Find Your Dream Job
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
2034 Projected Employment
64,800
-4% Change From 2024
Explore Credit Analysts video
Tasks you might complete in a day.
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- 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.
- 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.
- 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.
- Consult with customers to resolve complaints and verify financial and credit transactions.
- Contact customers to collect payments on delinquent accounts.
- 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.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
- Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
Subject areas you may need to master.
- Telecommunications - Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
- 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.
- 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.
- Biology - Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- 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.
- 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.
- 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.
- 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.
- 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.
- History and Archeology - Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
- 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.
- 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, and rules of composition and grammar.
- Transportation - Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
- 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.
- 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.
- 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.
- Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- 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.
- 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.
- Food Production - Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
- 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.
- Sociology and Anthropology - Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
- Fine Arts - Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
- 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.
- Design - Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
- 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.
- 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.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- 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.
- Social Perceptiveness - Understanding people's reactions.
- Time Management - Managing your time and the time of other people.
- Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
- Coordination - Changing what is done based on other people's actions.
- Technology Design - Making equipment and technology useful for customers.
- Management of Financial Resources - Making spending decisions and keeping track of what is spent.
- Writing - Writing things for co-workers or customers.
- Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
- Operation and Control - Using equipment or systems.
- Systems Evaluation - Measuring how well a system is working and how to improve it.
- Science - Using scientific rules and strategies to solve problems.
- Persuasion - Talking people into changing their minds or their behavior.
- Repairing - Repairing machines or systems using the right tools.
- Negotiation - Bringing people together to solve differences.
- Management of Personnel Resources - Selecting and managing the best workers for a job.
- Troubleshooting - Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
- Monitoring - Keeping track of how well people and/or groups are doing in order to make improvements.
- Installation - Installing equipment, machines, wiring, or computer programs.
- Quality Control Analysis - Testing how well a product or service works.
- Speaking - Talking to others.
- Operations Analysis - Figuring out what a product or service needs to be able to do.
- Active Listening - Listening to others, not interrupting, and asking good questions.
- Learning Strategies - Using the best training or teaching strategies for learning new things.
- Service Orientation - Looking for ways to help people.
- Operations Monitoring - Watching gauges, dials, or display screens to make sure a machine is working.
- Reading Comprehension - Reading work-related information.
- Active Learning - Figuring out how to use new ideas or things.
- Instructing - Teaching people how to do something.
- Programming - Writing computer programs.
- Mathematics - Using math to solve problems.
- Equipment Selection - Deciding what kind of tools and equipment are needed to do a job.
- Management of Material Resources - Managing equipment and materials.
- Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
- Equipment Maintenance - Planning and doing the basic maintenance on equipment.
- Systems Analysis - Figuring out how a system should work and how changes in the future will affect it.
- Explosive Strength - Jumping, sprinting, or throwing something.
- Glare Sensitivity - Seeing something even if there is a glare or very bright light.
- Reaction Time - Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
- Visual Color Discrimination - Noticing the difference between colors, including shades and brightness.
- Oral Expression - Communicating by speaking.
- Response Orientation - Quickly deciding if you should move your hand, foot, or other body part.
- Speech Clarity - Speaking clearly.
- Depth Perception - Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
- Far Vision - Seeing details that are far away.
- Wrist-Finger Speed - Making fast, simple, repeated movements of your fingers, hands, and wrists.
- Night Vision - Seeing at night or under low light.
- Fluency of Ideas - Coming up with lots of ideas.
- Visualization - Imagining how something will look after it is moved around or changed.
- Control Precision - Quickly changing the controls of a machine, car, truck or boat.
- Arm-Hand Steadiness - Keeping your arm or hand steady.
- Selective Attention - Paying attention to something without being distracted.
- Dynamic Strength - Exercising for a long time without your muscles getting tired.
- Hearing Sensitivity - Telling the difference between sounds.
- Trunk Strength - Using your lower back and stomach.
- Auditory Attention - Paying attention to one sound while there are other distracting sounds.
- Extent Flexibility - Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
- Deductive Reasoning - Using rules to solve problems.
- Sound Localization - Noticing the direction that a sound came from.
- Written Expression - Communicating by writing.
- Spatial Orientation - Knowing where things are around you.
- Finger Dexterity - Putting together small parts with your fingers.
- Oral Comprehension - Listening and understanding what people say.
- Problem Sensitivity - Noticing when problems happen.
- Multilimb Coordination - Using your arms and/or legs together while sitting, standing, or lying down.
- Perceptual Speed - Quickly comparing groups of letters, numbers, pictures, or other things.
- Mathematical Reasoning - Choosing the right type of math to solve a problem.
- Information Ordering - Ordering or arranging things.
- Near Vision - Seeing details up close.
- Static Strength - Lifting, pushing, pulling, or carrying.
- Gross Body Equilibrium - Keeping your balance or staying upright.
- Stamina - Exercising for a long time without getting out of breath.
- Speech Recognition - Recognizing spoken words.
- Written Comprehension - Reading and understanding what is written.
- Manual Dexterity - Holding or moving items with your hands.
- Flexibility of Closure - Seeing hidden patterns.
- Memorization - Remembering words, numbers, pictures, or steps.
- Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
- Number Facility - Adding, subtracting, multiplying, or dividing.
- Gross Body Coordination - Moving your arms, legs, and mid-section together while your whole body is moving.
- Speed of Limb Movement - Quickly moving your arms and legs.
- Dynamic Flexibility - Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
- Peripheral Vision - Seeing something to your side when your are looking ahead.
- Rate Control - Changing when and how fast you move based on how something else is moving.
- Originality - Creating new and original ideas.
- Speed of Closure - Quickly knowing what you are looking at.
- Time Sharing - Doing two or more things at the same time.
- Category Flexibility - Grouping things in different ways.
Average Education Attained
Highest level of education earned by people in this career.
Members Only
Risk Management - Lead Credit Officer - Vice...
Career Coaching
Need a guide to help you on your career journey or to prepare for your next interview?
You May Also Be Interested In
Content sourced from United States Department of Labor Employment and Training Administration ("DOLETA") and the Minnesota Department of Employment & Economic Development ("DEED")