Western Equipment Finance · 2 weeks ago
Senior Credit Officer
Marshall, MN
Full-time
Onsite
Mid, Senior Level
$80K/yr - $120K/yr
5+ years expWestern Equipment Finance is seeking a Senior Credit Officer to focus on underwriting complex transactions. The role involves reviewing customer credit data, preparing credit memos, and making credit decisions while collaborating with the Credit and Sales Departments to assess larger financial transactions.
FinanceFinancial ServicesLeasing
No H1B
Responsibilities
Responsible for reviewing loan requests on both new and existing customers
This role involves direct communication with Business Development Managers (BDMs) and customers throughout the underwriting process
The analyst engages with borrowers to gather crucial information, develop insights into the business, assess management practices, identify risks, and structure loans effectively
Collaborating closely with BDMs, the analyst obtains financial data, supports negotiation processes, and contributes to deal structuring
The analyst will spread and analyze relevant financial data, including tax returns and financial statements of businesses and personal guarantors, projections and sensitivity analysis
Examine cash flow (stand alone and global) and review collateral adequacy
Perform appropriate market, industry and economic analysis as well as obtain personal credit and other associated business reports
Recommend risk ratings, identify key risks and mitigating factors
Additionally, the analyst independently prepares comprehensive credit presentations in line with policies and risk parameters, presenting requests that exceed personal lending authority to the Credit Committee for review and approval
Building and nurturing relationships with key borrowers is essential, involving a deep understanding of their businesses, industries, and growth strategies
The analyst conducts annual reviews to monitor these relationships and track business developments
Furthermore, this role encompasses mentoring, guiding, and training junior credit staff, reviewing and approving their work to ensure quality and compliance with established guidelines
Through these activities, the analyst plays a pivotal role in maintaining strong borrower relationships, facilitating effective underwriting processes, and fostering professional development within the credit team
Capable of multi-tasking, managing priorities, and meeting deadlines
Manage and continue to grow strong relationships with vendors, customers and business partners, as well as internal departments to drive business results and create a superior customer experience
Foster a close working relationship with departments throughout the organization to identify appropriate risk tolerance within new or existing business opportunities
Ensure updates/reports required in WEF’s Credit Policy are presented to the Board of Directors in an effective and efficient manner
Possess a high degree of proficiency in Excel and report generation with the ability to analyze, summarize and communicate findings
Assist with data mining and tracking to aid the team in creating department dashboards
Takes a lead role in projects
Project work can vary from process improvements, initiatives to supports organizational goals, including new market assessments, redefining standard operating procedures/underwriting guidelines or efficiency initiatives
Special projects will vary based on workload, organizational priorities and identified initiatives
Some travel may be required
Qualification
Required
Bachelor's Degree in Finance, Economics, or Business-related field required
5-7+ years of credit analysis/underwriting experience in a commercial lending capacity preferably with specialty equipment finance and/or C&I lending experience
5-7+ years of experience in large ticket underwriting required
Thorough understanding of cash flow analysis, financial statement analysis and tax returns, and personal credit reports
Demonstrated ability to write concise financial analysis and more complex credit memoranda
Formal credit training beneficial
Benefits
Health Benefits: Medical, dental, and vision insurance
Retirement Benefits: 401 (k), ESOP participation
Paid Time Off (PTO): PTO, sick leave, and holidays
Other Benefits: life insurance, employee assistance programs, professional development opportunities, wellness programs, educational assistance.
Company
Western Equipment Finance
Western Equipment Finance provides equipment finance and leasing services for a wide range of industries.
51-200 employees
Funding
Current Stage
Growth StageCompany data provided by crunchbase