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in Cincinnati, OH
Loss Mitigation Financial Analyst - Full-time / Part-time
Hours | Full-time, Part-time |
---|---|
Location | Cincinnati, OH Cincinnati, Ohio |
About this job
Job Description
Requirements: Bachelor’s Degree in Business, Accounting or Finance, and/or five years banking or finance
experience; knowledge of financial analysis, key ratios, and strong mathematical background
preferred
Full-Time position: 40 hours per week, hourly position
Salary: Commensurate with experience
Paid time off: Up to 15 days per the calendar year
The following is a detailed listing of the performance objectives, measurements, and responsibilities as Loss Mitigation Financial
Analyst (“FA”) for Cooperative Business Services LLC (“CBS”). Cooperative Business Services, LLC is a Credit Union Service
Organization (“CUSO”) that facilitates the origination, underwriting, closing, servicing, portfolio management and loss mitigation of
business loans funded by area credit unions.
This position will be working in the Loss Mitigation department at CBS. The FA position will require a certain degree of creativity
and latitude and work under the direct supervision of the Vice President of Loss Mitigation.
The FA is primarily responsible for working with Loss Mitigation (“LM”) to support, the daily duties of financial analysis and
monitoring credit while performing other tasks as needed. Also, a successful FA will be able to prepare annual or more frequent
credit memorandums and financial spreads, and additional monitoring reports to assess the risks within the portfolio accurately.
Critical thinking skills are required as well as the ability to maintain creativity and flexibility to manage multiple tasks. The ideal
candidate will possess a desire to learn, and ability to work with numerous internal partners and build relationships. The FA will be
responsible and accountable for both performing and non-performing credits and will create synergy between departments by
openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. In addition,
the FA will be accountable for always doing the right thing for customers and colleagues, and ensure that actions and behaviors
drive a positive customer experience. While operating within the CUSO's Business Lending Policy and Operating Procedures, the
FA will achieve results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
Qualifications:
A successful candidate for a FA must have:
Background or strong interest in finance
Excellent quantitative and analytical skills
High attention to detail and ability to work independently
Strong and decisive problem solver
Effectively deals with change and shifting priorities
Proven ability to multi-task, prioritize workload and meet deadlines
Strong interpersonal skills
Solid communication and presentation skills, both written and verbal
Proficient PC Skills including but not limited to Microsoft Office programs
Loss Mitigation Financial Analyst Responsibilities:
The FA will work directly with loans in LM portfolio and will support the day to day needs of the department. Classification of
member business loans may include; performing, non-performing, non-accrual, death defaults, troubled debt restructure, charge-off,
bankruptcy, deficiency or OREO. The FA responsibilities include, but are not limited to:
Maintaining accurate and timely information on Fiserv and loan servicing platforms
Supporting LM officers in managing/collecting delinquent payments
Executing established procedures for the successful resolution of LM accounts
Analyzing pertinent reports and function-specific data/metrics to keep LM officers apprised of complex or high-risk situations
Obtaining required business/personal financials and debt schedules
Assistance with gathering information for periodic financial reviews
FA will provide support to LM officers by performing site visits as needed
Gathering due diligence utilizing vendors/software: Dun and Bradstreet, RMA, PACER, etc.
Interim, Quarterly, and Annual financial updates
o At a minimum – all loans managed or monitored by LM will require a financial update including updated credit
memorandum, spreads, loan history, a personal credit report dated within past 12 months, a DNB report and
PACER report also dated within last 12 months.
o FA shall coordinate efforts to compile information as received and meet with appropriate LM staff to discuss and
provide details for an annual update to lead and participant credit unions.
o FA will utilize Sageworks to spread business, personal and where appropriate, affiliate business tax returns
o FA will use Sageworks templates for reviews and spreads
o FA will ensure accuracy of financial input
Analyze tax returns
Analyze income statements and balance sheets
Problem Loan Asset Report and Write-down Analysis (“PLAR”)
o FA will work with Risk Management to ensure data fields are updated in Fiserv
o FA will ensure taxes, insurance, and financial ticklers are accurate and up-to-date
o FA will pull PLAR’s five business days after quarter-end
FA will review information for accuracy and provide to AVP or VP of LM
Tax Return and Financial request letters
o Review monthly reporting from Fiserv to ensure accuracy of ticklers
o Work with personnel in Corporate Administration to facilitate mail merge and letters
o Review letters for accuracy, utilizing Fiserv reporting
Assistance with post-mortem analysis of defaulted loans
o Quarterly update of database
o Identification of trends
Dashboard
o Updating source documentation for dashboard compilation
o Identification of patterns within regions and models
Stress-testing
o Working with LM or PM loans to randomly sample pool of recent risk rated 4 loans
Customer Service:
The FA will be expected to communicate well with CBS management and credit union personnel. They will be prompt with responses to voice messages and emails, returning calls with 24 business hours and responding to emails within the same business day. All internal emails should be answered with high priority. The FA will inform VP, AVP and PM, credit union personnel and appropriate legal counsel, and senior management of the status of various projects.
Financial Analyst will be responsible for general support to the Loss Mitigation department. Additional duties may be assigned from time-to-time or on a permanent basis.