Credit Analysts
Overview
Salary
Demand
Core Tasks
Technology Skills
Tools Used
Top 10 Knowledge Required
Top 10 Skills
Top 10 Abilities
Top 10 Work Activities
Detailed Work Activities
Work Context
Education
Majors
Interests
Top 10 Work Styles
Work Values
Related Careers
Overview
Job Zone Four: Considerable Preparation Needed
Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
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.
Salary Salary
Salary at 10th Percentile: $44K
Salary at 25th Percentile: $56K
Median Salary: $74K
Salary at 75th Percentile: $103K
Salary at 90th Percentile: $146K
Demand
Core Tasks
Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
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.
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.
Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
Contact customers to collect payments on delinquent accounts.
Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
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.
Consult with customers to resolve complaints and verify financial and credit transactions.
Technology Skills
Technology
Example
Hot Technology
Tools Used
Tool
Example
Top 10 Knowledge Required
Economics and Accounting
90%
Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
English Language
78%
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Mathematics
78%
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Law and Government
66%
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Clerical
60%
Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Computers and Electronics
57%
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Customer and Personal Service
57%
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.
Administration and Management
56%
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.
Production and Processing
43%
Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
Education and Training
42%
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Top 10 Skills
Critical Thinking
78%
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Learning
73%
Understanding the implications of new information for both current and future problem-solving and decision-making.
Reading Comprehension
73%
Understanding written sentences and paragraphs in work related documents.
Speaking
73%
Talking to others to convey information effectively.
Active Listening
70%
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.
Mathematics
68%
Using mathematics to solve problems.
Judgment and Decision Making
63%
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Writing
63%
Communicating effectively in writing as appropriate for the needs of the audience.
Complex Problem Solving
60%
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Monitoring
60%
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Top 10 Abilities
Oral Expression
80%
The ability to communicate information and ideas in speaking so others will understand.
Inductive Reasoning
78%
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Oral Comprehension
78%
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension
78%
The ability to read and understand information and ideas presented in writing.
Deductive Reasoning
75%
The ability to apply general rules to specific problems to produce answers that make sense.
Mathematical Reasoning
75%
The ability to choose the right mathematical methods or formulas to solve a problem.
Number Facility
75%
The ability to add, subtract, multiply, or divide quickly and correctly.
Problem Sensitivity
75%
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Information Ordering
73%
The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
Near Vision
73%
The ability to see details at close range (within a few feet of the observer).
Top 10 Work Activities
Analyzing Data or Information
93%
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Getting Information
92%
Observing, receiving, and otherwise obtaining information from all relevant sources.
Interacting With Computers
89%
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Processing Information
88%
Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Communicating with Supervisors, Peers, or Subordinates
85%
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Making Decisions and Solving Problems
81%
Analyzing information and evaluating results to choose the best solution and solve problems.
Updating and Using Relevant Knowledge
77%
Keeping up-to-date technically and applying new knowledge to your job.
Interpreting the Meaning of Information for Others
76%
Translating or explaining what information means and how it can be used.
Establishing and Maintaining Interpersonal Relationships
75%
Developing constructive and cooperative working relationships with others, and maintaining them over time.
Evaluating Information to Determine Compliance with Standards
75%
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Detailed Work Activities
Assess risks to business operations.
Analyze business or financial data.
Prepare contracts or other transaction documents.
Calculate data to inform organizational operations.
Prepare financial documents, reports, or budgets.
Analyze market conditions or trends.
Correspond with customers to answer questions or resolve complaints.
Collect payments for goods or services.
Assess financial status of clients.
Advise others on financial matters.
Examine financial records.
Confer with others about financial matters.
Work Context
Electronic Mail
How often do you use electronic mail in this job?
Indoors, Environmentally Controlled
How often does this job require working indoors in environmentally controlled conditions?
Spend Time Sitting
How much does this job require sitting?
Face-to-Face Discussions
How often do you have to have face-to-face discussions with individuals or teams in this job?
Telephone
How often do you have telephone conversations in this job?
Importance of Being Exact or Accurate
How important is being very exact or highly accurate in performing this job?
Letters and Memos
How often does the job require written letters and memos?
Importance of Repeating Same Tasks
How important is repeating the same physical activities (e.g., key entry) or mental activities (e.g., checking entries in a ledger) over and over, without stopping, to performing this job?
Frequency of Decision Making
How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?
Freedom to Make Decisions
How much decision making freedom, without supervision, does the job offer?
Education
Majors
Major
Interests
Conventional
100%
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
77%
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.
Investigative
43%
Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Social
43%
Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Realistic
39%
Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
Artistic
15%
Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
Top 10 Work Styles
Analytical Thinking
98%
Job requires analyzing information and using logic to address work-related issues and problems.
Attention to Detail
96%
Job requires being careful about detail and thorough in completing work tasks.
Integrity
92%
Job requires being honest and ethical.
Dependability
88%
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Initiative
86%
Job requires a willingness to take on responsibilities and challenges.
Stress Tolerance
83%
Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Adaptability/Flexibility
80%
Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Achievement/Effort
77%
Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Cooperation
74%
Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Independence
74%
Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
Work Values
Relationships
72%
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.
Achievement
62%
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Independence
62%
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Recognition
62%
Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Support
62%
Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Working Conditions
58%
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
