Summary Report for:
13-2041.00 - Credit Analysts
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:
Credit Analyst, Analyst, Credit Manager, Underwriter, Credit Administrator, Credit and Collections Analyst, Credit Representative, Credit Risk Analyst, Risk Analyst
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Work Context | Job Zone | Education | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment | Job Openings
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.
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Tools & Technology
Tools used in this occupation:
| Calculators or accessories — 10-key calculators |
| Desktop computers |
| Notebook computers |
| Personal computers |
| Scanners |
Technology used in this occupation:
| Analytical or scientific software — FinEng Solutions software |
| Content workflow software — Equifax Application Engine; Experian Transact SM |
| Document management software — Credit adjudication and lending management system CALMS software |
| Financial analysis software — Experian Credinomics; Experian FraudShield; Fair Isaac Capstone Decision Manager; Moody's KMV Risk Advisor |
| Office suite software — Experian Strategy Management |
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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. |
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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. |
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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. |
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Work Activities
| Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources. |
| Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. |
| Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. |
| Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts. |
| Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems. |
| Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time. |
| Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form. |
| Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail. |
| Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. |
| Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work. |
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Work Context
| Electronic Mail — How often do you use electronic mail in this job? |
| Telephone — How often do you have telephone conversations in this job? |
| Spend Time Sitting — How much does this job require sitting? |
| Contact With Others — How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? |
| Indoors, Environmentally Controlled — How often does this job require working indoors in environmentally controlled conditions? |
| Face-to-Face Discussions — How often do you have to have face-to-face discussions with individuals or teams in this job? |
| Letters and Memos — How often does the job require written letters and memos? |
| Frequency of Decision Making — How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization? |
| Importance of Being Exact or Accurate — How important is being very exact or highly accurate in performing this job? |
| Time Pressure — How often does this job require the worker to meet strict deadlines? |
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Job Zone
| Title |
Job Zone Four: Considerable Preparation Needed |
| Education |
Most of these occupations require a four-year bachelor's degree, but some do not. |
| Related 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. |
| Job Training |
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training. |
| Job Zone Examples |
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents. |
| SVP Range |
(7.0 to < 8.0) |
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Education
Percentage of Respondents |
Education Level Required |
50   |
Bachelor's degree |
| 27 |
Associate's degree |
| 13 |
Some college, no degree |
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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. |
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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. |
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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. |
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Related Occupations
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Wages & Employment Trends
National
| Median wages (2012) |
$29.36 hourly, $61,080 annual |
| Employment (2010) |
63,000 employees |
| Projected growth (2010-2020) |
Faster than average (20% to 28%)
|
| Projected job openings (2010-2020) |
25,900 |
| Top industries (2010) |
|
State & National
Source: Bureau of Labor Statistics 2012 wage data
and 2010-2020 employment projections
.
"Projected growth" represents the estimated change in total employment over the projections period (2010-2020). "Projected job openings" represent openings due to growth and replacement.
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Job Openings on the Web
Find Jobs
for Credit Analysts
State & National Job Banks
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Bright Outlook
