Credit Analysts
SOC: 13-2041.00

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 decision making.


National Salary Information:

Hourly Statistics:

Annual Statistics:

Source: Bureau of Labor Statistics 2015 wage data.


Employment Projections:

Employment (2014):
69,400 employed

Projected (2024):
73,600 employed

Projected growth (2014-2024)


Source: Bureau of Labor Statistics 2015 2014-2024 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.


Alternate Titles:

  • Analyst
  • Credit Administrator
  • Credit Analyst
  • Credit and Collections Analyst
  • Credit Assessment Analyst
  • Credit Manager
  • Credit Negotiator
  • Credit Representative
  • Credit Risk Analyst
  • Credit Specialist
  • Escrow Representative
  • Factorer
  • Financial Analyst
  • Financing Analyst
  • Loan Officer
  • Loan Review Analyst
  • Risk Analyst
  • Underwriter


  • Job Zone Four: Considerable Preparation Needed

    Experience:

    A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

    Education:

    Most of these occupations require a four-year bachelor's degree, but some do not.

    Job Training:

    Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.


    Required Skills:

  • Reading Comprehension
  • Active Listening
  • Writing
  • Speaking
  • Mathematics
  • Science
  • Critical Thinking
  • Active Learning
  • Learning Strategies
  • Monitoring
  • Social Perceptiveness
  • Coordination
  • Persuasion
  • Negotiation
  • Instructing
  • Service Orientation
  • Complex Problem Solving
  • Operations Analysis
  • Programming
  • Operation Monitoring
  • Operation and Control
  • Quality Control Analysis
  • Judgment and Decision Making
  • Systems Analysis
  • Systems Evaluation
  • Time Management
  • Management of Financial Resources
  • Management of Material Resources
  • Management of Personnel Resources

  • Knowledge Used:

  • Administration and Management
  • Clerical
  • Economics and Accounting
  • Sales and Marketing
  • Customer and Personal Service
  • Personnel and Human Resources
  • Production and Processing
  • Computers and Electronics
  • Mathematics
  • Psychology
  • Sociology and Anthropology
  • Geography
  • Education and Training
  • English Language
  • Foreign Language
  • Philosophy and Theology
  • Law and Government
  • Telecommunications
  • Communications and Media
  • Transportation


  • Tasks:

  • Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
  • Prepare reports that include the degree of risk involved in extending credit or lending money.
  • Evaluate customer records and recommend payment plans based on earnings, savings data, payment history, and purchase activity.
  • Confer with credit association and other business representatives to exchange credit information.
  • Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
  • Generate financial ratios, using computer programs, to evaluate customers' financial status.
  • Review individual or commercial customer files to identify and select delinquent accounts for collection.
  • Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
  • Consult with customers to resolve complaints and verify financial and credit transactions.
  • Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.

  • Tools & Technology:

  • 10-key calculators
  • Desktop computers
  • Notebook computers
  • Personal computers
  • Scanners
  • CGI-AMS BureauLink Enterprise
  • CGI-AMS CACS Enterprise
  • CGI-AMS Strata
  • Credit adjudication and lending management system CALMS software
  • Credit and risk analysis software
  • Credit fraud detection software
  • Dun and Bradstreet Global DecisionMaker
  • eCredit Enterprise
  • Equifax Advanced Decisioning
  • Equifax Application Engine
  • Equifax InterConnect
  • Experian Credinomics
  • Experian Detect
  • Experian FraudShield
  • Experian Quest
  • Experian Retention Triggers
  • Experian Strategy Management
  • Experian Transact SM
  • Fair Isaac Application Risk Model Software
  • Fair Isaac Capstone Decision Manager
  • Fair Isaac Falcon ID
  • FinEng Solutions software
  • Microsoft Excel
  • Microsoft Office software
  • Microsoft PowerPoint
  • Microsoft Word
  • Moody's KMV CreditEdge
  • Moody's KMV Decisions
  • Moody's KMV Financial Analyst
  • Moody's KMV Risk Advisor
  • Moody's KMV Risk Analyst
  • SAP software
  • SAS software
  • Structured query language SQL


  • business and financial operations


    industry stats

    SOC: 13-0000

    Total Employed: 7,032,560

    Average Annual Salary: $73,800