About MassDevelopment

MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth.

MassDevelopment is committed to achieving three goals: stimulating business, driving economic growth, and helping communities across Massachusetts, all seen through the lens of access, diversity, equity, and inclusion. We strive to provide a work environment that celebrates difference and is free of implicit and explicit bias; an environment that recognizes the thoughts and contributions of every colleague as crucial to our collective success.

Job Location

Boston

Hybrid Schedule

Minimum of two days in the office/on-site; option to work remotely up to three days per week

Reports To

Vice President and Senior Credit Manager

Hours

Exempt Full Time Salaried Position

Job Overview

Under the general direction of the Vice President/Senior Credit Manager, the Senior Credit Analyst provides due diligence, analytical, operational and credit expertise to the lending and portfolio groups in conformance with established lending department and agency policies. This position will provide full underwriting services and be able to independently complete loan approval memorandums of the caliber expected from loan officers, and should have similar credit credentials.

Responsibilities

• Underwrite and analyze the creditworthiness of new and existing commercial and not for profit loan/guarantee applicants for approval and risk rating assessment
• Independently draft loan approval requests and make recommendations for the extension of credit, based on an analysis of the borrower’s financial condition, cash flow, capacity, collateral and its ability to repay financial obligations; the borrower's industry and market conditions and an assessment of ownership and management
• Conduct annual credit reviews and identify issues that would impair the integrity of a loan
• R equest loan downgrades or upgrades as identified
• As requested by the Senior Credit Manager and or Loan Officer, interview loan applicants as needed to develop and obtain information concerning their business needs, abilities and earnings
• Able to take over for the loan officer on loan underwriting once an application is received.
• This position will require extensive discussions with borrowers that may sometimes be difficult as they seek credit concessions.
• Analyze and comment on the operating performance and financial condition of existing customers/guarantors to assess credit quality, compliance and risk rating profile
• Monitor Loan Portfolio for compliance with financial reporting requirements.
• Order and analyzes Hoovers, D&B, and Personal credit reports on new and existing borrowers
• Proficient with and maintains the Baker Hill spreadsheet system database
• Assist with department budget preparation
  

Competencies

• Understanding of workplace concepts and issues related to diversity, equity, inclusion, and anti-oppressio
• Minimum of a Bachelor's Degree in business, accounting, finance or economics
• 5+ years of experience as a credit analyst or loan officer at a lending institution including three years of loan underwriting
• Strong analytical and problem solving abilities
• Motivated self-starter, must be able to work independently and manage multiple priorities within deadlines
• Superior verbal and written communication skills
• Ability to underwrite and analyze C & I, not for profit and commercial real estate loans
• Bilingual a plus though not required for the job
• Formal credit training is helpful
  

Salary

$94,000-$97,500

Benefits

MassDevelopment offers a robust and generous benefits package. In addition to standard benefits, highlights include:

• Student Loan Reimbursement
• Tuition reimbursement
• Premium Medical and Dental Coverage
• Employer Contributions to Retirement Savings Plans
  • 7.5% employer contribution into a 401(a) Defined Contribution Plan
  • 457(b) with employer match of up to 5%
• Fitness/Wellness Reimbursement
• Transportation Reimbursement