Credit Analyst Career

Job Description: 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.


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Credit Analyst Career

What Credit Analysts do:

  • Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
  • Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
  • 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.
  • Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
  • Consult with customers to resolve complaints and verify financial and credit transactions.
  • 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.
  • Contact customers to collect payments on delinquent accounts.

What work activities are most important?

Importance 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.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.

Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Holland Code Chart for a Credit Analyst