Established in 2018, FC Global Services India LLP(First Citizens India) erstwhile SVB Global Services India LLP, is a leading destination for financial services, technology and innovative solutions. Based in Bengaluru, First Citizens India is an integral part of the enterprise Global Services’ division, responsible for delivering business value to its customers and clients in the United States. We have matured significantly over the years, developing deeper domain expertise amongst our highly skilled and developed talent pool. As part of First Citizens BancShares, our India-based teams benefit from the company's over 125-year legacy and strength. We are particularly proud of our strong, relationship-driven culture, which is deeply ingrained in our talented workforce. This is evident across all the key areas of our operations including Technology, Global Operations, Finance, Cybersecurity, Risk & Compliance, and Credit Administration. We have embraced innovation and change, positioning ourselves as a leader in the global banking technology and business services industry. We are seeking talented individuals to join us in our mission of providing well-developed and tailored business solutions.
Job Description:
Credit Analyst - Roles and Responsibilities
Summary
The Credit Analyst, who will be part of the Credit Analysis team at First Citizens India Credit Administration, will be responsible for performing a broad set of credit functions such as financial statement spreading, covenant monitoring, borrowing base calculations, preparing detailed portfolio reviews, and compliance monitoring, and updating and maintaining internal reporting and workflow tools of SVB’s different line of businesses.
The role requires excellent knowledge/experience in Moody’s CreditLens (earlier known as MCL), an understanding of financial statements and associated ratios, covenant calculations, borrowing base calculations, etc. The candidate would also be required to have a good working knowledge of/experience with commercial lending reporting tools and applications.
He/she would also be required to have an excellent/good understanding of financial accounts/statements and commercial lending products.
Essential Functions
Perform assigned activities required to support the manager. Work under limited supervision and have an expanded skill set applied to the essential functions. Utilize knowledge/resources to resolve moderate to complex issues, and escalate complex non-routine problems. General operations functions may include, but are not limited to:
Reporting:
- Monitor and track monthly/quarterly reporting packages (arriving from US counterparts) to check for completeness of client information on the portal
- Monitor and track borrowing base information (e.g. ineligible calculations, gross accounts receivables) provided by clients with inputs from the other team members
- Regularly monitor and track the financial spreading and covenant compliance status of the clients with inputs from the other team members
- Set up/upload new client information in the portal; monitor tasks to be completed by other team members as part of the day-to-day workflow
Financial Spreading:
- Upload client information (income statements, balance sheets, and cash flow statements) using Moody’s tool
- Spread debt amount (short-term and long-term) as per guidelines to identify outstanding SVB loan amount
- Highlight SVB-related debt amortization/payment schedules and payment amounts
- Perform monthly reconciliations and undertake ad-hoc reporting of potential risk elements
Covenant Calculations & Monitoring:
- Perform covenant compliance checks for the borrowers on a monthly/quarterly basis by calculating the financial covenant(s) as defined in the borrower’s loan and security agreement (LSA); perform modifications, as applicable, to the covenant calculations based on updates to the LSA
Portfolio Review:
- Prepare and maintain the portfolio review dashboard on a day-to-day basis
- Update relevant sections of the dashboard by updating information in the corresponding systems; Compliance Portal, CreditLens, etc. (compliance status, exposures & outstanding, client financials, client liquidity, covenant information, ABL availability, etc.)
- Maintain and track the latest financial and reporting provisions, as applicable, for the SVB borrowers and correctly report in ePRS; run daily/monthly reconciliations of borrower information
- Perform covenant compliance checks for the borrowers on a monthly/quarterly basis by calculating the financial covenant ratios such as consolidated fixed charge coverage ratio, etc; perform modifications, as applicable, to the covenant calculations based on the borrower’s LSA
Borrowing Base:
- Perform the Borrowing Base calculations as per SVB established procedures on a day-to-day basis (based on accounts receivable, inventory, cash, and marketable securities of borrowers) and determine the current level of collateral available for certain borrowers
- Perform Accounts Receivable ineligible calculations and aging calculations based on; reconcile calculations with BB certificates given by clients
- Monitor potential risk elements as per the lines of credit monthly; upload the BB information in SVB’s workflow tool, Compliance portal
Non-Core Activities:
- Monitor tasks to be completed by other team members and support the manager in mentoring and training new hire analysts
- Execute initiatives related to operational excellence and provide ideas for process improvements; review work produced by analysts and provide guidance
- Participate in meetings, ad-hoc projects, and other duties as assigned by management
Quality Assurance:
- Ensure a high level of accuracy in financial spreading
- Add to the knowledge management databases, particularly regarding the resolution of issues
- Adhere to financial spreading and covenant calculation KPIs/metrics, completing work within agreed to turnaround times
- Report incidents of non-compliance items (e.g., differences in financial statements provided by client) to lead analyst/manager on a timely basis
Core skills
- Excellent written and spoken communication skills
- Strong financial skills
- Strong understanding of various classes of debt (secured/unsecured/subordinated)
- Comfortable with spreading and analyzing detailed financial statements in Moody’s CreditLens
- Ability to deliver 100% quality work
- Efficient and well-organized, able to work under tight deadlines
- Outstanding attention to detail, accuracy, and ability to multitask
- Ability to work in a team environment and coordinate with various stakeholders
- Proven capability to work independently without hand-holding and exercising sound judgment & initiative
- Ability to be flexible with shift timings (2 pm – 11 pm)
Additional skills (good to have)
- Comfortable with commercial lending portfolio reporting and workflow tools
- Broad understanding of the commercial loan/lending lifecycle
- Coverage of innovation economy industries (like technology, healthcare, life sciences, etc.)
Competencies
- Accountability
- Self-motivated
- Attention to detail
- Fostering Teamwork
- Organization Skills
- Problem-Solving
- Time management
Education and certifications
- Bachelor’s degree in Commerce / MBA(Finance)
- CA (CPA equivalent) / CFA will be an added advantage
- Proficient in Moody’s CreditLens, nCino
Experience
- 3-5 years of experience in credit services functions (spreading, covenants, reviews, etc.)
- Exposure to US accounting, GAAP, and IFRS
- Experience in the banking/lending industry
Travel
- No travel is expected for this position
Physical Demands
- The employee must have the ability to use a computer keyboard, mouse, calculator, copier/fax machine, scanner, and telephone. While performing the duties of this job, the employee is regularly required to talk and hear. Employees must have close visual acuity to perform an activity such as: reviewing and analyzing information; transcribing; and/or viewing a computer screen. Employees may be required to make quick decisions as to when to escalate or directly
Equal Employment Opportunity
FC Global Services India LLP hereinafter referred to as First Citizens India is an Equal Employment Opportunity Employer. We are committed to fostering an inclusive, equitable and accessible environment and prohibit all forms of discrimination on the basis of gender, religion, caste, disability, sexual orientation, economic status or any other characteristics protected by the law. We strive to foster a safe and respectful environment in which all individuals are treated with respect and dignity. Our EEO policy covers all employment processes such as recruitment, hiring, compensation, benefits, promotions, learning opportunities, and other applicable employment terms for all qualified applicants and employees.
