Credit Officer

Summary

Join Formic as a Credit Officer and contribute to the company's mission to revolutionize American manufacturing by evaluating credit applications, developing new credit underwriting strategies, and supporting debt capital markets efforts.

Requirements

• A 4-year degree in any discipline, with preference for a Business Administration, Finance, Accounting, or Economics preferred, or equivalent experience/on the job training
• 7+ years of commercial credit underwriting experience in a commercial bank, investment bank, credit fund, or fintech company
• Knowledge and experience in credit underwriting of equipment transactions is highly desirable experience
• Strong technical skills including financial statement analysis and credit risk management
• Excellent communication, presentation, and project management skills
• Experience developing new credit underwriting policies and processes to address evolving business needs, with a focus on data and process automation

Responsibilities

• Evaluate credit applications from small- to medium-sized businesses to assess creditworthiness, completeness, and compliance
• Contribute to evolving Formic’s credit risk management processes and support both process improvement and capital markets initiatives
• Work closely with various functions across the company to support the sales process while addressing risk and ensuring compliance with established policies
• Facilitate an ease of doing business and have strong connectivity to executive leadership and sales
• Support the sales and customer success teams internally and externally as the subject matter expert on the credit policy and credit underwriting processes
• Conduct underwriting calls with customers, as necessary
• Foster a sense of urgency to get things done
• Strive for quality as well as timeliness, maintaining perspective as to the outcome of the decisions
• Prepare credit memoranda that include financial analysis, repayment ability calculation, management structure, and guarantor reviews
• Develop new credit underwriting strategies by evaluating underwriting performance, incorporating new data sources, and employing emerging technology
• Identify technology and process improvements for streamlining and automating credit application/review process, leading to an enhanced customer experience
• Support debt capital markets efforts by providing support for due diligence, structuring, and lender/investor communication

Benefits

• Equity in Formic: your slice of ownership in a fast-growing Series A startup, backed by some of the best investors in the world
• 99% coverage on our base Medical, Dental, and Vision insurance plans (75% coverage for dependents) via Blue Cross Blue Shield and Guardian, with buy-up options, as well
• FSA & DCFSA
• Life insurance, Short-Term Disability, and Long-term Disability plans (covered at 100%) via Guardian
• Employee Assistance Program
• Paid parental leave
• Company-sponsored 401k
• Home Office Stipend for remote and hybrid roles
• Monthly Phone/Internet Reimbursement
• Flexible time off policy and 10+ company holidays