Career Overview
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
Alternate Job Titles
- Commercial Credit Analyst
- Commercial Credit Manager
- Credit Administrator
- Credit Analyst
- Credit and Collections Analyst
- Credit Assessment Analyst
- Credit Assistant Manager
- Credit Coordinator
- Credit Manager
- Credit Negotiator
- Credit Officer
- Credit Portfolio Manager
- Credit Representative
- Credit Risk Analyst
- Credit Risk Manager
What You'll Do
In this role, your typical responsibilities include:
- 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.
- 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.
- Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
- Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
- Consult with customers to resolve complaints and verify financial and credit transactions.
Knowledge You'll Use
You'll need solid knowledge in these areas:
- Economics and Accounting
- Mathematics
- English Language
Essential Skills
Success in this career requires strong skills in:
- Critical Thinking
- Reading Comprehension
- Speaking
- Active Learning
Key Abilities
This career requires key abilities in:
- Oral Expression
- Oral Comprehension
- Inductive Reasoning
- Written Comprehension
- Number Facility
- Problem Sensitivity
- Deductive Reasoning
- Mathematical Reasoning
- Near Vision
- Information Ordering
Work Style
People who excel in this career typically demonstrate:
- Attention to Detail
- Dependability
- Integrity
- Cautiousness
- Intellectual Curiosity
What Matters in This Career
This career tends to satisfy these work values:
- Relationships
- Achievement
- Recognition
- Support
- Independence
Education & Preparation
Typical Education: Bachelor's Degree
Related Work Experience Needed: Over 1 year, up to and including 2 years
On-the-Job Training: Over 1 month, up to and including 3 months
Education Details: Most of these occupations require a four-year bachelor's degree, but some do not.
Experience Required: 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.
Technology You'll Use
Popular Technologies & Software
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft SQL Server
- Microsoft Visual Basic
- Microsoft Visual Basic for Applications VBA
- Microsoft Word
- Python
- SAP software
Tools & Equipment
- 10-key calculators
- Desktop computers
- Notebook computers
- Personal computers
- Scanners
Work Environment
- Indoors, Environmentally Controlled
- Spend Time Sitting
- Telephone Conversations
- Face-to-Face Discussions with Individuals and Within Teams
Salary & Job Market
| Salary Percentile | Annual Wage |
|---|---|
| Entry-Level (10th percentile) | $52,930 |
| Median | $80,970 |
| Top Earners (90th percentile) | $168,840 |
Workers Employed Nationally: 67,370
Related Careers
If you're interested in this career, you might also consider:
Credit Authorizers, Checkers, and Clerks
Education: Not specified
Median Salary: $49,130
Loan Officers
Education: Bachelor's Degree
Median Salary: $74,180
Loan Interviewers and Clerks
Education: High School Diploma - or the equivalent (for example, GED)
Median Salary: $48,950
Credit Counselors
Education: Bachelor's Degree
Median Salary: $50,480
Financial and Investment Analysts
Education: Not specified
Median Salary: $101,350
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Occupational data sourced from the O*NET OnLine database, developed by the U.S. Department of Labor, Employment and Training Administration. Wage data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), 2024.