53 applicants

Company

Formic · 5 hours ago

Senior Credit Officer

United States (Remote)

Full-time

Remote

Senior Level, Lead/Staff

$140K/yr - $180K/yr

15+ 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

Provide leadership for all facets of the credit and portfolio management team, being both very hands-on and advising based on deep professional credit expertise

Develop a strong group of cross-functional collaborators by providing training on credit underwriting and the credit process as a whole to both the current sales team as well as future hires

Manage third-party vendors, including PayNet, Dun & Bradstreet, and Equifax

Develop and analyze credit opportunities with an emphasis placed on complex transactions, making decisions and taking measured risk using all available data and insights

Prepare and oversee comprehensive credit write-ups, approving and/or rejecting deals within approved credit authority, then providing recommendations beyond credit authority

Monitor our portfolio for past due accounts, and assist as needed to rectify delinquent ones

Ensure continuous improvement, including providing enhancements to all processes, including credit approval write-ups, initial credit reviews, credit application, and more

Participate in the identification of problem areas and the development of resolutions to address them

Continue to develop, maintain and adhere to credit and collection policies and procedures

Liaise with third party resources, including Formic’s funding partners

Qualification

Find out how your skills align with this job's requirements. If anything seems off, you can easily click on the tags to select or unselect skills to reflect your actual expertise.

Credit UnderwritingFinancial Statement AnalysisCredit Risk ManagementPortfolio ManagementCustomer Credit AnalysisDocumentation PrinciplesUCC Filing RequirementsWordExcelProactive LearningHands-on LeadershipVendor 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

15+ years experience in management, credit, collections, financial statement analysis and/or related disciplines of commercial credit underwriting in a commercial bank, investment bank, finance company, credit fund, or fintech company

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

Expertise in financial statement analysis on complex transactions

Demonstrated knowledge and ability to analyze customer credit summaries and past due accounts

Proficient in Word, and Excel with ability to adapt to other software requirements

Thorough knowledge of documentation principles, billing, invoicing and payment concepts, as well as UCC filing requirements and their applicability to bankruptcy laws and regulations

Proven ability to learn and take proactive steps to increase knowledge showing a commitment to the business

Possession of a proactive 'do business' approach

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