What Do Credit Analysts Do: Job Description, Responsibilities and Duties

Stanley TanLeave a Comment



daily life of a Credit Analyst
are Credit Analysts happy with their job

Credit Analysts

Other names for this job might include Analyst, Credit Administrator, Credit Analyst, Credit and Collections Analyst, Credit Assessment Analyst, Credit Manager, Credit Negotiator, Credit Representative, Credit Risk Analyst, Credit Specialist


  • $79720
    Salary
  • 70%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Medium
    Job growth
OwlGuru Rank

B+



Being A Credit Analyst: What You Really Do


In this job description guide, you will find out what do Credit Analysts do and what is their typical work day like.

After reading this, you will have a much better idea on whether you will like working as a Credit Analyst or not.



Job summary

Credit Analysts 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 decision making.

We asked Credit Analysts how satisfied they are with their job. Here is what they said.

Job satisfaction

70%

How meaningful is this job

37%


70% of them said they were satisfied with their job and 37% said they find that their job makes the world a better place or helps to make someone else’s life better.



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Typical day

On a daily basis, Credit Analysts Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval. They Consult with customers to resolve complaints and verify financial and credit transactions.

1 of the main responsibilities as A Credit Analyst is to Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.

A typical day for A Credit Analyst look like this:

Prepare contracts or other transaction documents.
Correspond with customers to answer questions or resolve complaints.
Analyze business or financial data.

We asked some Credit Analysts a few questions to find out what else does their work day look like. Here is what we found.

Do you have telephone conversations everyday in this job?90% said yes
Do you have to use email everyday in this job?90% said yes
How important is it to work in a team in this job?27% said very important
Do you have group discussions everyday in this job?60% said yes
Do you have to meet strict deadlines everyday in this job?23% said yes
Do you talk or work with customers everyday in this job?27% said yes
Do you have to deal with angry customers everyday in this job?7% said yes
Do you have to make decisions everyday in this job?53% said yes



Other responsibilities

Besides the “typical day” things that Credit Analysts do, they Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money. They might also Generate financial ratios, using computer programs, to evaluate customers’ financial status.

On a weekly to monthly basis, Credit Analysts Review individual or commercial customer files to identify and select delinquent accounts for collection.

A typical week or month for them might include:

Assess risks to business operations.
Analyze business or financial data.
Calculate data to inform organizational operations.
Examine financial records.



Working life

Working hours

40 hours per week

Working schedule

Regular (Set schedule and routine)


In a typical work week as A Credit Analyst, you can expect to work 40 hours per week.

Do Credit Analysts work in an office-style work environment?

Everyday
86.67%

Once a week
0%

Once a month
0%

Once a year
0%

Never
13.33%

Do Credit Analysts work in a warehouse-style work environment?

Everyday
0%

Once a week
0%

Once a month
3.33%

Once a year
0%

Never
96.67%

Do Credit Analysts work outdoors?

Everyday
0%

Once a week
0%

Once a month
0%

Once a year
6.67%

Never
93.33%



Is this right for me

Best personality for this career

The Organizers and The Persuaders


You can read more about these career personality types here.

You will like this career if you are someone who likes following set procedures and routines. They like working with data and details more than with ideas.

You also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.



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Career type

Business and Finance
Business Financial Management and Accounting
Banking and Related Services, Financial and Investment Planning

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Related to Credit Analysts Job Description

Credit Analysts job description, what do Credit Analysts do, typical day for Credit Analysts, what is it like to work as a Credit Analyst, how many hours do Credit Analysts work, day to day work of a Credit Analyst

Additional resources

http://www.bls.gov/oes/current/oes132041.htm

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Credit Analysts
Written by: Stanley Tan
Credit Analysts 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 decision making.
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