Financial Analyst-Commercial Credit New Jersey

Company: Way Forward Consulting
Location: Ridgefield Park
Posted on: September 17, 2023

Job Description:

W2 job to a staffing company

Top 3 Skill Sets - Commercial Credit Analysis
Oral & Written Communication
Organizational Skills

Bachelors preferred in finance/accounting or related
Years of experience - 1-3
Hybrid: 4-1 M-TH with F remote

Additional Skills needed:
1. Approximately 1-3 years commercial credit or related experience with the ability to read, interpret and analyze commercial financial statements
2. Solid communication skills both verbal and written
3. Proficient in Windows, Excel, Word, PowerPoint.

PURPOSE OF POSITION:

To protect the assets of the Company while also supporting the sales needs of the organization. The position's primary functions include but are not limited to performing detailed reviews and risk analysis on an ascribed portion of company's portfolio of accounts in order to assess commercial credit risk as well as assign, maintain, or adjust credit limits. For accounts that do not qualify for an open line of credit, the role will require collaboration with team leads to discuss the possibility of alternative hedging (Letter of Credit, Flooring, Cash Collateral, etc.). The position holder will be responsible for continuous monitoring of their account portfolio insuring that credit limits are sufficient and alerting team leads as to financial downturns and, with guidance, potentially suggesting credit actions or other risk mitigating solutions. The position will also be responsible for the initial risk analysis and set up of new accounts working with various external teams to ensure appropriate documents are collected and accurate. Additionally, the position will require reporting both assigned and ad-hoc that will be distributed within the group as well as to a broader audience. The position holder may also be asked to provide logistical support on the implementation and risk mitigation options/program(s) relating to all Accounts Receivables of the Company. Required business travel is not anticipated but would be minimal


ESSENTIAL DUTIES & RESPONSIBILITIES: Please note that initial responsibilities will most likely include assignment of department related tasks/projects from team leads and senior analysts. As time in role progresses and skill-set is fully vetted, duties and responsibilities may expand to include any/all of the duties and responsibilities listed below.

--- Manage the commercial credit risk for an assigned portfolio of accounts applying Samsung's credit practices and procedures (portfolio will typically contain lower risk accounts with modest credit limits)
--- Perform detailed reviews and risk analysis on an ascribed portion of Samsung's portfolio of accounts in order to assess commercial credit risk as well as assign, maintain, or adjust credit limits.
--- Plans and schedules credit review and risk analysis for assigned portfolio of accounts
--- Uses credit risk analysis skills and business acumen along with available risk assessment tools and third party data to analyze new account requests for open lines of credit as assigned; interfaces with team leads for guidance when encountering unique credit situations during this process
--- Obtain all necessary information to properly risk assess including assigning a risk category from our Financial Health Indicator, perform robust financial review and submission through appropriate channels for activation of credit line and assignment of account number in Samsung's systems
--- Reviews and analyzes assembled reports, scorecard data, financial statements and supplementary information such as bank and trade references as well as payment history data to arrive at sound financial decisions intended to support sales while protecting Samsung's assets
--- Recommends individual credit lines or, for unqualified accounts, works with team leads to assess the viability of other hedging options, or courses of action and again with guidance from team leads facilitates the implementation of credit line or other approved solution for challenging risks
--- Personally handles non routine credit inquires and correspondence as it relates to their portfolio involving team leads for guidance to potential challenges based on those inquiries
--- Defers team leads for advice on particularly complex problems and cases requiring interpretation of policy decision
--- Monitors monthly lines of credit for customers in assigned portfolio of accounts to ensure that balances are within approved limits
--- Assist team leads or Sr. Analysts in support when requested, for Parts and Service as well as any other secondary businesses, in all aspects of risk assessment of Accounts Receivable and also provide assistance with regard to credit processes and risk mitigation tools and services as well as hedging options. This could include reports from third party services or just general procedure and practices along with requests for standard templates or forms and overall credit opinions.
--- In the Company of team leads may be asked to represent the Company at creditors' meetings trade shows bankruptcy proceedings or other related events
--- Prepare and submit departmental reports from simple inter-department reports, to more complex companywide reports that will be defined once position has been filled. Additionally, candidate will need to provide ad-hoc reports as needed.
--- May be required to be part of customer visits as needed to obtain financials or assess overall business operations and status of assigned accounts (team leads will accompany as necessary)

Keywords: Way Forward Consulting, Hackensack , Financial Analyst-Commercial Credit New Jersey, Accounting, Auditing , Ridgefield Park, New Jersey