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Lending Analyst

Cox Automotive


Location:
Mississauga, ON
Date:
12/11/2017
2017-12-112018-01-09
Job Code:
1718413
Cox Automotive
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Job Details

Company Cox Automotive
Title: Lending Analyst
JobID: 1718413
Category: Accounting and Finance
Industry: Cox Automotive
Job Type: Full-time

Description

NextGear Capital is a subsidiary of Cox Automotive and a leading provider of inventory financing solutions across the Globe.  Cox Automotive is transforming the way the world buys, sells and owns cars and is part of Cox Enterprise, a leading communications, media and automotive services company with revenues exceeding $20 billion.  As one of Canada’s largest and leading providers of inventory finance solutions you can expect to join a talented team of industry experts where you won’t just have a job, but a career chock-full of opportunity to grow and advance. A position within our company offers benefits that can only come from working for an industry leader. We offer a diverse, energetic workplace and a commitment to your success and advancement. The freedom to move across many dynamic industries and work alongside talented, motivated team members awaits 
Summary:
Attention to detail helps in ensuring accuracy in the procedure of assessing all critical facets of an accounts credit application. In particular, the individual must have finance, analytical, problem solving and decision-making skills to weigh the risks and costs of providing credit in a high volume environment. Additionally, the individual will have the competence to use computer programs to assess the eligibility of an applicant based on risk factors and applicant information. As well, the individual must demonstrate both oral and written communication skills and ability to work cross functionally. Individual required to sift through complex information and focus on critical priorities. Proactive communication and ability to execute independently while maintaining the team work environment in a positive, proactive fashion. Proficiency in Microsoft programs is also a skill this individual must possess. The individual should possess excellent work ethic with a high energy level, motivation, enthusiasm and ambition. This individual must show an interest in Lending with career aspirations of becoming an Underwriter.

Responsibilities:

This division of Lending handles complex accounts administering credit underwriting and adjudication. Individual is a member of the divisional organization that coordinates daily with the underwriter team, commercial account executives, senior corporate executives and internal operations teams to provide seamless service to existing customers and prospects. Reporting directly to the Commercial Lending Underwriter, responsibilities include management of incoming requests for up to loans $20,000,000, ensuring requests are in the system accurately and complete, providing authoritative decisions on term changes and reserve requests for approval. This individual balances the communication with both internal teams and the consumer on a daily basis. Responsibilities also include assimilating closing contracts that require legal compliance in order for the business contracts to ensure first time quality, which includes the legal name and signers on the account that will ascertain correct and consummate contracts.


Position Duties:
  • Coordinator by communicating directly with Underwriter team (UW), Account Executives, Regional Directors, and senior level executives to resolve credit processes, questions or concerns.
  • Serve as the initial deflection in order to deliver a complete and accurate package to the UW team for the decision making process.
  • Understand and review the financial summary and determinations of the Financial Analysis Form for any given account and input information into Excel sheets.
  • Analyze and administer line mod packages/ new application packages for UW Review in accordance to Company’s Lending Policy.
  • Review and decide on packages as they are received and ensure proper follow up to ensure efficient work flow both internally and externally to complete the file.
  • Responsible for managing the tracking of all credit application files and folders through lending intranet to ensure all accounts remain current and not past due through the lending process.
  • Decision making through analytical and business principles on daily basis to filter work.
  • Assess account package for quality assurance eliminating re-work in completeness with communication to the field.
  • Take actions necessary to collect and verify information on credit bureaus, provincial regulators, business filings, KO Book, lien filing information, etc. that are required to process secure credit or process contracts.
  • Ensure compliance in the completion of all assigned transactions, accurately and in a timely fashion in all areas where Company conducts business.
  • Review legal documentation to ensure transactions are properly secured.
  • Determine documentation requirements based on transaction structure and prepare and obtain such documentation.
  • Confirm all required supporting documentation per account to secure corporate interest.
  • Review and recommend term plan requests by preparing an updated financial summary with new ROI and submit to Commercial Lending Underwriter for consideration.
  • Review and decide on reserve release requests which includes verifying dealer is in good standing and has met minimum reserves requirements and send disbursement request to Application Support.
  • Review all executed documentation provided by the dealer to ensure all stipulations have been met and submit to lending services to activate.
  • Cross collaborate with Finance Manager and Credit Manager in making inquiries regarding financial packages.
  • Assist in closing loans documents and facilitating new business take outs.
  • Review Experian / Equifax Alerts and assist field with collecting proper documentation to clear alert.
  • Balance workload assigned to UW’s to guarantee each UW has equal amounts of loans in pipeline to ensure efficient workflow.
  • Communicate to the field and internal departments on approvals/stipulations for LOC/ New Applications given by the UW and update in house systems accordingly with accurate comments.
  • Compile both manual and system generated contracts for execution to the field ensuring accuracy and completeness. 
  • Develop training that include formal written policy as well as daily coaching
  • Communicates with field regarding turn time, explanation of documentation requested, and NextGear Capital Lending Guidelines.
  • Assist with US Lending Manager and liaison with special projects to support Lending Department.
  • Responsible for managing external reports that meet with company policies and procedures. 
  • Responsible for tracking all new requests;
  • Communicate with UW team concerning issues that may arise during the review of the LOC request.
  • Create term plans for new term requests submitted by the field by working with our Application Support team.
  • Manage multiple priorities within tight timeframes while maintaining ongoing attention to detail to ensure turn times are met.
  • Thorough understanding of NextGear Capital Lending policies, processes and procedures related to processing and maintaining applications and contracts.

Qualifications

Knowledge, Skills and Abilities:
  • Utilize working knowledge of Business Accounting/Financial Statement concepts, procedures and processes typically used in automotive and financial services industries.
  • Ability of self-reliance and prioritize work flow in heavy volume environment.
  • Knowledge of business documentation including but not limited to sole proprietorships, corporations, partnerships and limited liability corporations.
  • Ability to research and analyze PPSA/RDPRM filings in all Canadian provinces including Quebec, where applicable and Hypothec filings in Quebec to determine collateral positioning of all filers and its effect on account risk.
  • Developing and promoting programs and practices to support internal efficiency.
  • Ability to analyze variances and trends to determine changes in key business metrics vs. expectations and review with leadership team.
  • Proficiency with Microsoft Office Suite including: Word, Excel, PowerPoint and Outlook or comparable software application.
  • Excellent communication skills in both oral and written across for multi-functional groups
  • Bilingual in French and English considered an asset and preferred.

Education and Experience:
  • Bachelor’s degree in Business with Concentration in Finance, Economics or Accounting preferred but not required.
  • Working knowledge in various inventory finance software programs.
  • Prior work experience in Auto and/or Financial services industry is required.
  • 3+ years of experience as a Lending Analyst and/or similar type role assisting the Underwriting department.
Physical Demands:
  • Sitting, standing for extended periods of time
  • Computer work
  • Occasional bending, lifting
  • Driving – must have a valid driver’s license
  • Travel- must be willing to travel occasionally if needed
 
 
Work Environment
Normal office environment, with ability to visit and interact with all outside departments and prospective clients.
 
Disclaimer
The posting is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities or requirements.


About Cox Automotive

 

Cox Automotive is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, retail, financial and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. The Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, VinSolutions®, Xtime®, incadea® and a host of other brands. With a complete and connected view of the automotive ecosystem, Cox Automotive is a global company connecting people, cars and capabilities with services that link the automotive value chain. Cox Automotive is a subsidiary of Cox Enterprises. For more information about Cox Automotive, visit www.coxautoinc.com.



Organization: Cox Automotive

Primary Location: CA-ON-MISSISSAUGA-2233 Argentia Road

Employee Status: Regular

Job Level: Individual Contributor

Shift: Day Job

Travel: Yes, 5 % of the Time

Schedule: Full-time

Unposting Date: Ongoing
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