Trade guide
Credit analyst
A credit analyst works in the field of finance. They are responsible for analysing clients’ credit files and determining whether they are suitable for a loan. Credit analysts must have a sound knowledge of finance and accounting. They must also be able to communicate effectively with clients and provide them with relevant advice.
The business
What is a credit analyst?
Its role
A credit analyst examines the credit application files of a company’s customers. He or she then provides advice on how the company should treat these customers. The credit analyst assesses the risks associated with granting credit to a customer.
Its field of action
In this way, they study how to manage risks. Credit analysts generally work in the credit departments of a financial company or bank. They may be responsible for credit management and client selection. They are financial professionals.
The functions
What does a credit analyst do?
Credit analysts are responsible for assessing the credit risk of companies and issuing credit ratings. The credit analyst will have to analyse the company’s finances, industry trends and balance sheets to determine the company’s solvency.
The credit analyst’s tasks are as follows:
assessing corporate credit risk
assess the risks associated with a given transaction or account
provide advice on risk management for a given account or transaction
recommend appropriate action to mitigate risks
analyse the company’s finances and the market situation
provide advice on how to manage transactions with a given company or customer
assess accounts that do not meet performance targets
explain what constitutes an acceptable level of credit
issue reports
identify the areas of greatest risk for a given account or transaction
analyse accounts with a high risk of default
Credit analysts are responsible for assessing the creditworthiness of a potential borrower. They analyse the credit history and financial statements of the potential borrower, and then decide whether or not to grant credit.
In short, the role of the credit analyst is to ensure that the company makes sound decisions about the people to whom it lends money. They must also ensure that these loans are repaid on time.
Qualifications
Qualities and skills needed to be a good credit analyst
Credit analysts are responsible for assessing the creditworthiness of potential borrowers. They study and analyse financial records, public records and other information about borrowers to determine whether or not they qualify for credit. A credit analyst may work for a bank or another type of credit institution. As such, a credit analyst must have strong analytical skills and the ability to understand complex financial data. They must be familiar with different analytical approaches.
They must also be able to communicate with people at all levels of an organisation. They must be able to work as part of a team. Credit analysts must know how to use IT tools and credit evaluation instruments.
Credit analysts must be serious and able to work under pressure. They must also be autonomous in their work. They must know how to manage the problems and risks that arise in their job.
The benefits
What are the advantages of being a credit analyst?
Being a credit analyst means working with balance sheets and studying the financial needs of companies and individuals. You’ll be in contact with a wide range of people. You can build up a solid network that can help you in your career prospects.
The job of credit analyst is also a stable one, offering job security. The remuneration, with its various bonuses, is attractive. It’s also a job that allows you to develop and acquire new skills, such as commercial skills , so that you can move up and change jobs.
Remuneration
Credit analyst: salary and career development
A credit analyst’s salary depends on his or her level of qualification and the sector in which he or she works. A junior credit analyst earns around €29,000 a year; a senior analyst can earn around €40,000 a year. The salary of a senior analyst working for a private bank is often higher than that of a senior analyst working for a central bank.
Up to
40 000€
Salary per year
Training courses
How can I become a credit analyst?
Our training courses
If you want to become a credit analyst, you need a background in accounting or finance and experience in using spreadsheets and analysing figures. To enter the profession, however, you need at least a 5-year higher education qualification in one of the following fields:
- a business school diploma specialising in banking and finance;
- diploma from the institute of political studies, specialising in economics and finance;
- master pro MBFA – money banking finance insurance ;
- master CCA – accounting control audit.
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