the bank’s credit policies and compliance requirements.
- Maintain knowledge of State Laws and lending regulations as they pertain to commercial loans.
- Provide other support as needed.
Qualifications and/or Educational Experience: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.
- A Bachelor’s degree (BS/BA) from a 4-year college or university which includes at least 18 credit hours of accounting/finance courses, and with 2-4 years of bank-related experience or training; or the equivalent combination of education and credit/accounting related experience.
- Ability to read, analyze, and interpret financial statements, tax returns, business periodicals, professional journals, technical procedures, laws and governmental regulations.
- Ability to write reports, business correspondence, and other forms of written communications as may be assigned.
- Effective verbal skills and the ability to present information and respond to questions from managers, customers, and the general public.
- Adept analytical and reasoning ability and problem-solving capabilities.
- Detailed-oriented, with strong organizational and time management skills, and a positive attitude and commitment to outstanding service.
- Responsible and independent worker with strong interpersonal skills that interacts well with other employees, customers, and the general public.
- Ability to prioritize and multi-task.
- Ability to handle sensitive and confidential situations and documentation.
- Proficient computer skills
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee must have the ability to sit at a computer for long periods of time and be able to place and retrieve information in and from file cabinets.
Closing Specialist – North Truro
Summary: The role of the Closing Specialist is to work with the Originator to manage all aspects of Real Estate Closing, both in-house, and those that are closed by outside attorneys.
Essential Duties and Responsibilities include the following:
- Review approved mortgage loans to determine conditions that must be met prior to closing, such as adequate hazard insurance.
- Communicate with borrowers or closing attorneys to ensure that specified documents are in place prior to closing.
- Answer questions regarding closing requirements.
- Ensure with closing attorney that all title issues are met and that the loan can be properly recorded.
- Ensure that all pertinent dates are updated in origination system and that all required documents are produced and reviewed for accuracy.
- Prior to finalizing closing package, review the loan file to ensure that all required early documentation is on file with applicants signature in place; review final closing package to ensure that all required documents are included and completed accurately.
- Maintain all timing requirements associated with the completion and delivery of the Closing Disclosure to ensure timely closings.
- Prepare documents for delivery to closing attorney for closing.
- Coordinate with closing attorney to fund loan upon confirmation that recorded mortgage is in place.
- Upon receipt of executed closing package from closing attorney, Closing Specialist reviews the file and, with the assistance of Loan Servicing personnel follows-up with Attorney for any items that may be incomplete, incorrect, or missing from the file.
Additional responsibilities may include:
- Processing requests for payoff inquiries and discharges to third parties in accordance with bank procedures.
- Other miscellaneous day to day duties as instructed by a manager or supervisor.
Qualifications and/or Educational Experience: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- A Bachelor’s degree (B.A) from a 4-year college or university with 2-4 years of bank-related experience or training; or the equivalent combination of education and experience.
- Ability to read, analyze, and interpret financial reports/statements.
- Requisite mathematical skills, communication skills (verbal and written), computer skills, reasoning ability, and problem-solving capabilities expected of a senior processor closing specialist.
Supervisory Responsibilities: This job has no supervisory responsibilities.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee must have the ability to sit at a computer for long periods of time and be able to place and retrieve information in and from file cabinets.
- Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.
AAP/EEO STATEMENT: Seamen’s Bank is committed to a firm policy in favor of equal employment opportunity and will abide by all applicable state and federal regulations by not discriminating against any applicant or employee on the basis of race, religion, color, creed, sex, age, national origin, citizenship status, marital status, sexual orientation, gender identity and expression, disability or veteran status.
Our commitment to equal employment opportunities shall include employment, upgrading, promotion, demotion, transfer, leaves or other absences from work, layoff, compensation and benefits, selection for training or other education, professional opportunities and conflict resolution.
It is also the policy of Seamen’s Bank to take affirmative action to employ and to advance in employment, all persons regardless of their status as woman, minority or individuals with disabilities or protected veterans, and to base all employment decisions only on valid job requirements. Please inform us of any necessary accommodations required during the application process and/or at any time during employment.