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Senior Credit Analyst in Orange, CA at Volt

Date Posted: 12/16/2018

Job Snapshot

  • Employee Type:
    Direct Hire
  • Location:
    Orange, CA
  • Job Type:
  • Duration:
    N/A
  • Date Posted:
    12/16/2018
  • Job ID:
    149415
  • Pay Rate
    $50000.0 - $70000.0/Year
  • Contact Name
    Volt Branch
  • Phone
    714-921-5702

Job Description

Senior Credit Analyst

Job Summary: A financial professional who has expertise in evaluating the creditworthiness of individuals and businesses. Credit Analysts determine the likelihood of a borrower being able to meet financial obligations and

pay back trade credit, often by reviewing the borrower's financial history and determining whether market conditions will be conducive to repayment.

Credit Analysts, besides being skilled at financial statement analysis, use a number of, ratios when reviewing the financial history of a potential borrower. They focus on determining whether the borrower will have sufficient cash flows by comparing ratios to industry standards, other borrowers and historical trends. Prepare reports with this credit information for use in decision-making.

Responsible for preparing incoming credit applications, customer service, creating and updating customer records, notes, and daily administrative functions within the Credit Department. Process all system maintenance changes and any special projects.

Duties and Responsibilities

  • Analyze credit data and financial statements trend to determine the degree of risk involved in extending credit limit.
  • The Credit Analyst will use the following resources to gather additional information and to make a credit recommendation:
    • Edgar Online (financial information),
    • Wall Street Journal Online (for newsworthy information)
    • Yahoo! Finance (company profile, stock information, etc.)
    • Fortune 500
    • D&B
    • Credit Risk Monitor
  • Complete basic or comprehensive credit review template, including credit analysis and summary of recommendation, and submit to Credit Manager or designate for approval.
  • Generate financial ratios and scorecard to evaluate customer's financial status.
  • Confer with credit association and other business representatives to exchange credit information.
  • The Credit Analysts primarily monitor the status of customer accounts and follow-up on accounts over their credit limit.
  • Prepares comments in credit utilization report to include the degree of risk involved in extending credit limit.
  • Process D&B and Credit Risk Monitor alert notifications to the Collection Department collectors.
  • Credit Authorization up to 25K
  • Gathers credit information and obtains financial reference information for potential new customers (e.g. D&B reports, trade references, bank references) for incoming credit applications.
  • Maintains communications with appropriate departments and/or facilities to avoid delays in processing credit applications.
  • Contacts the branches to clearly understand credit needs and acquire further documentation to make credit decisions.
  • Performs coding and data entry of all new customer applications, including entering notes into enterprise system to document the actions and results of the credit evaluation process.
  • Notifies the branches of the credit decision (i.e. Credit Approved, Credit Declined, Pre-Payment Request, and Order Cancellation) on customer applications.
  • Reviews and takes appropriate action for alias mailboxes (ie. Creditapplications, Customersetup, and ContractstoCredit)
  • Requests and submits ticket for customer with special coding (i.e. No pay provisions, customer groups, volume discounts, etc.)
  • Performs customer system maintenance such as name, address, credit limit, and collector and inactivating accounts once approved.
  • Process Credit Holds, Final Demands, and Placed for Collection accounts once approved.
  • Creates, files, and uploads electronic credit files.
  • Orders office supplies for credit department as needed.
  • Prepares and distributes reports as requested by management.
  • Adhere to SOX compliance as defined by the company and assists with audit paperwork assembly.

PROCEDURE MANUAL

Senior Credit Analyst prepares there are several key figures and points of information that are reviewed. Some of these key points are as follows: D&B rating and payment history, pay history with Volt (new or existing account), current newsworthy information on the company, and acquired financial information (consisting of key information such as Net Profit/Loss, Cash on balance sheet, working capital etc.). This information should already be included on trend review submitted by Credit Analyst.

The Credit Analyst will then receive a reply regarding the request to review the account. It will either be approved for a higher line of credit or no change to the credit line will occur, but escalation of Credit, Collections, and Branch involvement will happen.

Credit Approvals:

If approved the Credit Analyst or Credit Supervisor will update the system with the new credit line, update the Peoplesoft notes and customer file to reflect management approval, and send out an email to the Branch to advise of the new limit.

Escalation:

If the account is not approved for a higher credit line escalation occurs. This is where the Credit Analyst and or Credit Supervisor, Credit Manager, Collector, Collections Management, and Branches are all involved to get the account resolved. The different forms of escalation techniques used would be: email, phone calls, and conference calls to all involved parties. The accounts are recommended to stay on the Credit Analysts or Credit Supervisors desks for continual follow-up until resolution.

Accounts with large credit line requests (in excess of $100,000}:

Accounts with credit limits of more than $100,000 are also reviewed in the same manner. The difference is, if the credit is reviewed and determined to be acceptable a review is submitted to VP of Accounting if private without financials or considered high risk. If the review is determined not to be acceptable; escalation will occur as noted above with the inclusion of upper management (VP of Accounting as needed)