Review overdraft reports and if any in my market appear, question relevant officer's on what issue caused overdraft and how it will be repaid. Review Deal in House memos describing basic information on new opportunities to be considered, have conference calls to discuss same and give guidance as to whether to proceed or not and if so, outline due diligence steps to be taken. Have ongoing dialogue with underwriters about issues that arise in their underwriting transactions and policy implicatio
CAREER
Credit Analysts
Overview
Salary Median (2020)
$77,440
Projected Job Growth (2019-2029)
-2.5% (decline)
Career
Roadtrip Nation Leaders in This Career
What Credit Analysts Do
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.
Other Job Titles Credit Analysts May Have
Credit Administrator, Credit Analyst, Credit Officer, Credit Representative
How Leaders Describe a Typical Day at Work
On daily basis, I can receive up to 400+ calls. All in which customers or merchants are calling in looking to process applications, credit limit increases, updating accounts, etc. I do not work face to face with my customers, but I do provide an experience for them. I also speak to representatives from small and large businesses. With them I assist with locating payments, making payments, balancing check books, etc. I can speak to the owner of the company all the way down to the janitor.
Tasks & Responsibilities May Include
- 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.
Education
Level of Education Attained by Credit Analysts
Most common level of education among people in
this career: Bachelor's degree (95%)
Bachelor's degree
Master's degree
Majors Related to Career
Educational Paths Suggested by Leaders
Suggested Path
High School
Bachelor
BS
Graduate
Taxation
Suggested Path
High School
Bachelor
Social Psychology
Additional Skills & Experiences That Can Help You Excel
Seeing from experience the signals that a company is struggling and will have problems repaying debt. Understanding a business' operation to see how cash is generated in it and what financing is needed. Assessing management's ability to develop a business plan and execute against it.
PLENTY! We look at regulations provided by our federal and state government. My initial training for my position was an 8 week training, and we covered every topic you can think of when it comes to banking and financing.
Getting Started
Recommended First Step for:
High School Students
The first most important step is to surround yourself with like minded people. People that are in the business that you want to go into. Also just networking. Being able to take that step outside of your comfort of learning something new.
Everyone
This page includes information from theO*NET 26.1 Databaseby the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under theCC BY 4.0license. O*NET® is a trademark of USDOL/ETA.
