Business Credit Officer

Description

Job Title: Business Credit Officer

Department: Business Services

Reports to: Director of Business Services

Hours per Week: 40 hrs/week Salary Exempt

Hybrid/Remote: This job is considered Hybrid and may work up to 2 days remote

Welcome to Financial Plus Credit Union (FPCU) – 'The Place where it’s Possible.'

At FPCU, we believe in the power of collaboration, embrace inclusivity as a strength, and are driven by a shared commitment to success. Our community-centered approach goes beyond financial services; it's about fostering connections and making a positive impact.

Join us, and be part of an environment that prioritizes wellness, encourages continuous learning, and opens doors to developing you into the person you want to be. Explore the opportunities that await you at FPCU – where you aren’t just making a living but joining a PLACE where you can REACH your goals.

The Business Credit Officer analyzes member business loan requests, renewals and modifications to determine the likelihood of repayment, ensure that loan terms, structure, covenants and conditions are appropriate, arrive at a final approve/decline decision, and assign an appropriate risk rating. Along with new requests, completing extensions, renewals and making recommendations for deteriorating credits, while independently managing their workflow and communication with team members.

They must be well-versed in sound commercial lending principles, understand and effectively apply the credit union’s MBL loan policy, and current Federal and state laws and regulations. They are expected to proactively partner with the Business Relationship Manager, Portfolio Manager and Business Services team, to help identify potential issues with loans within the portfolio.

• Analyze the financial information on existing and potential members to assess the borrower’s and guarantor’s financial condition and ability to replay a loan request. Investigate all available sources of credit and financial information including reporting services and credit bureaus. Understand the market(s) and industry in which the member does business and assess the collateral pledged as security.
• Prepare and present financial information, industry data, economic influences and other market information in the required format and analyze in detail trends, ratios, cash flow, etc. Prepare approvals which are accurate and insightful, which identify and examine risks, analyze sources of repayment, cite policy exceptions and evaluate collateral.
• Monitor an existing commercial (real estate and C&I) loan portfolio to ensure proper risk ratings and early identification of potential problems.

• Conduct a daily review, approval and disposition of commercial overdrafts.
• Follow MBL procedures and policies to ensure loans are underwritten and within proper guidelines.
• Knowledge of different loan types and the requirements that apply.
• Ensures compliance with all federal and state laws and regulations, including the Bank Secrecy Act, Patriot Act, and Office of Foreign Asset Controls, and should request legal interpretation as necessary. Must ensure subordinates are also compliant with such laws and regulations
• Perform other duties as assigned.
• Job is considered hybrid with up to 2 days remote.

• A Bachelor’s (BS or BA) degree or higher from a four-year accredited institution with a major in finance, accounting, economics or business preferred.
• Minimum of five years of relevant experience with commercial credit analysis, commercial lending, loan structuring, underwriting and portfolio management or equivalent. Formal commercial credit training preferred.
• Advanced knowledge of business tax returns and business financial statements.
• Advanced knowledge of financial analysis including cash flow, probability, liquidity, leverage and solvency.
• Ability to apply sound judgment in the application of analytical conclusions to credit approval, loan structure and management recommendations.
• Ability to adhere to internal policies as well as external policies and regulations set forth by the NCUA.
• Candidate…