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Magnifi Financial · 17 hours ago

Credit Analyst III

Melrose, MN

Full-time

Onsite

Senior Level

$70K/yr - $104K/yr

7+ years exp

Magnifi Financial is a member-owned organization focused on enhancing the lives of its members and community through strength, service, and growth. They are seeking a Credit Analyst III to analyze financial information of loan applicants, evaluate repayment ability, and provide mentorship to junior analysts.

BankingFinancial ServicesWealth Management

Comp. & Benefits

Responsibilities

Provides mentoring, coaching, training, and feedback to Credit Analyst I and Credit Analyst II staff in order to assist them in achieving team goals

May manage, direct, and coordinate the workload of an assigned team of Credit Analysts I and II for efficiency and prioritization. Gives feedback to the supervisor on and implements training plans with new team members

May be assigned special projects, both on the credit team and inter-departmental related

Represents the Credit Analyst team with Magnifi’s Department/Strategic Initiatives by offering suggestions back to management on how decisions made may indirectly affect members or internal processes or procedures. Acts as a subject matter expert and resource when these initiatives are implemented

Through coaching, ensures fellow Credit Analysts understand and adhere to procedures and policies which impacts member service standards and delivery

Provides meaningful support and backs up Credit Analyst Supervisor in review of credit presentations for Credit Analyst I and Credit Analyst II positions, monthly/quarterly management reports, and pipeline management

Stays current and well-informed on changes in the industry while keeping the team educated on how the changes could affect Magnifi’s credit risk

Conducts an analysis of financial information presented by agricultural and commercial loan/credit applicants that includes an assessment of liquidity, quality of collateral, quality of management, market position and overall business climate. Evaluates and documents the financial strength of existing businesses using loan origination and financial analysis software. Identifies and recommends risk ratings. Analyzes environmental reports to determine if there are environmental concerns on or near the property

Completes credit presentation in partnership with lenders, checks for completeness and accuracy of data presented while making recommendations to structure, pricing, and other components required for a successful credit relationship. These credit presentations should fully detail the member’s credit request and the financial analysis for purposes of credit decisions and ongoing documentation

Maintains a detailed understanding of Magnifi’s credit policy and acknowledges policy exceptions with sound reasoning

For complex relationships, larger loans, and all other requests: Reviews ongoing financial information and analyzes and compares to existing loan covenants to identify all potential risks. Based on these reviews the analyst recommends appropriate action, mitigates risks, and discusses action plans

Regularly attends Loan Committee to provide feedback and input on various and complex commercial and agriculture deals. May create Loan Committee agendas and/or take minutes at meetings

Regularly assists lender by meeting directly with or joining calls with the member/lender

Understands all aspects of the credit presentation software and may serve as a subject matter expert

Completes the scheduled financial analysis and credit presentation of Magnifi’s watch and classified loan relationships. Manages and maintains the watch loan pipeline for prioritization purposes

Cross trains to support the Construction Department and SBA Credit Analysts as needed

Review and maintain accurate portfolio data including but not limited to: risk rating scores, individually evaluated tracking records, policy and technical exceptions, loan covenants, annual review and watch loan dates, and loan codes

May create and monitor reports regularly to accurately manage risks and ensure accuracy within the loan portfolio

Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial

Qualification

Financial analysisCredit risk assessmentLoan origination softwareCredit policy knowledgeTeam leadershipCoachingCommunity relationsCommunication

Required

Bachelor's degree in Business, Accounting or Finance

Seven years credit/financial analysis experience; or equivalent knowledge and skills gained through a minimum of nine years related work experience, preferably in a financial institution