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 decisionmaking.
Also Known As:
Credit Administrator
Credit Analyst
Credit Officer
Credit Representative
Credit Risk Analyst
Credit and Collections Analyst
Municipal Fixed Income Analyst
Wages
Annual wages for Credit Analysts in United States
Job Outlook
Below Average
New job opportunities are less likely in the future
United States
2033 Projected Employment
70,800
-4% Change From 2023
Explore Credit Analysts video
Tasks you might complete in a day.
- Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
- Confer with credit association and other business representatives to exchange credit information.
- Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
- Contact customers to collect payments on delinquent accounts.
- Prepare reports that include the degree of risk involved in extending credit or lending money.
- Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- Consult with customers to resolve complaints and verify financial and credit transactions.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
- Generate financial ratios, using computer programs, to evaluate customers' financial status.
- Review individual or commercial customer files to identify and select delinquent accounts for collection.
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
Subject areas you may need to master.
- Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- Engineering and Technology - Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
- Foreign Language - Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
- Production and Processing - Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Biology - Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
- Building and Construction - Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
- Therapy and Counseling - Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
- Mechanical - Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
- Public Safety and Security - Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
- 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.
- Food Production - Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
- Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Administrative - Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
- Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Sociology and Anthropology - Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
- Telecommunications - Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
- Chemistry - Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
- Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
- Fine Arts - Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Physics - Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.
- Philosophy and Theology - Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.
- Medicine and Dentistry - Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
- Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
- Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- History and Archeology - Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
- Geography - Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.
Strengths you may need in this role.
- Learning Strategies - Using the best training or teaching strategies for learning new things.
- Installation - Installing equipment, machines, wiring, or computer programs.
- Time Management - Managing your time and the time of other people.
- Reading Comprehension - Reading work-related information.
- Equipment Maintenance - Planning and doing the basic maintenance on equipment.
- Management of Financial Resources - Making spending decisions and keeping track of what is spent.
- Speaking - Talking to others.
- Persuasion - Talking people into changing their minds or their behavior.
- Service Orientation - Looking for ways to help people.
- Management of Personnel Resources - Selecting and managing the best workers for a job.
- Monitoring - Keeping track of how well people and/or groups are doing in order to make improvements.
- Social Perceptiveness - Understanding people's reactions.
- Instructing - Teaching people how to do something.
- Systems Evaluation - Measuring how well a system is working and how to improve it.
- Equipment Selection - Deciding what kind of tools and equipment are needed to do a job.
- Science - Using scientific rules and strategies to solve problems.
- Active Listening - Listening to others, not interrupting, and asking good questions.
- Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
- Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
- Troubleshooting - Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
- Repairing - Repairing machines or systems using the right tools.
- Mathematics - Using math to solve problems.
- Active Learning - Figuring out how to use new ideas or things.
- Operation and Control - Using equipment or systems.
- Management of Material Resources - Managing equipment and materials.
- Writing - Writing things for co-workers or customers.
- Coordination - Changing what is done based on other people's actions.
- Negotiation - Bringing people together to solve differences.
- Programming - Writing computer programs.
- Technology Design - Making equipment and technology useful for customers.
- Systems Analysis - Figuring out how a system should work and how changes in the future will affect it.
- Operations Monitoring - Watching gauges, dials, or display screens to make sure a machine is working.
- Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
- Operations Analysis - Figuring out what a product or service needs to be able to do.
- Quality Control Analysis - Testing how well a product or service works.
- Originality - Creating new and original ideas.
- Arm-Hand Steadiness - Keeping your arm or hand steady.
- Manual Dexterity - Holding or moving items with your hands.
- Selective Attention - Paying attention to something without being distracted.
- Spatial Orientation - Knowing where things are around you.
- Problem Sensitivity - Noticing when problems happen.
- Deductive Reasoning - Using rules to solve problems.
- Speech Clarity - Speaking clearly.
- Wrist-Finger Speed - Making fast, simple, repeated movements of your fingers, hands, and wrists.
- Explosive Strength - Jumping, sprinting, or throwing something.
- Gross Body Equilibrium - Keeping your balance or staying upright.
- Gross Body Coordination - Moving your arms, legs, and mid-section together while your whole body is moving.
- Visual Color Discrimination - Noticing the difference between colors, including shades and brightness.
- Control Precision - Quickly changing the controls of a machine, car, truck or boat.
- Dynamic Flexibility - Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
- Number Facility - Adding, subtracting, multiplying, or dividing.
- Reaction Time - Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
- Oral Comprehension - Listening and understanding what people say.
- Stamina - Exercising for a long time without getting out of breath.
- Dynamic Strength - Exercising for a long time without your muscles getting tired.
- Memorization - Remembering words, numbers, pictures, or steps.
- Mathematical Reasoning - Choosing the right type of math to solve a problem.
- Hearing Sensitivity - Telling the difference between sounds.
- Speed of Closure - Quickly knowing what you are looking at.
- Glare Sensitivity - Seeing something even if there is a glare or very bright light.
- Visualization - Imagining how something will look after it is moved around or changed.
- Written Expression - Communicating by writing.
- Category Flexibility - Grouping things in different ways.
- Flexibility of Closure - Seeing hidden patterns.
- Speech Recognition - Recognizing spoken words.
- Finger Dexterity - Putting together small parts with your fingers.
- Time Sharing - Doing two or more things at the same time.
- Peripheral Vision - Seeing something to your side when your are looking ahead.
- Depth Perception - Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
- Auditory Attention - Paying attention to one sound while there are other distracting sounds.
- Speed of Limb Movement - Quickly moving your arms and legs.
- Extent Flexibility - Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
- Near Vision - Seeing details up close.
- Trunk Strength - Using your lower back and stomach.
- Perceptual Speed - Quickly comparing groups of letters, numbers, pictures, or other things.
- Information Ordering - Ordering or arranging things.
- Rate Control - Changing when and how fast you move based on how something else is moving.
- Oral Expression - Communicating by speaking.
- Night Vision - Seeing at night or under low light.
- Far Vision - Seeing details that are far away.
- Fluency of Ideas - Coming up with lots of ideas.
- Written Comprehension - Reading and understanding what is written.
- Static Strength - Lifting, pushing, pulling, or carrying.
- Response Orientation - Quickly deciding if you should move your hand, foot, or other body part.
- Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
- Sound Localization - Noticing the direction that a sound came from.
- Multilimb Coordination - Using your arms and/or legs together while sitting, standing, or lying down.
Average Education Attained
Highest level of education earned by people in this career.
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Content sourced from United States Department of Labor Employment and Training Administration ("DOLETA") and the Minnesota Department of Employment & Economic Development ("DEED")