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.
Sample of reported job titles:
Credit Administrator, Credit Analyst, Credit and Collections Analyst, Credit Officer, Credit Representative, Credit Risk Analyst, Municipal Fixed Income Analyst
Occupation-Specific Information
Tasks
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- Prepare reports that include the degree of risk involved in extending credit or lending money.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
- 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.
Technology Skills
- Analytical or scientific software:SAS statistical software
- Business intelligence and data analysis software:Oracle Business Intelligence Enterprise Edition
- Content workflow software:Equifax Application Engine,Experian Transact SM
- Data base user interface and query software:Microsoft SQL Server,Structured query language SQL
- Development environment software:Microsoft Visual Basic,Microsoft Visual Basic for Applications VBA
Occupational Requirements
Work Activities
- Analyzing Data or Information:Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Getting Information:Observing, receiving, and otherwise obtaining information from all relevant sources.
- Working with Computers:Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Processing Information:Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Communicating with Supervisors, Peers, or Subordinates:Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Detailed Work Activities
- Advise others on financial matters.
- Analyze business or financial data.
- Analyze market conditions or trends.
- Assess financial status of clients.
- Assess risks to business operations.
Work Context
- Electronic Mail:100% responded"Every day"
- Indoors, Environmentally Controlled:100% responded"Every day"
- Spend Time Sitting:85% responded"Continually or almost continually"
- Face-to-Face Discussions:79% responded"Every day"
- Time Pressure:70% responded"Once a week or more but not every day"
Worker Requirements
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.
- Reading Comprehension:Understanding written sentences and paragraphs in work-related documents.
- Speaking:Talking to others to convey information effectively.
- 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.
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.
- Law and Government:Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Education
How much education does a new hire need to perform a job in this occupation? Respondents said:
- 95%Bachelor's Degree
Worker Characteristics
Abilities
- Oral Expression:The ability to communicate information and ideas in speaking so others will understand.
- Inductive Reasoning:The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Oral Comprehension:The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Comprehension:The ability to read and understand information and ideas presented in writing.
- Deductive Reasoning:The ability to apply general rules to specific problems to produce answers that make sense.
Interests
- 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.
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.
- Independence:Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
- 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.
Work Styles
- Analytical Thinking:Job requires analyzing information and using logic to address work-related issues and problems.
- Attention to Detail:Job requires being careful about detail and thorough in completing work tasks.
- Integrity:Job requires being honest and ethical.
- Dependability:Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Initiative:Job requires a willingness to take on responsibilities and challenges.
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