Credit Analyst / Underwriter (Cincinnati, OH)
SUMMARY: The Credit Analyst, located in Cincinnati, OH, is responsible for gathering, analyzing and interpreting credit information for existing and prospective customers in order to assess credit quality for approval or denial and to minimize risk and potential loss on automobile loan packages in an assigned region. This position has contact with automobile dealers.
Successfully meeting or exceeding the following:
Accurate and reliable assessment of credit applications and successful negotiation with dealerships and sales team while monitoring loss and delinquency rates.
Maintaining a service level agreement for responding to applications.
Continued application of industry and regulation knowledge to the identification and proposal of opportunities in order to improve company procedures and effectiveness.
Successfully meeting expected override rates in order to reduce risk of portfolio, while maintaining a successfully performing portfolio.
ROLE AND RESPONSIBILITIES include but not limited to:
Manage a profitable portfolio by taking ownership of an assigned region.
Assess and negotiate application loans with dealers, maintaining awareness and vigilance of loss and delinquency rates.
Foster dealer relationships that ensure volume objectives and maintain credit quality through regular communication (via phone and quarterly travel/field contact).
Work with the sales team to maintain successful purchase to approval ratio.
Conduct joint dealer calls with Dealer Development Representatives (DDR) and/or Sales Managers on an as needed basis.
Analyze information to form a judgment of the strengths, weaknesses and risk associated with application. Determine probability of default (PD) ratings as appropriate and make decisions for approval or denial of an application based on guidelines established by senior management and federal laws. This includes evaluating the following:
Financial stability and repayment ability of customer, including both historical and projected cash flow.
Adequacy of loan structures between dealers and customers.
Collateral valuation and coverage in relation to loan conditions and terms.
Monitor declined applications and assigning appropriate adverse action reasons.
Help to develop a best in class Credit Department.
Ensure completion of all required training courses and initiatives.
Maintain thorough knowledge of industry, competition and position; apply understanding in these areas to process improvements and strategy recommendations.
Additional responsibilities as assigned by leadership.
The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Willingness and ability to work from 10:00 a.m. - 7:00 p.m. EST, 1-2 late nights from 1:00 p.m. - 10:00 p.m. EST, and 2 Saturdays per month for business coverage responsibilities.
Ability to travel 10-15% per year, including overnight travel, to an assigned territory.
Valid Driverâs License for regional travel.
Clear working knowledge of consumer credit, including knowledge of credit laws and regulations.
Demonstrated successful ability to read, analyze and interpret credit reports, financial information and legal documents and draw valid conclusions based on facts.
Evidence of ability to effectively communicate and present information to customers, associates and management in a clear, concise and professional manner both verbally and in writing.
A strong track record of successful negotiation skills.
Proven ability to build/foster effective relationships with customers, both internal and external.
Proven ability to maintain confidentiality and handle sensitive information with appropriate discretion.
At least 1 year of experience as a credit analyst, underwriter, or similar function OR 1 year experience with SNAAC Now in lieu of experience previously mentioned.
Demonstrated strong skills in Microsoft Office, and ability to learn and master internal programs.
Bachelor's degree from an accredited college or university in related field preferred.
Sub-prime lending experience in automobile industry preferred.
Experience interacting with customers/clients in the automotive dealership industry preferred.
BENEFITS: Medical, dental, vision, life, short-term disability and long term disability insurance coverage available, paid time off (PTO) + 6 holidays, and 401K Investment Plan (50% company match: first 1%-5% individual contribution and 25% company match: second 6%-10% contribution).
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