Credit Analyst Job Description Sample
Sometimes all that’s standing between your lending institution’s bottom line and your next bad loan or investment is a good credit analyst. Your company’s success—and its money—is literally riding on having professionals with the right quantitative and analytical skills in these key roles.
But it isn’t all about the numbers. The best credit analysts are also excellent communicators, good at reading people and noting discrepancies, and pivotal team players who can be counted on to be discrete and protect their employer’s interests.
An effective strategy for hiring these crucial professionals begins with a credit analyst job description designed to attract top candidates.
You might use the alure of working for a large corporation with many avenues for growth as way to attract top talent eager to prove themselves, or you might mention tuition reimbursement for those interested in working toward their MBA. For more ideas, browse Monster’s credit analyst job listings.
[Intro Paragraph] Begin your credit analyst job description with a concise paragraph or list of bulleted items designed to sell your company, agency, or institution to applicants. You might mention how crucial credit analysis is to your company’s success and how this role is viewed as a steppingstone toward more prominent finance positions within your workplace. If your company values work-life balance, promoting from within, incentive-based compensation, or diversity, equity, and inclusion, be sure to mention this in your post.
Credit Analyst Job Responsibilities:
- Gathers and analyzes loan applicants’ financial data to evaluate risk.
- Assesses creditworthiness of individuals, companies, and institutions.
- Collaborates with other financial experts to approve or deny loans.
- Makes recommendations about whether to increase, adjust, extend, or close lines of credit.
- Undertakes risk analysis using regional, sector-specific, environmental, and other financial data.
- Prepares and presents credit reports.
- Completes quality assurance reviews.
- Gauges market trends.
- Monitors and adheres to collateral compliance covenants.
- Ensures that all loans are made in adherence with federal, state, and local financial regulations.
- Analyzes data to verify information and uncover fraud.
- Helps to update and improve credit rating criteria.
- Authors documents on credit risk and related financial matters.
- Communicates credit decisions and policies to fellow employees and credit applicants.
- Oversees or undertakes document preparation.
[Work Hours & Benefits] In this section of your credit analyst job description, you’ll want to sell the position to potential applicants just as you sold candidates on the workplace in your first paragraph. Mention benefits, including medical benefits, 401(k), tuition reimbursement, or paid vacation, as well as salary range and bonus potential. You can use a salary tool that allows you to input job title and location to determine what level of compensation credit analysts are likely to expect from an offer in your community or region.
Credit Analyst Qualifications/Skills:
- Knowledge of commercial credit products, market trends, and/or loan procedures
- Attention to detail
- Analytical and critical thinking skills
- Quantitative skills
- Strong time management and multitasking skills
- Strong communication skills
- Project management
- Ability to research financial topics and present accessible reports on that research to colleagues with differing areas of expertise
- Adept at high-stakes decision making and negotiation
- Strong interpersonal and customer service skills, including the ability to form and maintain client and business relationships
- Business acumen
- Discretion and a dedication to protecting the financial privacy of clients, business partners, and employer
Education, Experience, & Licensing Requirements:
- Bachelor’s degree in business, accounting, economics, or finance, master’s degree a plus
- CFA certification a plus
- Experience using spreadsheet software
- Basic understanding of accounting, statistics, and economics
- Previous experience as a credit analyst or loan officer preferred
[Call to Action] Your job description should finish strong with a call to action that urges applicants to send a resume or fill out an online application.
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