Credit Analyst Role - Small Commercial Bank
Got an offer from a small commercial bank (AUM 1B) for a credit analyst role. Just wanted some advice on if you guys think it's worth leaving my currently role as I am a fund accountant at another bank making around 70k a year. This offer is around 55k (pretty low I know). I have been looking to get into CRE for about 7 months now and I feel like this is a good way to get my foot in the door. The role consists of this:
- Reviews Commercial Real Estate Loan documentation at inception and annual review
- Prepares and makes ongoing assessment relative to credit risk ratings for all commercial real estate loans.
- Prepares Credit Analysis Packages
- Enter loans in department application systems and prepare recommendation for term sheet.
- Responsible for interviewing prospective borrower and loan officer for proper fact finding and preparation of loan offering.
- Responsible for analyzing all credit reports, property search, appraisal, judgment search, environmental report, leases and other investigative reports as per department procedures and loan policy.
- Responsible for daily tracking and following up for the timely receipt of reports, appraisals and applicant documentation to ensure the expedient processing of all loans.
- Prepare any necessary correspondence to customers regarding needed financial information for new loan requests and annual review of each file.
- Prepares annual reviews on commercial real estate lending relationships
- Handle internal and external customer inquiries (phone and written correspondence).
- Must be knowledgeable of the Bank’s computer system and departmental software applications.
- Must have familiarity with all policies, products, documentation requirements and procedures relating to commercial real estate lending.
- Must be familiar with and adhere to all lending compliance regulations. Must also know the Bank’s policy on Bank Secrecy Act and CIP Procedures.
- Perform other duties as required for the efficient functioning of the department.
Being that the bank is really small, I am just wondering if the role is worth it. According to the VP and the senior analyst, they do seem underwrite a heavy amount of CRE loans, however I've taken a look at some annual reports and it seems commercial loans are very minimal. Can someone provide me some insight to some exit opportunities within a year.
Thanks!
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I probably wouldn’t advise taking it, but it’s dependent on a couple other factors. Accounting is very relevant in commercial banking underwriting where I’d think you could get another credit analyst/underwriting role at a bigger bank or CRE firm fairly easily if you show interest.
I think the only reasons I’d take the offer you have on the table are: 1) You currently dislike your job you work now and need a change ASAP and 2) You live in a smaller city and their are few other options and you are tied to the city you live in.
Best of luck!
If you don’t mind me asking, why would you not recommend taking it? Do you think it’s because the bank is small or is it more like you don’t think the role will translate to much. Appreciate u commenting. Thanks
With some of these smaller banks (specifically ~$1B AUM) it may be harder to move up the food chain, and I don't think it would be too much harder (depending on location) to find a similar position at a larger bank that would pay you similar to what you make now if not more.That being said, if you’re very excited about CRE and want to start learning now, I don’t think it’d be the worst decision to take it as well.
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