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credit analyst

Credit Analyst Job Description

Review this Credit Analyst job description for a reference when building your resume. Review the qualifications and requirements listed to get an understanding of what you need to include on your resume for what employers would look for in this field.

SUMMARY:

A Credit Analyst is a key professional in the financial industry responsible for assessing the creditworthiness of individuals, businesses, or organizations applying for credit or loans. They analyze financial data, review credit histories, and evaluate risk factors to make informed decisions regarding lending or extending credit.

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FUNCTIONAL DUTIES:

  1. Credit Assessment:
    • Evaluate credit applications and assess the creditworthiness of borrowers.
    • Analyze financial statements, credit reports, and other relevant financial data to make informed decisions.
  2. Risk Analysis:
    • Identify and assess credit risks associated with loan applicants, including repayment capability and potential default factors.
    • Evaluate collateral and security options, if applicable, to mitigate risk.
  3. Credit Scoring:
    • Use credit scoring models and algorithms to quantify credit risk.
    • Determine credit scores and recommend credit limits based on the assessment.
  4. Financial Statement Analysis:
    • Review and interpret financial statements, income statements, balance sheets, and cash flow statements to evaluate an applicant’s financial health.
    • Analyze financial ratios and performance metrics to assess stability.
  5. Market Research:
    • Monitor market conditions, economic trends, and industry-specific factors to assess the overall risk environment.
    • Incorporate market research findings into credit risk assessment.
  6. Credit Policy Adherence:
    • Ensure adherence to the institution’s credit policies and procedures.
    • Make credit recommendations and decisions in line with established guidelines.
  7. Documentation:
    • Prepare and maintain accurate and comprehensive credit files and documentation.
    • Record decisions, analysis, and reasons for granting or denying credit.
  8. Client Interaction:
    • Communicate with applicants, borrowers, and internal teams to gather additional information, discuss credit decisions, and address credit-related concerns.
  9. Credit Approval:
    • Recommend credit approvals or denials based on the analysis and present these recommendations to senior management or credit committees.
  10. Regulatory Compliance:
    • Ensure compliance with all relevant lending regulations and laws.
    • Stay updated on changes in credit and lending regulations.
  11. Portfolio Management:
    • Monitor the credit quality of existing loan portfolios.
    • Identify and address deteriorating credit risk and recommend strategies for portfolio improvement.

REQUIREMENTS:

  • Bachelor’s degree in finance, economics, accounting, or a related field. A master’s degree or relevant certifications (e.g., Chartered Financial Analyst – CFA) may be advantageous.
  • Proven experience as a Credit Analyst or in a related role within the financial industry.
  • Strong analytical and quantitative skills to assess financial data and credit risk.
  • Proficiency in financial analysis, including interpreting financial statements and financial ratios.
  • Knowledge of credit scoring models and credit risk assessment techniques.
  • Familiarity with credit reporting agencies, credit reports, and credit analysis tools.
  • Strong attention to detail and accuracy in credit assessments.
  • Excellent communication skills to interact with applicants, borrowers, and colleagues.
  • Ability to work independently, make sound decisions, and manage multiple credit assessments simultaneously.
  • Knowledge of relevant lending regulations and compliance requirements.

Note: The specific duties and requirements of a Credit Analyst may vary depending on the financial institution, the types of credit, and the local regulations. This job description provides a general overview of the responsibilities and qualifications typically associated with the role of a Credit Analyst.

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