Sr Analyst, Floorplan Credit

Buffalo, NY, USA Req #3349
November 20, 2024
If you are looking for a career at a dynamic company with a people-first mindset and a deep culture of growth and autonomy, ACV is the right place for you! Competitive compensation packages and learning and development opportunities, ACV has what you need to advance to the next level in your career. We will continue to raise the bar every day by investing in our people and technology to help our customers succeed. We hire people who share our passion, bring innovative ideas to the table, and enjoy a collaborative atmosphere. 
 
Who we are: 

ACV is a technology company that has revolutionized how dealers buy and sell cars online. We are transforming the automotive industry. ACV Auctions Inc. (ACV), has applied innovation and user-designed, data driven applications and solutions. We are building the most trusted and efficient digital marketplace with datasolutions for sourcing, selling and managing used vehicles with transparency and comprehensive insights that were once unimaginable. We are disruptors of the industry and we want you to join us on our journey. ACV’s network of brands includes ACV Auctions, ACV Transportation, ClearCar, MAX Digital and ACV Capital within its Marketplace Products, as well as, True360 and Data Services.

 At ACV we focus on the Health, Physical, Financial, Social and Emotional Wellness of our Teammates and to support this we offer: 
  • Multiple medical plans including a high deductible, low cost health plan 
  • Company-sponsored (paid) Short-Term Disability, Long-Term Disability, and Life Insurance 
  • Comprehensive optional benefits such as Dental, Vision, Supplemental Life/AD&D, Legal/ID Protection, and Accident and Critical Illness Insurance 
  • Generous paid time off options, including vacation time, sick days, Company holidays, floating holidays, parental leave, bereavement leave, jury duty leave, voting leave, and other forms of paid leave as required by applicable law or regulation 
  • Employee Stock Purchase Program with additional opportunities to earn stock in the Company 
  • Retirement planning through the Company’s 401(k)

Who we are looking for:

The Sr. Floorplan Credit Analyst is a highly skilled professional responsible for overseeing the credit analysis and underwriting functions related to floorplan financing. This role involves evaluating and managing high-stakes loan applications, making complex underwriting decisions and mentoring junior underwriters. The Sr. Floorplan Credit Analyst uses their expertise to assess various risks, handle high-value and high-complexity cases and ensure that the underwriting process aligns with company policies and industry regulations. The position requires extensive experience in credit analysis, strong leadership abilities, and a deep understanding of floorplan financing.

 

What you will do:

  • Actively and consistently support all efforts to simplify and enhance the customer experience.
  • Evaluate complex applications, analyzing financial documents, credit histories, and other data to assess risk levels and determine appropriate terms.
  • Make informed decisions regarding credit limits, terms, and conditions for floorplan financing, ensuring alignment with the company's risk appetite.
  • Set policy terms, premiums, or loan conditions for high value or high-risk applications ensuring they align with company risk standards and profit objectives.
  • Guide and mentor junior underwriters offering technical assistance, training and best practices to support their development.
  • Foster strong relationships with external clients, including dealers and other financial institutions, to support business growth and maintain portfolio quality.
  • Work closely with internal departments to facilitate underwriting processes and communicate decisions effectively.
  • Ensure that all credit decisions and underwriting practices are compliant with industry regulations and company policies, staying updated on regulatory changes.
  • Identify opportunities to improve underwriting practices, procedures and risk assessment models, often working on special projects or system upgrades.
  • Develop and deliver training programs for underwriters and junior credit analysts to enhance their skills and knowledge.
  • Prepare reports and analysis on underwriting activities, portfolio performance, and risk tends to ensure that all credit analysis documentation is accurate, complete, and up to date.
  • Stay updated on industry trends, regulatory changes, and new credit evaluation techniques, sharing this knowledge with the team.
  • Perform additional duties as assigned.

 

 

What you will need:

  • Ability to read, write, speak and understand English.
  • Bachelor’s degree in Accounting, Economics, or Business
  • 5+ years of experience credit analysis, underwriting, or risk management, with a focus on floorplan financing.
  • Exceptional ability to interpret complex data and make accurate risk assessments.
  • In-depth understanding of underwriting software, industry-specific regulations, and advanced risk management practices.
  • High level of accuracy and thoroughness when reviewing documentation
  • Strong ability to communicate technical information effectively and to collaborate with internal and external stakeholders
  • Experience in various inventory finance software programs.
  • Working knowledge of Auto Dealer prepared statements and auto auctions preferred.
  • Demonstrated experience in business accounting/financial statement concepts, procedures and process typically used in automotive and financial service industries.
  • Ability to analyze tax returns, CPA audited, reviewed and dealer-prepared business financial statements for accounts that require a credit facility.
  • Ability to perform cash flow analysis to determine accounts liquidity.
  • Ability of self-reliance and prioritize workflow in heavy volume environment.
  • Ability to analyze financial statements to determine profitability and financial ratios.
  • Skill to review customer bank statements and identify credit related issues.
  • Ability to assess and analyze personal financial statements.
  • Analyze credit worthiness of principals including asset search examination.
  • Knowledge of business documentation including Sole Proprietorships, S-Corps, C-Corps, Partnerships and Limited Liability Corporations. Holding Companies, etc.
  • Knowledge of legal document preparation, including lease and loan documentation, security perfection, researching and documenting corporate information and statutes, corporate by-laws, signature authority protocol, etc.
  • Ability to research and analyze UCC filings to determine collateral positioning of all filers and its effect on account risk.
  • Proficiency with Microsoft Office Suite including Word, Excel, PowerPoint and Outlook, Google, Salesforce, etc. or comparable software application.
  • Ability to mentor and guide junior team members fostering a collaborative and knowledgeable team environment

 

Compensation: $72,000 - $84,000 annually. Please note that final compensation will be determined based upon the applicant's relevant experience, skillset, location, business needs, market demands, and other factors as permitted by law.

 

No immigration or work visa sponsorship will be provided for this position.

 

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Our Values 

Trust & Transparency | People First | Positive Experiences | Calm Persistence | Never Settling
   


At ACV, we are committed to an inclusive culture in which every individual is welcomed and empowered to celebrate their true selves. We achieve this by fostering a work environment of acceptance and understanding that is free from discrimination. ACV is committed to being an equal opportunity employer regardless of sex, race, creed, color, religion, marital status, national origin, age, pregnancy, sexual orientation, gender, gender identity, gender expression, genetic information, disability, military status, status as a veteran, or any other protected characteristic. We also consider qualified applicants regardless of criminal histories, consistent with legal requirements. If you have a disability or special need that requires reasonable accommodation, please let us know.

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Other details

  • Job Family Finance & Accounting
  • Job Function Floorplan Ops
  • Pay Type Salary
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Location on Google Maps
  • Buffalo, NY, USA