Credit Analyst Job Description
The job of a Credit Analyst involves analyzing financial information and assessing risk when an individual or business us asking for a loan, credit cards or other financial assistance. The analyst is responsible for organizing all documents submitted by a borrower, evaluating the capacity of a borrower to pay obligations when borrowing money or applying for loans and deciding if the individual or business
Education/Experience Requirements for the job of a Credit Analyst: A successful candidate must possess a bachelor’s degree or equivalent experience in credit collections and financial credit reporting. Those with a master’s degree in business administration or a similar field have better opportunities.
Skills of a Credit Analyst include but are not limited to: Effective writing and communication skills, excellent managerial and organizational skills, extensive knowledge in financial procedures, bank policies and local laws, and knowledge in accounting programs.
Specific work elements of the job as a Credit Analyst include but are not limited to: Analyzing credit information and financial statements to determine risks involved in lending money or extending credit; preparing financial reports; evaluating customer records based on earnings, payment history, savings and purchase activities; communicating with credit association to update customer credit information; completing loan applications; generating financial ratios; comparing profitability, liquidity and credit histories of establishments; and resolving customer complaints, among others.
