Credit Analyst Analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with credit information for use in decisionmaking.
Credit Analyst is Also Know as
In different settings, Credit Analyst is titled as
- Credit Administrator
- Credit Analyst
- Credit and Collections Analyst
- Credit Officer
- Credit Representative
- Credit Risk Analyst
- Municipal Fixed Income Analyst
Education and Training of Credit Analyst
Credit Analyst is categorized in Job Zone Four: Considerable Preparation Needed
Experience Required for Credit Analyst
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education Required for Credit Analyst
Most of these occupations require a four-year bachelor's degree, but some do not.
Degrees Related to Credit Analyst
- Bachelor in Accounting
- Associate Degree Courses in Accounting
- Masters Degree Courses in Accounting
- Bachelor in Finance, General
- Associate Degree Courses in Finance, General
- Masters Degree Courses in Finance, General
- Bachelor in Credit Management
- Associate Degree Courses in Credit Management
- Masters Degree Courses in Credit Management
- Bachelor in Financial Risk Management
- Associate Degree Courses in Financial Risk Management
- Masters Degree Courses in Financial Risk Management
Training Required for Credit Analyst
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Related Ocuupations
Some Ocuupations related to Credit Analyst in different industries are
- Credit Authorizers, Checkers, and Clerks
- Loan Officers
- Loan Interviewers and Clerks
- Credit Counselors
- Financial and Investment Analysts
- Financial Examiners
- Personal Financial Advisors
- Financial Managers
- Financial Risk Specialists
- Accountants and Auditors
- Bill and Account Collectors
- Securities, Commodities, and Financial Services Sales Agents
- Bookkeeping, Accounting, and Auditing Clerks
- Tellers
- Billing and Posting Clerks
- Investment Fund Managers
- Tax Examiners and Collectors, and Revenue Agents
- Insurance Underwriters
- Tax Preparers
- Brokerage Clerks
What Do Credit Analyst do?
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- Prepare reports that include the degree of risk involved in extending credit or lending money.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
- Confer with credit association and other business representatives to exchange credit information.
- Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
- Generate financial ratios, using computer programs, to evaluate customers' financial status.
- Review individual or commercial customer files to identify and select delinquent accounts for collection.
- Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
- Consult with customers to resolve complaints and verify financial and credit transactions.
- Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
- Contact customers to collect payments on delinquent accounts.
Qualities of Good Credit Analyst
- Oral Expression: The ability to communicate information and ideas in speaking so others will understand.
- Written Comprehension: The ability to read and understand information and ideas presented in writing.
- Oral Comprehension: The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Inductive Reasoning: The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Problem Sensitivity: The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
- Deductive Reasoning: The ability to apply general rules to specific problems to produce answers that make sense.
- Mathematical Reasoning: The ability to choose the right mathematical methods or formulas to solve a problem.
- Number Facility: The ability to add, subtract, multiply, or divide quickly and correctly.
- Information Ordering: The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Near Vision: The ability to see details at close range (within a few feet of the observer).
- Written Expression: The ability to communicate information and ideas in writing so others will understand.
- Speech Recognition: The ability to identify and understand the speech of another person.
- Speech Clarity: The ability to speak clearly so others can understand you.
- Category Flexibility: The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Flexibility of Closure: The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
- Perceptual Speed: The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object.
- Fluency of Ideas: The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
- Selective Attention: The ability to concentrate on a task over a period of time without being distracted.
- Speed of Closure: The ability to quickly make sense of, combine, and organize information into meaningful patterns.
- Originality: The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
- Memorization: The ability to remember information such as words, numbers, pictures, and procedures.
- Time Sharing: The ability to shift back and forth between two or more activities or sources of information (such as speech, sounds, touch, or other sources).
- Far Vision: The ability to see details at a distance.
- Finger Dexterity: The ability to make precisely coordinated movements of the fingers of one or both hands to grasp, manipulate, or assemble very small objects.
- Visualization: The ability to imagine how something will look after it is moved around or when its parts are moved or rearranged.
- Auditory Attention: The ability to focus on a single source of sound in the presence of other distracting sounds.
- Visual Color Discrimination: The ability to match or detect differences between colors, including shades of color and brightness.
- Arm-Hand Steadiness: The ability to keep your hand and arm steady while moving your arm or while holding your arm and hand in one position.
- Hearing Sensitivity: The ability to detect or tell the differences between sounds that vary in pitch and loudness.
- Manual Dexterity: The ability to quickly move your hand, your hand together with your arm, or your two hands to grasp, manipulate, or assemble objects.
- Trunk Strength: The ability to use your abdominal and lower back muscles to support part of the body repeatedly or continuously over time without "giving out" or fatiguing.
- Control Precision: The ability to quickly and repeatedly adjust the controls of a machine or a vehicle to exact positions.
- Depth Perception: The ability to judge which of several objects is closer or farther away from you, or to judge the distance between you and an object.
- Wrist-Finger Speed: The ability to make fast, simple, repeated movements of the fingers, hands, and wrists.
- Speed of Limb Movement: The ability to quickly move the arms and legs.
- Multilimb Coordination: The ability to coordinate two or more limbs (for example, two arms, two legs, or one leg and one arm) while sitting, standing, or lying down. It does not involve performing the activities while the whole body is in motion.
- Response Orientation: The ability to choose quickly between two or more movements in response to two or more different signals (lights, sounds, pictures). It includes the speed with which the correct response is started with the hand, foot, or other body part.
- Sound Localization: The ability to tell the direction from which a sound originated.
- Rate Control: The ability to time your movements or the movement of a piece of equipment in anticipation of changes in the speed and/or direction of a moving object or scene.
- Reaction Time: The ability to quickly respond (with the hand, finger, or foot) to a signal (sound, light, picture) when it appears.
- Glare Sensitivity: The ability to see objects in the presence of a glare or bright lighting.
- Peripheral Vision: The ability to see objects or movement of objects to one's side when the eyes are looking ahead.
- Night Vision: The ability to see under low-light conditions.
- Dynamic Strength: The ability to exert muscle force repeatedly or continuously over time. This involves muscular endurance and resistance to muscle fatigue.
- Static Strength: The ability to exert maximum muscle force to lift, push, pull, or carry objects.
- Spatial Orientation: The ability to know your location in relation to the environment or to know where other objects are in relation to you.
- Gross Body Equilibrium: The ability to keep or regain your body balance or stay upright when in an unstable position.
- Gross Body Coordination: The ability to coordinate the movement of your arms, legs, and torso together when the whole body is in motion.
- Dynamic Flexibility: The ability to quickly and repeatedly bend, stretch, twist, or reach out with your body, arms, and/or legs.
- Extent Flexibility: The ability to bend, stretch, twist, or reach with your body, arms, and/or legs.
- Stamina: The ability to exert yourself physically over long periods of time without getting winded or out of breath.
- Explosive Strength: The ability to use short bursts of muscle force to propel oneself (as in jumping or sprinting), or to throw an object.
Tools Used by Credit Analyst
- 10-key calculators
- Desktop computers
- Notebook computers
- Personal computers
- Scanners
Technology Skills required for Credit Analyst
- CGI-AMS BureauLink Enterprise
- CGI-AMS CACS Enterprise
- CGI-AMS Strata
- Credit adjudication and lending management system CALMS
- Credit and risk analysis software
- Credit fraud detection software
- Dun and Bradstreet Global DecisionMaker
- eCredit Enterprise
- Equifax Advanced Decisioning
- Equifax Application Engine
- Equifax InterConnect
- Experian Credinomics
- Experian Detect
- Experian FraudShield
- Experian Quest
- Experian Retention Triggers
- Experian Strategy Management
- Experian Transact SM
- Fair Isaac Application Risk Model Software
- Fair Isaac Capstone Decision Manager
- Fair Isaac Falcon ID
- Microsoft Dynamics
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft SQL Server
- Microsoft Visual Basic
- Microsoft Visual Basic for Applications VBA
- Microsoft Word
- Moody's KMV CreditEdge
- Moody's KMV Decisions
- Moody's KMV Financial Analyst
- Moody's KMV Risk Advisor
- Moody's KMV Risk Analyst
- Oracle Business Intelligence Enterprise Edition
- Oracle JD Edwards EnterpriseOne
- Python
- SAP software
- SAS
- Structured query language SQL