Credit Analyst
On this page
- What's it like to be a Credit Analyst?
- How to become a Credit Analyst
- Latest Credit Analyst jobs
- Top skills and experience for Credit Analysts
What's it like to be a Credit Analyst?
Credit Analysts gather data from loan applicants to evaluate if they are eligible for loans. They review an applicant’s credit history to determine if they are able to pay off loans and set loan values appropriate to their profile. Decision-making, analytical, and quantitative skills are key for the role. Credit Analysts work in banks, investment and insurance companies, and credit agencies.
Tasks and duties
- Approving and denying loan applications.
- Analysing risk using applicant and current market data.
- Aligning loans with regulatory standards.
- Evaluating and updating the activity and limits of credit lines.
- Detecting and investigating credit fraud.
- Presenting credit analysis reports.
- Writing credit and financial documents.
Credit Analysts must have strong research skills, knowledge of current market trends, and the ability to maintain relationships with existing clients. Credit Analysts may be Accountants with a background in financial analysis, and may branch off to specialise in an industry segment such as travel, big corporations, or personal loans. Successful Credit Analysts may be promoted to managerial positions.
How to become a Credit Analyst
To work as a Credit Analyst a bachelor degree in accounting, finance, business administration or a related field is required.
Graduate with a bachelor degree in accounting, finance, business administration, or another related field.
Complete an internship in the finance department of a recognised company.
Take the foundation programme administered by the Accounting and Corporate Regulatory Association (ACRA).
Get an entry-level job such as Assistant Credit Analyst at an ACRA Accredited Training Organisation (ATO).
Gain 3 years of professional experience while completing the ACRA program modules.
Register as a Chartered Accountant.
Pursue promotion to higher roles such as Portfolio Manager or Relationship Manager.
