Small Business Credit Analyst

Background

The Washington Area Community Investment Fund (Wacif) advances equity and opportunity in the Washington, D.C. area’s underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $100 million in capital, served more than 4,500 entrepreneurs with business advisory services, and helped create or retain more than 44,000 local jobs. To learn more about Wacif’s work, visit www.wacif.org.

Summary

The Washington Area Community Investment Fund (Wacif) seeks a full-time Small Business Credit Analyst to support Wacif’s lending activities. The Small Business Credit Analyst will play a crucial role in underwriting loans, assessing credit risk, and working closely with small business owners to support their growth and success. This role requires a strong background in financial analysis, underwriting, and risk management. The ideal candidate is passionate about community development and committed to empowering small businesses through effective lending and credit practices.

Responsibilities

DUTIES & RESPONSIBILITIES:

1. Loan Underwriting:
   • Evaluate and underwrite new loan applications for small businesses, ensuring compliance with underwriting guidelines and risk policies.
   • Perform in-depth financial statement analysis, including assessing balance sheets, income statements, cash flow, and tax returns.
   • Identify key financial trends and assess the viability of potential borrowers’ ability to repay loans.
   • Utilize accounting and financial analysis skills to assess risk, profitability, and long-term business sustainability.

2. Risk Management & Assessment:
   • Conduct thorough risk assessments by identifying potential risks associated with new and existing borrowers and propose appropriate mitigating factors.
   • Maintain a solid understanding of market and industry risks, particularly those affecting small businesses in under-resourced communities.
   • Collaborate with senior management to develop and implement effective risk management strategies to protect the loan portfolio.

3. Client Engagement & Technical Assistance:
   • Communicate directly with small business clients, guiding them through the underwriting process and ensuring all necessary documentation is provided.
   • Collaborate with clients to understand their business models, financial challenges, and growth opportunities, offering insights and support as needed.

4. Credit & Loan Documentation:
   • Prepare comprehensive credit memos that clearly outline underwriting decisions, financial analysis, and recommendations to management or the credit committee.
   • Ensure all documentation and financial data are accurate, complete, and in compliance with internal policies and program requirements.

5. Industry & Market Knowledge:
   • Maintain up-to-date knowledge of industry trends, economic conditions, and regulatory changes affecting the small business sector.
   • Understand and analyze market conditions that may affect a borrower’s business, including industry sector performance and geographic location.

6. Collaboration & Reporting:
   • Work closely with the Program and Small Business Advisory teams, and external partners to ensure a collaborative approach and continuity for borrowers in alignment with Wacif’s mission.
   • Provide regular updates to management on loan performance, market conditions, and portfolio risk metrics.
   • Collaborate with the MIS team to provide data and insights related to portfolio performance, regulatory reporting, and impact analysis.

Requirements

• Bachelor’s degree in finance, accounting, business, economics, or a related field (or equivalent experience).
• Minimum of 2-3 years of experience in credit analysis, financial statement analysis, or underwriting, preferably in small business lending or Community Development Financial Institutions (CDFIs).
• Strong understanding of accounting principles, financial statement analysis, and cash flow analysis.
• Excellent risk assessment skills, with the ability to identify and mitigate risks in lending decisions.
• Superior written and verbal communication skills with the ability to explain complex financial concepts clearly and concisely.
• Strong interpersonal skills with the ability to build relationships and provide excellent customer service to diverse small business clients.
• Knowledge of the small business landscape, including challenges and opportunities faced by entrepreneurs in underserved communities.
• Proficiency in Microsoft Excel and financial analysis tools/software.
• Analytical thinker with strong problem-solving skills.

Preferred Qualifications:

• Experience working in a CDFI or traditional financial institution
• Familiarity with government programs and resources available to small businesses.
• Bilingual skills are a plus.

Compensation and Benefits

Competitive salary commensurate with experience.  Medical, Dental, Vision, HSA, FSA, DCA, Life & Disability insurance coverages available. 401(k) retirement plan (employer matching contribution eligible); paid time off (increased with tenure), paid holidays and sick leave days, transportation benefits, and education assistance benefits (professional development, tuition reimbursement, and student loan repayment).

How to Apply

Interested candidates should email a resume, a thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and salary requirements to [email protected] with “Small Business Credit Analyst” in the subject line.

Wacif is an equal opportunity employer and welcomes candidates from diverse backgrounds.

Wacif provides a flexible and hybrid working environment with the opportunity to work remotely.