96 applicants

Company

Formic · 8 hours ago

Credit Officer

United States (Remote)

Full-time

Remote

Senior Level

$110K/yr - $160K/yr

7+ years exp

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Industrial AutomationManufacturing

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Responsibilities

Evaluate credit applications from small- to medium-sized businesses to assess creditworthiness, completeness, and compliance

Contribute to evolving Formic’s credit risk management processes and support both process improvement and capital markets initiatives

Work closely with various functions across the company to support the sales process while addressing risk and ensuring compliance with established policies

Facilitate an ease of doing business and have strong connectivity to executive leadership and sales

Support the sales and customer success teams internally and externally as the subject matter expert on the credit policy and credit underwriting processes

Conduct underwriting calls with customers, as necessary

Foster a sense of urgency to get things done

Strive for quality as well as timeliness, maintaining perspective as to the outcome of the decisions

Prepare credit memoranda that include financial analysis, repayment ability calculation, management structure, and guarantor reviews

Develop new credit underwriting strategies by evaluating underwriting performance, incorporating new data sources, and employing emerging technology

Identify technology and process improvements for streamlining and automating credit application/review process, leading to an enhanced customer experience

Support debt capital markets efforts by providing support for due diligence, structuring, and lender/investor communication

Qualification

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Credit underwritingFinancial statement analysisCredit risk managementCommercial banking experienceEquipment transactionsData automationPolicy developmentProject management

Required

A 4-year degree in any discipline, with preference for a Business Administration, Finance, Accounting, or Economics preferred, or equivalent experience/on the job training

7+ years of commercial credit underwriting experience in a commercial bank, investment bank, credit fund, or fintech company

Knowledge and experience in credit underwriting of equipment transactions is highly desirable experience

Strong technical skills including financial statement analysis and credit risk management

Excellent communication, presentation, and project management skills

Experience developing new credit underwriting policies and processes to address evolving business needs, with a focus on data and process automation

Benefits

Equity in Formic: your slice of ownership in a fast-growing Series A startup, backed by some of the best investors in the world

99% coverage on our base Medical, Dental, and Vision insurance plans (75% coverage for dependents) via Blue Cross Blue Shield and Guardian, with buy-up options, as well

FSA & DCFSA

Life insurance, Short-Term Disability, and Long-term Disability plans (covered at 100%) via Guardian

Employee Assistance Program

Paid parental leave

Company-sponsored 401k

Home Office Stipend for remote and hybrid roles

Monthly Phone/Internet Reimbursement

Flexible time off policy and 10+ company holidays