Credit analyst job responsibilities. Profession credit analyst

A credit analyst is a specialist who determines the level of solvency of clients using the method financial analysis. It is also the responsibility of the credit analyst to determine the rating of valuable documents. The main task facing a specialist in this profile is the analysis of bank clients in order to provide information to the credit committee. The credit committee decides whether to issue a loan to the client. Depending on the information the credit committee receives from the credit analyst, the loan may not be issued. The amount of financial resources requested also depends on this.

How will the nature of work and the demand for the Credit Analyst profession change in the future?

Today you can apply for a loan online. In the future, special computer programs will make decisions about issuing a loan by requesting information about a potential client in big data databases.

An analyst is a specialist who processes data and draws up certain forecasts, analytical tables, graphs, and plans based on them. Essentially, this is the person who selects the main points from the entire array of available information, analyzes and structures them, providing the data in a form that is easy to understand and ready for further use.

Analyst Responsibilities

The analyst's work process is reduced to a chain of sequential actions. First of all, he receives data and studies it in detail, after which he makes certain assumptions and theses with the help of which subsequent work can be carried out. Further, this whole matter is carefully checked, supported by clear justifications, projects and methodological works. Ultimately, the analyst makes a certain conclusion, putting it on paper in the appropriate format and submitting it to management for review. In all this, the specialist is helped by a special software and other modern data processing methods.

At first glance, it may seem that the analyst profession is very boring and monotonous, but this is a deep misconception. The fact is that the tasks assigned to a specialist are never repeated with complete accuracy.

Firstly, this is due to the constantly changing array of data. Secondly, this data often belongs to completely different areas, because absolutely all areas of human life are subject to analytics. This is why analysts are so in demand in modern society, which strives to analyze any event and any information as quickly as possible.

An analyst can get a job in a variety of institutions. These are companies involved in finance and investments, brokerage houses, consulting firms, banks, and large international corporations. In this case, only a specialist does final choice: be on the staff of a specific enterprise, or work directly with clients.

Requirements for an analyst

The analyst profession is very important, but at the same time quite complex, so employers place serious demands on the specialists they hire. Firstly, this profession necessarily requires a higher education in the fields of economics, statistics, finance, or information technology. In addition, the specialist must have good analytical skills, the ability to think logically, and work with large data flows. If we are talking about working in an international company, then knowledge of a foreign language is also mandatory.

Personal qualities that should be inherent in an analyst are: attentiveness, observation, patience, good memory, and the ability to think structurally and analytically.

The salary of a low-level employee starts from 400-500 dollars. As your responsibilities increase, so does your income; in 2-3 years you can claim $1000-1200. Further, much depends on the company’s personnel policy.

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Pros and cons of the analyst profession

Advantages:

• measured work;
• decent wages;
• wide range of application of professional skills;
• opportunity for career growth and rapid salary increases.

Flaws:

• Some people may find computer work boring;
• in case of tight deadlines - irregular working hours;
• problems with employment without work experience.

There are no barriers as such on the career ladder. You can take almost any leadership position in the company, knowing all its business processes from the inside. The ascension of a specialist largely depends on ambitions, desires and professional qualities.

Modern organizations are ready to “fight” for experienced experts who, using the method of financial analysis, can provide reliable information about the creditworthiness of individuals and legal entities. The number of non-performing loans is growing, so lenders need high-quality personnel who can:

• promptly weed out unreliable clients;
• determine the optimal loan rate taking into account risk factors;
• develop profitable lending schemes;
• set the maximum and minimum loan repayment threshold;
• check the documentation required for issuing loans.

Skills and personal qualities

Employers require applicants to be able to make business decisions and defend their point of view. Knowledge of English and experience working in financial organizations are necessary conditions for experts who want to work in large companies and earn a high income.

Responsibilities

• control the client’s financial condition;
• participate in the preparation of internal reporting;
• assess legal risks;
• implement effective measures to deal with problem debt.

Positive aspects of the profession

The banking sector is attracting more and more yesterday's students looking for themselves in life. Being part of this world is prestigious and financially profitable. It is not surprising that competitions for filling vacancies in banks are becoming increasingly complex and competitive. Many people strive to become an employee of a financial organization, often even those whose first higher education far from the world of lending. Hence the interest in the requirements and functions of individual banking professions.

Credit analysis always implies, among other things, a high level of responsibility for decisions made. This means that the credit analyst is fully responsible for how he assesses the applicant’s creditworthiness. Depending on the bank and the immediate job responsibilities of this specialist, either individuals or business representatives will act as applicants. Retail banks actively use the services of credit analysts, but you can often find such vacancies in credit unions.

What is a credit analyst responsible for?

A simple example. There is a bank that has hired a credit analyst to work with those who are unwilling or unable to pay off their credit card debts. The specialist collects data on the entire category of debtors and provides recommendations for each of them. They can be different: reducing the credit limit, closing the limit, forcibly collecting debt, etc.

On the other hand, the same specialist can evaluate a credit card holder who has written an application to increase the limit. The final verdict will depend on him.

What requirements can be put forward to the applicant?

Work experience will also play a role. If you have already worked in a financial organization before submitting your resume, your chances are quite high. Even if you worked in a microfinance center. Most likely, you have already had to analyze applicant data and make decisions.

What skills does a credit counselor need? First of all, hard work and the ability to pay attention to details. Overlooked information may lead to an incorrect conclusion, resulting in harm to either the borrower or the bank.

The credit analyst must be a communicator. If his responsibilities include interviewing applicants, he will have to extract from them information that is not indicated in the application form, but which can have a serious impact on the final grade. Moreover, most borrowers prefer to tell as little as possible. But, unlike a consultant, an analyst will also have to make a decision.

Credit analyst is a specialist who determines the level of solvency of clients using financial analysis. It is also the responsibility of the credit analyst to determine the rating of valuable documents.

The main task facing a specialist in this profile is the analysis of bank clients in order to provide information to the credit committee. The credit committee decides whether to issue a loan to the client. Depending on the information the credit committee receives from the credit analyst, the loan may not be issued. The amount of financial resources requested also depends on this.

A credit analyst must have a higher education in a special profile, that is, graduate from a faculty teaching banking, finance or economics.

This profession is modern stage highly in demand in various financial institutions. Due to well-known trends, the number of non-repaid loans is increasing nowadays. The problems that arise from this can be dealt with by a credit analyst, which is why any banking institution needs a highly qualified specialist in this profile. But at the same time, at the present stage, many employers do not prioritize the factor of higher education, but look at the level of the specialist’s abilities. The main emphasis is placed on the fact that a person as a specialist does not grow up in educational institutions, and during practice, that is, already working in some financial institutions. Thus, specialists with experience are more in demand, because they have managed to see the entire banking system from the inside.

Credit Analyst Responsibilities

The responsibilities of a credit analyst include the following:

• analysis of client applications on lending issues;
• assessment of risks associated with lending to certain clients;
• comparison of the risk level with the proposed scheme for securing a credit operation;
• conducting secondary financial analysis and preparing recommendations to the financial credit committee;
• verification and approval of loan documents - the analyst checks whether the documentation meets the conditions under which loans can be issued;
• Also, a credit analyst can make recommendations when developing various lending schemes.

The credit analyst works closely with the loan officer. The lending specialist directly provides him with additional information on clients. In some cases, a credit analyst can independently conduct conversations with clients wishing to obtain a loan.

Requirements for a credit analyst

1) As mentioned above, employers pay attention not only to higher education, but also, mainly, to work experience in financial institutions. A period of one year or more is considered acceptable.

2) Also, the credit analyst must be fluent in English, his knowledge of working with a computer must be at a high level.

3) And, of course, such a specialist must master the specifics of financial work, understand financial issues, know the norms of Russian legislation, be communicative and have the appropriate qualities that allow professional and competent communication with clients.

Benefits of being a credit analyst

• First of all, it is necessary to note the decent level of financial remuneration for the work of specialists in this field.
• In addition, this work is prestigious and implies career growth for a specialist.
• Working as a credit analyst, a person gets the opportunity to use his creative potential to some extent, because any banking institution welcomes the efforts of a professional in terms of making the offered product more accessible to customers.
• The work of such specialists depends on the level of skills and work experience.
• A credit analyst has the prospect of being promoted and becoming a credit expert who analyzes credit financial projects.
• The most qualified and creative analysts can become heads of lending departments. The prospects for working in brokerage companies are much higher.