Credit Analyst

Company: Carolina Small Business Development Fund

Location: Raleigh, NC

Job Function: Credit


Background

Job Title: Credit Analyst

Reports to: VP, Chief Credit Officer

Salary Grade: 10

FLSA Status: Exempt

Location: Raleigh Main Office/Hybrid Remote(Based in North Carolina)

Who we are: Carolina Small Business Development Fund (CSBDF) is a nonprofit and certified community development financial institution (CDFI). We are passionate and committed to providing support to small businesses across the state. Our Mission is to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses. CSBDF provides assistance to small business in four major ways: as a partner, as a trusted guide, as an advocate for small businesses, and as an accessible funding source. Our work supports our vision to create economic opportunity for all people.

Summary

Nature of Work: The Credit Analyst supports the credit function and business solutions function as the loan originator. This position will gather the necessary paperwork and documentation required for someone to apply for a loan. Their duties include carefully reviewing applications to confirm that all essential fields have been filled out, organizing additional application materials and submitting applications on schedule. This role will collaborate closely with internal clients including the Business Solutions, Credit, and Finance teams along with external clients.

Supervision Received/Exercised: Works under the general supervision of the VP, Chief Credit Officer and has no direct supervisory responsibilities.

Responsibilities

Essential Job Functions: The following duties ARE NOT intended to serve as a comprehensive list of all duties performed by all employees in this classification. Shown are duties intended to provide a representative summary of the major duties and responsibilities. Incumbent(s) may not be required to perform all duties listed and may be required to perform additional, position-specific duties.

Credit Functional Area:

  • Obtains and reviews credit reports, CAIVRS, Lexis Nexis, and other necessary documentation for accuracy, compliance, and acceptability.
  • Completes a preliminary financial statement review and document quality check for any borrowing entity, corporate guarantors and/or affiliates, and principles in the transaction.
  • Prepares initial financial spread using company approved credit analysis workbook for new small business loan requests and existing borrower annual reviews.
  • Requests and receives tax transcripts from the IRS as deemed necessary to appropriately validate qualifying income.
  • Enters Community Advantage SBA loan requests into E-Tran for review by SBA Loan Guaranty Processing Center (LGPC).
  • Assists with collection of financial statements for existing CSBDF borrowers for annual review process.
  • Assists credit group in generating final Credit Recommendation Memorandum.
  • Performs other duties as assigned.

Requirements

Qualifications:

Experience:

  • Bachelor’s Degree in Business, Finance, or other such field that supports the organization’s model.
  • Training and experience in commercial credit analysis, commercial credit underwriting and/or commercial loan processing.
  • Any combination of experience and training that can be considered equivalent to the education preference.

Knowledge:

  • Working knowledge of the following lending regulations: Equal Credit Opportunity Act (REG B), Truth in Lending Act (REG Z), Fair Credit Reporting Act, Fair Lending Act, OFAC (The Office of Foreign Assets Control), CIP (Customer Identification Program), E-SIGN Regulations, RFPA (Right to Financial Privacy), REG P (Privacy of Consumer Financial Information), and any other applicable regulations.
  • General knowledge of North Carolina State lending and bankruptcy law.
  • Knowledge of U.S. Small Business Administration 7a Community Advantage loan requirements.
  • Thorough understanding of Commercial Loan, Title, Asset Valuation, Environmental Assessment, and other business loan related practices and documentation.
  • Thorough understanding of business entity documentation.
  • Knowledge and understanding of rules and regulations governing lending activities including SBA 7a Community Advantage program requirements.
  • Familiar with Salesforce and Tea software applications is preferred.

Skills/Abilities:

  • Adept implementation of data management tracking.
  • Exceptional negotiation, persuasion, and execution skills.
  • Strong communication, organization, and detail orientation skills.
  • Maintains confidentiality in processing sensitive client information using discretion and tact.
  • Supports a quality credit culture and operates within a team-based lateral organization structure.
  • Maintains and supports a shared collaborative team culture in person and virtually.
  • Ability to meet reasonable deadlines and prioritization of workflow within a changing and fast paced work environment.

Compensation and Benefits

We offer a competitive salary that depends on prior experience. Our benefits package includes Medical, Dental, Vision, Short Term Disability, Long Term Disability, 401k Account with employer match, plus generous vacation, and sick time. The job description does not constitute an employment agreement between the employer and employee and is subject to change by the employer as the needs of the employer and requirements of the job change.

How to Apply

You can visit our Careers Page to submit an application for consideration.