National Application Center :: career details :: Credit Analysts
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Career Details :: Credit Analysts
Description
Analyze current 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 this credit information for use in decision-making.
Experience
A minimum of two to four years 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
Most of these occupations require a four-year bachelor's degree, but some do not.
Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Tasks
- Analyzes credit data and financial statements to determine degree of risk involved in extending credit or lending money.
- Reviews individual or commercial customer files to identify and select delinquent accounts for collection.
- Consults with customers to resolve complaints and verify financial and credit transactions and adjust accounts as needed.
- Confers with credit association and other business representatives to exchange credit information.
- Generates financial ratios, using computer program, to evaluate customer's financial status.
- Compares liquidity, profitability, and credit history with similar establishments of same industry and geographic location.
- Completes loan application, including credit analysis and summary of loan request, and submits to loan committee for approval.
- Evaluates customer records and recommends payment plan based on earnings, savings data, payment history, and purchase activity.
- Analyzes financial data, such as income growth, quality of management, and market share, to determine profitability of loan.
Related Careers
- Accountants
- Assessors
- Cost Estimators
- Financial Analysts
- Insurance Underwriters
- Personal Financial Advisors
- Purchasing Agents, Except Wholesale, Retail, and Farm Products
- Tax Preparers
Important Abilities
General Work Activities
- Getting Information Needed to Do the Job
- Analyzing Data or Information
- Processing Information
- Communicating With Persons Outside Organization
- Judging Qualities of Things, Service, People
Important Skills
- Judgment and Decision Making
- Problem Identification
- Active Listening
- Reading Comprehension
- Information Gathering
Frequent Work Context
- Consequence of Error
- Indoors
- Job-Required Social Interaction
- Frustrating Circumstances
- Sitting
