Remote Senior Credit Officer

Summary

Join Formic as a Senior Credit Officer and contribute to the company's mission to revolutionize American manufacturing by evaluating credit applications, contributing to credit risk management processes, and supporting sales and customer success teams.

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
• Provide leadership for all facets of the credit and portfolio management team, being both very hands-on and advising based on deep professional credit expertise
• Develop a strong group of cross-functional collaborators by providing training on credit underwriting and the credit process as a whole to both the current sales team as well as future hires
• Manage third-party vendors, including PayNet, Dun & Bradstreet, and Equifax
• Develop and analyze credit opportunities with an emphasis placed on complex transactions, making decisions and taking measured risk using all available data and insights
• Prepare and oversee comprehensive credit write-ups, approving and/or rejecting deals within approved credit authority, then providing recommendations beyond credit authority
• Monitor our portfolio for past due accounts, and assist as needed to rectify delinquent ones
• Ensure continuous improvement, including providing enhancements to all processes, including credit approval write-ups, initial credit reviews, credit application, and more
• Participate in the identification of problem areas and the development of resolutions to address them
• Continue to develop, maintain and adhere to credit and collection policies and procedures
• Liaise with third party resources, including Formic’s funding partners