National
| Median wages (2008) |
$26.56 hourly, $55,250 annual |
| Employment (2006) |
67,000 employees |
| Projected growth (2006-2016) |
Little or no change (-2% to 2%)
|
| Projected need (2006-2016) |
27,000 additional employees |
13-2041.00 - Credit Analysts
Analyze current 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 this 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
- 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.
back to top
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:
| Content workflow software — Equifax Application Engine; Experian Transact SM |
| Document management software — Credit adjudication and lending management system CALMS software |
| Financial analysis software — CGI-AMS CACS Enterprise; eCredit Enterprise; Experian Credinomics; Moody's KMV Risk Advisor |
| Information retrieval or search software — CGI-AMS BureauLink Enterprise |
| Office suite software — Experian Strategy Management |
