Credit analysts 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 decision-making.

  • Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
  • 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.
  • Prepare reports that include the degree of risk involved in extending credit or lending money.
  • Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
  • 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.
  • Contact customers to collect payments on delinquent accounts.
  • Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
  • Review individual or commercial customer files to identify and select delinquent accounts for collection.
  • Confer with credit association and other business representatives to exchange credit information.
Work Context
  • Electronic Mail — 100% responded "Every day".
  • Indoors, Environmentally Controlled — 100% responded "Every day".
  • Spend Time Sitting — 85% responded "Continually or almost continually".
  • Telephone — 69% responded "Every day".
  • Face-to-Face Discussions — 79% responded "Every day".
  • Importance of Being Exact or Accurate — 60% responded "Extremely important".
  • Time Pressure — 70% responded "Once a week or more but not every day".
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Work Activities
  • Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  • Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
  • Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
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Detailed Work Activities
  • Assess risks to business operations.
  • Analyze business or financial data.
  • Prepare financial documents, reports, or budgets.
  • Assess financial status of clients.
  • Advise others on financial matters.
  • Confer with others about financial matters.
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Knowledge

Economics and Accounting
  • Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Mathematics
  • Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
English Language
  • Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
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Skills

Critical Thinking
  • Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension
  • Understanding written sentences and paragraphs in work related documents.
Speaking
  • Talking to others to convey information effectively.
Active Learning
  • Understanding the implications of new information for both current and future problem-solving and decision-making.
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Abilities

Oral Expression
  • The ability to communicate information and ideas in speaking so others will understand.
Oral Expression
  • The ability to communicate information and ideas in speaking so others will understand.
Inductive Reasoning
  • The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Written Comprehension
  • The ability to read and understand information and ideas presented in writing.
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Personality

People interested in this work like activities that include ideas, thinking, and figuring things out.
They do well at jobs that need:
  • Achievement/Effort
  • Persistence
  • Initiative
  • Leadership
  • Cooperation
  • Concern for Others
  • Social Orientation
  • Self Control
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Technology

You might use software like this on the job:

Data base user interface and query software
  • Structured query language SQL Hot Technology
  • Microsoft SQL Server Hot Technology
Analytical or scientific software
  • SAS Hot Technology
Enterprise resource planning ERP software
  • SAP Hot Technology
  • Oracle JD Edwards EnterpriseOne Hot Technology
  • Microsoft Dynamics Hot Technology
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Education

Bachelor's Degree or
Master's Degree
usually needed

Get started on your career:

Job Outlook

New job opportunities are less likely in the future.
Salary
$74,970
$44,250
$146,690