Northwoods Bank of Minnesota
Park Rapids, MN
Asst. Credit Administrator
The Assistant Credit Administrator reports directly to the Chief Credit Officer. This position’s roles include credit analysis, loan review, collections and appraisals, ensuring that all duties are completed on time and in accordance to the banks policies and procedures.
As credit analyst, responsibilities will include analyzing the credit worthiness of current and potential borrowers.
As loan reviewer, responsibilities will include completing annual loan reviews and board reporting according to the Loan Policy.
As collector, responsibilities will include calling on past due accounts, making arrangements for payments to bring accounts current, working with originating lenders on plans for customers to get current, and repossessions and foreclosure actions.
For appraisals, responsibilities will include providing written internal valuations of real estate collateral according to the Bank's Appraisal Policy. It also includes reviewing external real estate appraisals according to the Bank’s Appraisal Policy.
Credit Analyst: 25%
• Spreads financial statements as requested. Typically in the form of tax returns and sometimes internal or accountant prepared statements.
• Provides analysis, orally or in writing, to lender regarding the credit worthiness of the borrower.
• Attends Credit Committee, provides analysis to Credit Committee regarding the credit worthiness of the borrower.
• Reviews incoming financial statements. Updates and/or completes financial spreads and covenant monitoring worksheets to be forwarded to the appropriate Lender.
• Prepares modified credit presentations on new and renewing loans that do not require Loan Committee approval including exposure summary, financial and cash flow analysis, collateral analysis, covenant and risk rating review.
Loan Review: 25%
• Completes annual reviews on all required relationships including a complete analysis of annual financial statements, collateral evaluation, payment history, risk rating review and any adverse industry or economic changes.
• Completes all annual loan reviews according to the Bank's Loan Policy and reports to the Board of Directors the progress of said reviews.
• Will perform pre and post-closing reviews as requested.
Loan Collection: 20%
• Is responsible for the collection of all loans 15 to 60 days past due.
• Will make collection calls, write collection letters and make outside calls when necessary.
• Will work with Chief Credit Officer and Lenders on collections of all loans and discuss current situations with all Lenders prior to taking any legal or recovery actions.
• Is responsible for sending demand letters for delinquent loans according to the Bank's Policies.
• When necessary, will provide to the Credit Committee, an analysis and recommendation for the collection of delinquent loans.
• When necessary, will arrange for the repossession or foreclosure of collateral.
• Will manage the repossession and foreclosure process until such time as the bank is in possession of the repossessed property, or a Sheriff's Sale has occurred.
• Is responsible to understand and adhere to the collection and foreclosure policies of the Federal Home Loan Bank programs, along with any other programs for which the Bank may be servicing loans.
• Will conduct internal evaluations of real estate collateral as requested in accordance with the Bank's Appraisal Policy.
• Performs appraisal reviews as needed to complete transactions in accordance with the Bank's Appraisal Policy.
• Manages the Bank’s approved appraiser list in accordance with Bank Policies and Procedures.
• As part of the overall team of bank employees, may be requested to assist in the support of other bank activities.
• Represents the bank in the local community through participation in community events.
• Completes other duties as requested.
Bachelor’s degree preferably in Business Administration/Accounting/Finance or other related field, or three to five years related experience and/or training; or equivalent combination of education and experience. Bank credit analysis and/or lending experience is a plus.
• Ability to be self-driven and taught
• Strong written and verbal communication skills
• Ability to multi-task and organize priorities, flexible
• Strong aptitude for problem solving
• Medium level of computer literacy with knowledge of Microsoft Office
• Maintains strict confidentiality
• Maintains high level of focus and accuracy
• Strong analytical skills
• Ability to work at a fast pace with high accuracy
• Ability to communicate and work with co-workers effectively
How to Apply:
Please submit resume to firstname.lastname@example.org