Adrienne SmithWhat Does a Credit Analyst Do?
Credit analysts perform high-level analyses of financial information and credit data to assess credit-worthiness and financial status of businesses and individuals applying for loans. Based on their analyses, they evaluate risk levels and recommend new credit lines, credit limits, and loan extensions.
Credit Analyst Job Overview
In the credit analyst role, you will review credit applications and calculate financial ratios and credit metrics. You will consult with credit associations and rating agencies to obtain relevant information. It is critical that you accurately assess the credit score and repayment ability of the borrower. Success in this role will be demonstrated by providing valuable insights to help the firm make sound decisions on lending, safeguard receivables, boost interest income, and limit bad credit or non-performing loans.
Credit Analyst Job Responsibilities and Duties
- Prepares credit reports and loan recommendations
- Evaluates credit profile, risk exposure, and other risk factors
- Analyzes balance sheet, cash flow, and credit history
- Computes interest accruals and plots repayment schedule
- Maintains and updates existing credit files
- Stays updated about industry news, key trends, and macroeconomic news
- Ensures compliance with credit policies
Credit Analyst Job Requirements
- Minimum 3 years of relevant experience
- Proficient in MS Office
- Deep understanding of credit ratings, credit metrics, and credit analytics
- Working knowledge of AR modules, ERP system, SAP, Sage, IFS, and other similar software
- Outstanding written and verbal communication skills
- Strong analytical, organizational, and problem-solving skills
- Bachelor’s degree in Finance, Accounting, or related field
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