Teachers Federal Credit Union · 1 week ago
Commercial Credit Analyst II
Hauppauge, NY
Full-time
Onsite
Mid Level
$35/hr - $43/hr
3+ years expTeachers Federal Credit Union has been a leading institution in guiding members towards financial stability for over 70 years. The Commercial Credit Analyst II evaluates the creditworthiness of businesses applying for loans by analyzing financial documents and making recommendations, while also monitoring borrower health to mitigate risks.
BankingFinance
Responsibilities
Analyze the creditworthiness of businesses seeking to borrow money by collecting and reviewing various documents, e.g. tax returns, company website and financial statements. Present written credit memorandums to recommend approval or denial of business loan applications
Contact the applicant or Business Development Officer when a final loan decision is made. Arrange for the disbursement of funds through the issuance of a credit card, payment made to a third party, or deposit of funds into an account. Ensure that all necessary documents are signed. Prepare closing documents for business loans and lines of credit
Prepare a formal commitment letter for all commercial mortgage loans approved which outlines all conditions that must be met before the closing. Arrange for appraisals and environmental studies and ensures that fees for these services are collected from the borrower. Obtain and review all proofs of insurance from the borrower and send all closing documents to the attorney’s office. Work with attorney’s office on processing of commercial loans in closing status
Ensure that all insurance coverages on commercial vehicles and commercial property are maintained at adequate levels. Contact insurance companies to ensure that insurance renewals have been completed. Contact borrowers for proof of new insurance and ensure that Teachers is listed as a lien holder
Monitor commercial mortgages by performing annual reviews on commercial borrowers to determine annual debt service coverage ratio. Contact borrowers when problems arise
Assist in the reporting to the Federal Government on the status of all small business loans made
Perform other duties as needed upon request from immediate Supervisor
Qualification
Required
Bachelor's degree in a relevant field required or eight years of directly related experience
Minimum three years of credit analysis experience required
Ability to read, understand and analyze business owners personal tax returns and company tax returns and/or financial statements
Ability to read and review personal and business credit reports
Knowledge of LOS system
Excellent computer skills – i.e. MS Word, MS Excel, Company and Business Lending systems
Benefits
This position is eligible for our annual discretionary bonus program.
Some positions within the credit union also qualify for quarterly performance incentives
Paid time off for vacation, personal days, and holidays
401(k) company contribution
Teachers pays 100% of Dental & Vision premium
Tuition reimbursement is offered to full-time employees
Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers
Company
Teachers Federal Credit Union
Teachers Federal Credit Union is a company which develops finance related apps for iPhone
501-1000 employees
Funding
Current Stage
Late StageLeadership Team
Brad Calhoun
President/CEO
Denise McGlone
Chief Financial Officer
Recent News
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