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Credit Analysts Occupation Detailed Description

Credit Analysts career

General Job Description and Education/Training Levels for Credit Analysts

The main tasks and work activities of Credit Analysts are to analyze business or financial data, assess risks to business operations, prepare financial documents, reports, or budgets, advise others on financial matters. In general, for the Credit Analysts, critical Thinking, reading Comprehension, active Learning, speaking and other 10 skills are required.
Credit Analysts Job Description
EducationMost of these occupations require a four-year bachelor's degree, but some do not.
Related ExperienceA 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.
Job TrainingEmployees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
ExampleMany of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
The following chart shows the education/training levels for Credit Analysts jobs.
Less than a High School Diploma
0.00%
High School Diploma (or the equivalent)
0.00%
Post-Secondary Certificate
0.00%
Some College Courses
0.00%
Associate's Degree (or other 2-year degree)
0.00%
Bachelor's Degree and Above
100.00%

Tasks and Work Activities of Credit Analysts

  • 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.
  • Analyzing Data or InformationIdentifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Getting InformationObserving, receiving, and otherwise obtaining information from all relevant sources.
  • Interacting With ComputersUsing computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Processing InformationCompiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Communicating with Supervisors, Peers, or SubordinatesProviding information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Making Decisions and Solving ProblemsAnalyzing information and evaluating results to choose the best solution and solve problems.
  • Updating and Using Relevant KnowledgeKeeping up-to-date technically and applying new knowledge to your job.
  • Interpreting the Meaning of Information for OthersTranslating or explaining what information means and how it can be used.
  • Evaluating Information to Determine Compliance with StandardsUsing relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Establishing and Maintaining Interpersonal RelationshipsDeveloping constructive and cooperative working relationships with others, and maintaining them over time.
  • Analyze business or financial data.
  • Assess risks to business operations.
  • Prepare financial documents, reports, or budgets.
  • Advise others on financial matters.
  • Assess financial status of clients.
  • Confer with others about financial matters.
  • Prepare contracts or other transaction documents.
  • Calculate data to inform organizational operations.
  • Examine financial records.
  • Analyze market conditions or trends.
  • Correspond with customers to answer questions or resolve complaints.
  • Collect payments for goods or services.

Skills and Abilities for Credit Analysts

  • Critical ThinkingUsing logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Reading ComprehensionUnderstanding written sentences and paragraphs in work related documents.
  • Active LearningUnderstanding the implications of new information for both current and future problem-solving and decision-making.
  • SpeakingTalking to others to convey information effectively.
  • Active ListeningGiving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • MathematicsUsing mathematics to solve problems.
  • WritingCommunicating effectively in writing as appropriate for the needs of the audience.
  • Judgment and Decision MakingConsidering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Time ManagementManaging one's own time and the time of others.
  • Complex Problem SolvingIdentifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Service OrientationActively looking for ways to help people.
  • Social PerceptivenessBeing aware of others' reactions and understanding why they react as they do.
  • MonitoringMonitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Oral ExpressionThe ability to communicate information and ideas in speaking so others will understand.
  • Written ComprehensionThe ability to read and understand information and ideas presented in writing.
  • Oral ComprehensionThe ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Inductive ReasoningThe ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Number FacilityThe ability to add, subtract, multiply, or divide quickly and correctly.
  • Mathematical ReasoningThe ability to choose the right mathematical methods or formulas to solve a problem.
  • Deductive ReasoningThe ability to apply general rules to specific problems to produce answers that make sense.
  • Problem SensitivityThe ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Near VisionThe ability to see details at close range (within a few feet of the observer).
  • Information OrderingThe 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).
  • Written ExpressionThe ability to communicate information and ideas in writing so others will understand.
  • Speech RecognitionThe ability to identify and understand the speech of another person.
  • Category FlexibilityThe ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Speech ClarityThe ability to speak clearly so others can understand you.
  • Perceptual SpeedThe 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.
  • Flexibility of ClosureThe ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
  • Desktop calculatore.g. 10-key calculators
  • Desktop computerse.g. Desktop computers
  • Notebook computerse.g. Notebook computers
  • Personal computerse.g. Personal computers
  • Scannerse.g. Scanners
  • Economics and AccountingKnowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • MathematicsKnowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English LanguageKnowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Law and GovernmentKnowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • ClericalKnowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.