Note: The job is a remote job and is open to candidates in USA. Milestone Bank is seeking a Senior SBA Credit Analyst to evaluate the creditworthiness and risk of commercial borrowers and determine whether applicants can fulfill requested debt obligations. The role underwrites and processes SBA 7(a) and SBA 504 loans, makes credit decisions within delegated authority, conducts due diligence, supports sales and documentation teams, and mentors junior analysts.
Responsibilities
- Underwrite SBA 7(a) and SBA 504 loan files, with expertise in complex loan structures including, but not limited to change of ownership and construction
- Perform due diligence on prospective and existing customers
- Enter, update, and retrieve data for credit applications and ensure accuracy
- Review and decision small business loan requests within approved loan authority
- Maintain expected turnaround time in a fast-paced environment and the ability to multi-task
- Analyzes credit data and financial statements of individuals or businesses to identify the degree of risk involved in extending credit
- Ability to determine credit worthiness of applicants and personal guarantors using supporting information, such as Experian, Trans Union, Experian Business, and Paynet. Analyst should have a solid understanding of Experian, Trans Union, Experian Business, and Paynet
- Ensure that applications are in compliance with the organization’s requirements/policies
- Use various sources, those included and not included in the guidelines, to complete due diligence, which includes but is not limited to, verifying the applicant’s legal business name, place of business, time in business, ownership, etc
- Take the initiative and be creative in researching and finding information not available through normal sources/channels (e.g. county records, city records, articles, bank references, bank statements, trade references, etc.)
- Process SBA 7(a) and SBA 504 loan files, with expertise in complex loan structures including, but not limited to change of ownership and construction
- Ability to think outside of the box. Understand, identify, and consider mitigants to items that are not clear-cut or to items that fall short of the guidelines. Analyst to have the confidence and autonomy to make decisions in gray areas
- Candidate will have approval authority and must maintain confidence and feel comfortable in decision-making. Possess autonomy, and must be able to work and make decisions with minimal supervision. Make independent business decisions and be creative in formulating appropriate solutions (e.g. structure, options, etc.)
- Willingness to provide assistance to sales as well as other departments. Analyst should work closely and effectively with the sales department and documentation to resolve issues with applications or missing information
- Demonstrated success at teaching various skills to junior SBA Credit Analyst including system and computer applications, SBA Underwriting best practices, and collateral requirements
- Maintain an in-depth working knowledge of all SBA products and services and ensure that the Business Banking leadership team and market leaders are alert to new developments or modifications of the SBA
- Complete internal and external post-closing items
- Complete the underwriting process for deal amendments and restructurings
- Complete special projects and assignments as requested
- Ability to interact with the customer when required
- Adhere to company policies
- Performs other related duties as assigned
Skills
- • Total work experience of 6 years including 4 to 5 years of underwriting and credit experience in the SBA industry
- • Excellent verbal and written communication skills
- • Must be proficient in basic software applications such as Microsoft Word, Excel, Outlook, and Internet
- • Basic understanding of relevant equipment, policies, procedures, and strategies used in credit analysis
- • Must be attentive to detail and possess excellent verbal and written communication skills
- • Must be highly organized and able to manage several detailed tasks and processes concurrently
- • Ability to work both in a team environment & independently both virtually and in the office (hybrid structure)
- This is a remote position that can report to our Troy, MI, Salt Lake City, UT or Westminster, CO office
- Due to business and compliance requirements, this position is not open to candidates residing in certain states or jurisdictions. At this time, we are unable to consider applicants who reside in California, Washington State, Washington, D.C., Massachusetts, Oregon, Maine, New York, Connecticut, Illinois, Montana, or Colorado
- While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers and handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate. Professional office setting, a primarily sedentary position requiring long periods of time working at a computer. May be required to work in excess of 40 hours per week and other than normal business hours, such as holidays, evenings, and weekends as business demands
- • Bachelor's degree in Accounting, Economics, Finance, Statistics, or Mathematics preferred
Benefits
- Remote position that can report to the Troy, MI, Salt Lake City, UT, or Westminster, CO office
- Ability to work both in a team environment and independently, virtually and in the office (hybrid structure)
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