Credit Associate Job Description
Credit associate
provides guidelines and establish corporate credit control policies, help the business controller to enforce internal control to protect corporate investment in accounts receivable;.
Credit Associate Duties & Responsibilities
To write an effective credit associate job description, begin by listing detailed duties, responsibilities and expectations. We have included credit associate job description templates that you can modify and use.
Sample responsibilities for this position include:
Providing ongoing thought leadership to ensure the ACL team’s analytical and data management approach and tools are appropriate given the Bank’s ACL philosophy / strategy, regulatory guidance, and industry standards and best practices
Daily reconciliation of positions and cash to trustee records
Monthly reconciliation of data and compliance test results for preparation and release of monthly Collateralized Loan Obligation (CLO) reporting requirements
CLO distribution reconciliation and projection using deal specific waterfall models for Quarterly Distribution Reports
Hypothetical trade review for potential CLO investment transactions
Ad hoc reporting and inquiries from Trading Desk, Deal Analysts and Investor Relations Team
Perform detailed financial, credit and industry analyses to establish credit-specific ratings and attributes
Assist in portfolio management duties which include but are not limited to quarterly reviews of leveraged loans, responding to regulator inquiries and adhoc analyses
Assistance with the credit- and due diligence work undertaken for a range of lending and trading relationships
Responsibilities mainly involve the participation in due diligence on fund managers and the risk analysis of fund counterparties, together with the establishment of counterparty ratings and the processing of new transactions, annual reviews of existing relationships
Credit Associate Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Credit Associate
List any licenses or certifications required by the position: CFA, CCE, CBF, CBA, CCB, TDS, FRM, NACM, W-9
Education for Credit Associate
Typically a job would require a certain level of education.
Employers hiring for the credit associate job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Finance, Business, Accounting, Economics, Education, Financial Services, Associates, Business/Administration, Graduate, Management
Skills for Credit Associate
Desired skills for credit associate include:
Procedures
Commercial credit policies
Loan systems
Microsoft Office programs
Commonly used concepts
Excel
Practices
Procedures within accounts receivable field
MS Word
Customary products
Desired experience for credit associate includes:
Unstructured work flow where priorities change frequently in order to meet clients needs emanating from various global trading units
Requirement to be highly organized to balance tasks and work closely with team members to meet time sensitive objectives and requirements
The successful candidate will have experience in the financial services or investment banking industry
Strong accounting/finance education and skills basic knowledge of loan and capital markets products
Solid analytical skills and proficiency with financial modeling
Experience in healthcare (corporates) is highly preferred
Credit Associate Examples
1
Credit Associate Job Description
Job Description Example
Our growing company is hiring for a credit associate. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for credit associate
- Credit and risk analysis of the current European loan portfolio
- At an early stage, you will work closely with the business on the risk aspects of any new transaction under consideration and provide direction and guidance as required to ensure the eventual deal structure adequately mitigates key risk concerns
- You will review Single Name Strategies and Transaction Requests within agreed timelines and/or turn around benchmarks, highlight exceptions to applicable policies and guidelines, and suggest enhancements
- You will assist Associate Director’s and Director’s with the writing of RAFs and review and approval of Transaction Requests within delegated authorities
- You will be responsible for preparing RAF's in a timely and consistent manner to identify and evaluate the major risks and recommend the appropriate Borrower Risk rating (BRR) to meet business needs and CDIC/OSFI/OCC requirements
- You will prepare financial ratio analysis (including income and balance sheet statement analysis and multivariable sensitivity testing)
- You will actively monitor and evaluate the industry portfolio, developing the necessary analytical tools (such as benchmarking and portfolio stress testing) to facilitate early identification of emerging risks and recommend a course of action to ensure portfolio quality is maintained
- Usually works independently with limited direct supervision
- Coordinate the preparation and execution of new accounts documents, including KYC client profile, as required
- New account mailing – includes preparing/sending DDA and credit documents
Qualifications for credit associate
- Databases and programming experience – SQL, Access, VBA required
- Understanding of credit risk/market risk preferred
- Knowledge on Basel credit capital rule preferred
- Exceptional leadership skills with a desire to assist in the development of lower-level analysts on the team
- Some experience of corporate financial analysis
- Bachelor’s degree from a top-tier university with a coursework emphasis on accounting, finance, and / or economics
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Credit Associate Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of credit associate. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for credit associate
- Comply with Risk Management and Compliance Guidelines and all corporate compliance policies and keeping current on all issues
- Liaising with external stakeholders Mortgage Insurers, Valuers, Solicitors and settlement agents
- Provides clerical and investigative support to the Periodic Review Analysts and Managers
- Providing full administrative/general support and validation of risk exposure parameters provided by merchants
- Perform financial and credit analysis of names within coverage sectors, spanning both investment grade and high yield credits
- Assist in gathering and analyzing industry and macro data to identify trends and help develop broad views of corporate
- Ensure appropriate documentation of compliance and credit risks per guidelines and approvals, coordinate the preparation and execution of new accounts documents, including KYC client profile, as required
- Opening Credit Facility cancellations when documents are returned – includes preparing client profile, obtaining ID verification from FA/CA, addressing signature discrepancies, compliance update requests
- Administer the account opening documentation process, workflow approvals, monitoring and curing overdrafts, dacility cancellations, update Ribs systems for address changes
- Managing rollover spreadsheet, entering future requests and ensures appropriate approval is obtained for long term maturities
Qualifications for credit associate
- Management and all colleagues
- Ensure effective oversight, challenge and support from a credit and concentration risk management perspective is provided to all change initiatives
- Lead effort to liaise with market risk, financial surveillance, and other departments to familiarize others with counterparty credit risk profiles and build knowledge of credit risk ratings
- Deliver high quality results for high priority and time sensitive regulatory driven projects
- MBA graduate preferred
- 4 to 5+ years of managerial experience with a track record of increasing responsibilities
3
Credit Associate Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of credit associate. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for credit associate
- Open credit notes and apply to open items as appropriate, request other credits to be reimbursed
- Request and process credit notes as appropriate
- Manage Disputes related to Collections
- Execute dunning strategies
- Escalate collection issues to in-market BFS team as needed
- Propose write-offs of incorrigible debt / accounts for approval by the Local Team and Business Units
- Support regular customer account reviews with the business
- Prepare reporting and documentation for consumption by other departments
- Support of and participation with senior leadership team and matrix partners in revenue generation and process improvement opportunities
- Assist senior analyst(s) in fundamental research and analysis of corporate bond issuers across multiple industry sectors
Qualifications for credit associate
- A resilient and enthusiastic personality
- CBA, CBF, or CCE from National Association of Credit (NACM) or equivalent is a plus
- Minimum Associates degree in Business Administration, Accounting, or other related discipline or equivalent experience is required
- 1-3 years of related commercial credit experience required
- Experience in construction industry and a working knowledge of liens and construction bonds preferred
- Able to prioritize multiple tasks and work in a fast-paced environment
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Credit Associate Job Description
Job Description Example
Our company is looking for a credit associate. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for credit associate
- Determine customer credit limits based on available information and internal procedures
- Participates in credit training classes with proficiency evaluated through graded case work and testing
- Prepares basic credit packages including credit analysis for extensions, modifications and renewals of existing loan facilities and new loan requests
- Spreads business financial statements using Baker Hill/One Point system
- Conducts cash flow analysis to evaluate loan repayment ability
- Assesses collateral coverage
- Identifies and reports credit policy and underwriting exceptions
- Completes credit underwriting requests within expected timeframes to meet assignment deadlines
- Evaluating credit status and determining best path to take in resolving issues
- Nurturing and monitoring professional relationships with customers
Qualifications for credit associate
- JDE experience a significant plus
- Able to work individually and in a team environment to meet monthly deadlines and goals
- Provides clerical and investigative support to Credit/Periodic Review/Risk Analysts and Managers
- Strong math/quantitative, communication, interpersonal and organizational skills
- Experience with structured credit products including CLOs, synthetic tranches, total return swaps, or warehouse financing
- 2+ years’ experience on a sell side trading floor in a structuring role
5
Credit Associate Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of credit associate. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for credit associate
- Review orders held in Kount (fraud management software) and approve/reject as appropriate
- Contact new and established accounts to notify when an order is on credit stop
- Ensure that customers are notified of any problems with their order
- Assess customers suitability for credit by reviewing on-line credit information reports obtained by the outsourcing partner from external credit reference agency, liaising daily with other relevant parties as applicable by phone and email
- Maintain appropriate comments in the system of all customer requirements, collection action taken, payments received, promises made
- Answer incoming calls and return customer’s calls promptly and professionally
- Maintain open communication with sales and customer care to fully answer all customer queries
- Provision of copies of invoices/statements following customer requests
- The Credit Associate role is to provide clerical and investigative support to the global Credit Risk Management functions
- Process new customer credit applications including but not limited to accessing credit agency data, collecting trade references, bank trades, to open new accounts
Qualifications for credit associate
- A bachelor’s degree is required, preferably with a focus on accounting or finance
- Working knowledge of the Bloomberg terminal and Bloomberg API is a plus
- Ability to multi-task in order to meet multiple deadlines
- Bachelor’s Degree in Finance, Economics, Accounting or other similar
- Minimum of 2-3 years prior experience in a corporate banking environment (or equivalent)
- Past experience working on deal teams preferred