Credit Analyst

Purpose and Scope: The main objectives of this position are to review and determine viability and acceptability of new Correspondent and Broker clients, as well as status modifications, annual recertifications and on-going monitoring. This review will confirm high quality business partners, focus on organizational, operational, and financial analysis, as well as licensing and other compliance factors to ensure they meet established eligibility requirements. Another main function of this position will be to provide ongoing analytical analysis of the business relationships, identifying any risks. 

RESPONSIBILITIES, SPECIFIC DUTIES AND ESSENTIAL FUNCTIONS: 
• Perform a complete risk assessment of new/existing Correspondent and Broker relationships. Recommendation must outline all compensating factors if an exception is granted, all derogatory information must be noted and addressed and must outline the risk associated with the new/existing relationship (e.g. eligibility, loan quality, loan performance, financial viability, ownership structure and operational). Review must be completed within established cycle times. 
• Review third party vendor information/reports, collect all necessary data to address conflicting information or mitigate potential risk to the firm to ensure that regulatory, compliance and internal eligibility requirements are met prior to issuing an Approval/Denial recommendation. 
• Escalate to management and document risk issues uncovered during any and all reviews that present an increased or unacceptable level of risk to the firm 
• Timely loading of closed loan wiring instructions. Review bailee letters for acceptability in accordance with established policy and procedure 
• Communicate with potential new/existing customers and/or sales associates to identify and address any outstanding issues prior to determination of eligibility for Correspondent or Broker programs. 
• Ensure that all policies and procedures are followed regarding an existing/new Correspondent or Broker relationship. Ensure that proper management authorization is obtained prior to “official” approval in any systems. 
• Notify department management and monitor group of any quality deterioration or risk concerns and make appropriate recommendation to address specific situation. 
• Request and review quarterly financial statements and/or quality controls reports as may be required for on-going monitoring. 
• Ensure timely notification to in-house departments as necessary of all new relationships, inactivations, suspensions and/or terminations. 
• Stay informed of any industry changes in state laws/regulations, policies or procedures that my impact the quality or compliance of our credit reviews. 
• Annually assist in establishing Client Management’s approval and annual recertification policies and procedures to increase efficiencies, add quality, reduce non-value added steps and internal costs associated with these processes. 
• Complete special projects as required. 

EDUCATION AND/OR EXPERIENCE: 

• Bachelor’s degree in Accounting, Finance, Economics or Business Administration (or equivalent work experience). 
• Three to five years of financial analysis and/or risk assessment experience 
• Three to five year’s mortgage banking experience 
• Credit experience in formal bank or corporate program preferred 
• MS Office proficient 
• Must be detailed oriented to achieve results with accuracy and precision. 
• Must have strong communication skill, both oral and written. 
• Must be able to work as a team member with department associates, management and other in-house departments. 
• Must be self-motivated and able to work independently.

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