Credit Analyst III

About the Role

The Credit Analyst III collaborates with relationship managers in gathering and evaluating commercial credit-related information on current and prospective customers. This includes preparing written reports of analysis, which involve in-depth financial statement analysis, historical and projection-based cash flow and ratio analysis, suggested credit structure, general industry analysis, and identified risks. This position may be located in Sioux Falls, SD; Aberdeen, SD; or Rapid City, SD.

Responsibilities

• Reads, reviews, and understands various financial statements, including tax returns, balance sheets, profit and loss statements, agings, borrowing base certificates, debt schedules, equipment lists, credit bureau reports, rent rolls, lease agreements, and appraisals.
• Prepares financial spreads for various types of commercial and real estate businesses, municipalities, non-profits, and individuals acting as direct obligation borrowers or guarantors.
• Analyzes creditworthiness of commercial applicants and guarantors by reviewing loan applications, spreading historical and projection-based financial statements, calculating cash flows, leverage, and liquidity ratios, evaluating collateral, conducting research on borrowers and key industries, and identifying risks.
• Analyzes findings and authors comprehensive reports using data analysis (charts, formulas, graphs) and written narrative.
• Evaluates credit quality and suggests proper risk ratings based on the analysis of the most recent financial information.
• Ensures compliance with applicable regulations and stays updated on changes in federal regulations and FIB credit policy requirements.
• Assists Relationship Managers in preparing reports for quarterly monitoring of classified and criticized commercial relationships.
• Completes financial performance metric covenant testing using prepared financial spreads.
• Manages assigned portfolios.
• Participates in a quality control program, providing monthly reviews of general forms, spreads, and analysis, along with feedback and mentoring.
• Contributes to the production and development of training materials and assists in delivering training through various channels.
• Participates in a mentorship program with lower-level analysts to guide and develop credit acumen.
• Acts as a resource for Relationship Managers and other analysts on questions related to Loan Policy, loan structuring, and underwriting recommendations.

Qualifications

• Education and Experience:
  • Bachelor's Degree in Business, Finance, or related field required.
  • 7-9 years of banking experience and/or equivalent combination of education and experience required.
  • 4-6 years of experience in a similar position required.
  • Experience with financial spread software required.
  • Commercial banking experience preferred.
• Knowledge, Skills, and Abilities:
  • Strong organization and time management skills.
  • Excellent written and verbal communication skills.
  • Ability to develop and maintain internal and external relationships with Relationship Managers, Credit Officers, and Risk Management Personnel.
  • Ability to work in a fast-paced environment, set priorities, and meet strict deadlines with flexibility to adapt to changing priorities.
  • Self-motivated with the ability to assist in credit risk decisions.
  • Strong analytical and problem-solving skills, with attention to detail.
  • Proficient with Microsoft Office Suite (Word, Excel, Outlook, PowerPoint) and able to acclimate quickly to other programs.

Physical Demands and Working Environment

• Dexterity of hands/fingers to operate a computer keyboard and mouse – Frequently.
• Lifting – Occasionally (up to 10 lbs).
• Sitting – Frequently.
• Noise Level – Moderate.
• Typical Work Hours – M-F (8-5).
• Regular and Predictable Attendance – Required.

Benefits

• Generous Paid Time Off (PTO) in addition to paid federal holidays.
• Student debt employer repayment program.
• 401(k) retirement plan with a 6% match.