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Credit Analysts
SOC Code: 13-2041.00

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.

Sample of reported job titles: Analyst, Credit Administrator, Credit Analyst, Credit and Collections Analyst, Credit Manager, Credit Representative, Credit Risk Analyst, Risk Analyst, Underwriter

Tasks

  • Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
  • Generate financial ratios, using computer programs, to evaluate customers' financial status.
  • Consult with customers to resolve complaints and verify financial and credit transactions.
  • Prepare reports that include 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.
  • 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.
  • Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
  • Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.
  • Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.

Technology Skills

  • Analytical or scientific software - SAS
  • Business intelligence and data analysis software - Oracle Business Intelligence Enterprise Edition
  • Content workflow software - Equifax Application Engine; Experian Transact SM
  • Data base user interface and query software - Structured query language SQL
  • Document management software - Credit adjudication and lending management system CALMS
  • Enterprise resource planning ERP software - Oracle JD Edwards EnterpriseOne ; SAP
  • Financial analysis software - CGI-AMS Strata; Experian Credinomics; Fair Isaac Capstone Decision Manager; Moody's KMV Risk Advisor (see all 21 examples)
  • Information retrieval or search software - CGI-AMS BureauLink Enterprise
  • Office suite software - Experian Strategy Management; Microsoft Office
  • Presentation software - Microsoft PowerPoint
  • Spreadsheet software - Microsoft Excel
  • Word processing software - Microsoft Word

Tools Used

  • Desktop calculator - 10-key calculators
  • Desktop computers
  • Notebook computers
  • Personal computers
  • Scanners

Knowledge

  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

Skills

  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Speaking - Talking to others to convey information effectively.
  • Mathematics - Using mathematics to solve problems.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Service Orientation - Actively looking for ways to help people.

Abilities

  • Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Speech Clarity - The ability to speak clearly so others can understand you.
  • Speech Recognition - The ability to identify and understand the speech of another person.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Flexibility of Closure - The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
  • Selective Attention - The ability to concentrate on a task over a period of time without being distracted.

Interests

  • Interest code: CE
    • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
    • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Work Context

  • Electronic Mail - 90% responded “Every day.”
  • Telephone - 90% responded “Every day.”
  • Spend Time Sitting - 70% responded “Continually or almost continually.”
  • Contact With Others - 60% responded “Constant contact with others.”
  • Indoors, Environmentally Controlled - 87% responded “Every day.”
  • Face-to-Face Discussions - 60% responded “Every day.”
  • Letters and Memos - 47% responded “Every day.”
  • Frequency of Decision Making - 53% responded “Every day.”
  • Importance of Being Exact or Accurate - 40% responded “Very important.”
  • Time Pressure - 50% responded “Once a week or more but not every day.”
  • Structured versus Unstructured Work - 57% responded “Some freedom.”
  • Impact of Decisions on Co-workers or Company Results - 57% responded “Important results.”
  • Importance of Repeating Same Tasks - 33% responded “Extremely important.”
  • Freedom to Make Decisions - 57% responded “Some freedom.”
  • Duration of Typical Work Week - 66% responded “40 hours.”
  • Work With Work Group or Team - 37% responded “Very important.”
  • Spend Time Making Repetitive Motions - 30% responded “More than half the time.”
  • Deal With External Customers - 27% responded “Extremely important.”
  • Frequency of Conflict Situations - 33% responded “Once a year or more but not every month.”
  • Deal With Unpleasant or Angry People - 43% responded “Once a month or more but not every week.”
  • Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or Controls - 37% responded “Never.”

Education

Percentage of RespondentsEducation Level Required
50%Bachelor's degree
27%Associate's degree
7%High school diploma or equivalent

Work Styles

  • Integrity - Job requires being honest and ethical.
  • Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
  • Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
  • Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
  • Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
  • Initiative - Job requires a willingness to take on responsibilities and challenges.
  • Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • Persistence - Job requires persistence in the face of obstacles.
  • Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
  • Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
  • Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.

Work Values

  • Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
  • Support - Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
  • Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.

Wages & Trends

  • Median wages (2017)
    • $34.27 hourly, $71,290 annual
  • Employment (2016)
    • 74,000 employees
  • Projected growth (2016-2026)
    • Average (5% to 9%)
  • Projected job openings (2016-2026)
    • 6,800

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