The basic job of a credit analyst is to assess credit applicants in order to weigh up credit worth and also the risks involved. In a few words, credit analyst does take on risk assessment study of an assortment of lending proposals. This can range from the easiest to the most complicated ones unheard thus far. Credit analysis does proffer several career opportunities within the financial services sector getting diverse more and more.
Credit Analyst Duties and Responsibilities:
- The kind of duty and responsibility does depend on the mode of business. However, there are some major aspects.
- A credit analyst has to render first-rate service to internal clientele by means of taking on risk assessment study of an assortment of lending proposals
- One of the basic jobs of a credit analyst is to make a comprehensive analysis of financial information. These include management accounts, statements along with cash flow statements
- A credit analyst needs to develop specimens of credit information to predict forms along with trends making use of professional statistical software
- The credit analyst is required to evaluate credit worth of client firms
- He/she also plays a key role in liaising with other employees inside the company. Some of these are product specialists and account managers
- A credit analyst must remain informed of changing realities; officially authorized compliance and also market-risk-related issues, especially those that are entailed with the sanction of credit.
Credit Analyst Skills and Qualities:
- A credit analyst remains responsible for quantitative with qualitative study of applicant requests for loans and lines of credit. As a result, he/she must be knowledgeable enough of fiscal developments in the environs.
- He/she must be proficient enough to appraise collateral values, credit risk, and set up written credit-approval packages.
Credit Analyst Education Requirements:
The candidate must be a graduate in commerce stream. A MBA degree in financial stream will provide edge over the others.