Job Profile and Description
Rating the credit worthiness of a said person or an organization is the primary job of a credit analyst. When any bank, financial institute or a company hands over a service or contract or even some kind of loan, credit or a loan to a person, the credit analyst does the job of determining the credit worthiness of that entity.
Key Duties and Responsibilities
- Consult with customers to resolve complaints and verify financial and credit transactions.
- Participate in process improvement projects, and support other management directives as prescribed.
- Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- It will be the duty of analyst is to help the staff to ensure that policies and procedures comply with the departmental standards and also provide the support to them in the work.
Most organizations require a bachelor’s degree or equivalent experience working in credit or collections, financial credit systems and reporting.
Knowledge and Skills Requirements
- Effective writing and communication skills.
- Extensive knowledge in financial procedures, bank policies and local laws.
- He or she will have to work in a team and it may be possible to supervise the team so should have the ability to work as a part of a team and under minimal supervision.
- He or she should have the excellence in analyzing things so should have strong analytical skills.
Salary and Range
BLS records show that the median annual wage for credit analysts was $57, 470 as of May 2009. The middle 50% of analysts earned between $42,950 and $80,790 a year, while the lowest 10% had an annual salary of about $34,420. Those in the highest 10% bracket enjoyed an income of approximately $112,710 per year.