Job Summary:
We are seeking a meticulous and analytical Credit Officer to join our auto finance startup. As a Credit Officer, you will play a vital role in assessing the creditworthiness of loan applicants, conducting thorough credit analyses, and ensuring the overall quality of our loan portfolio. Your role will involve evaluating credit risks, making informed lending decisions, and maintaining compliance with internal policies and regulatory requirements.
Responsibilities:
- Assess the creditworthiness of loan applicants by analyzing their financial statements, credit history, and collateral value.
- Conduct detailed credit analyses to evaluate borrowers' ability to repay loans and determine appropriate loan terms and conditions.
- Review loan applications and supporting documentation to ensure accuracy, completeness, and compliance with established lending guidelines.
- Analyze financial data, including income statements, balance sheets, cash flow statements, and tax returns, to assess applicants' financial stability.
- Verify applicant information and perform credit checks using internal and external sources.
- Collaborate with loan officers and underwriters to gather additional information and clarify any credit-related issues.
- Prepare comprehensive credit reports and present findings to management for loan approval or rejection decisions.
- Evaluate collateral valuation reports and assess the adequacy of collateral coverage.
- Monitor loan portfolios to identify early signs of credit deterioration, assess risk ratings, and recommend appropriate remedial actions.
- Stay updated on industry trends, market conditions, and regulatory changes affecting the auto finance industry.
- Ensure compliance with internal credit policies, procedures, and regulatory requirements.
- Collaborate with other departments, such as sales and collections, to address credit-related concerns and provide guidance.
- Maintain accurate and up-to-date credit files and documentation.
- Provide support during loan audits, examinations, and regulatory reviews.
- Assist in the development and enhancement of credit risk assessment models and tools.
- Participate in credit committee meetings and provide insights on credit-related matters.
- Continuously improve credit analysis processes and procedures to enhance efficiency and effectiveness.
Requirements:
- Bachelor's degree in Finance, Accounting, Business Administration, or a related field (or equivalent work experience).
- Proven experience as a Credit Officer or in a similar credit analysis role, preferably in the auto finance industry or financial services sector.
- Strong understanding of credit risk assessment, financial statement analysis, and lending principles.
- Familiarity with credit analysis tools, techniques, and credit scoring models.
- Excellent analytical and problem-solving skills.
- Ability to make sound credit decisions and recommendations.
- Ability to manage multiple tasks and meet deadlines in a fast-paced environment.
- Strong ethics and integrity.
- Proficiency in using financial analysis software and MS Office Suite.
