Credit Analyst Jobs
Role Overview
Credit analysts (or credit risk analysts) undertake risk assessment analysis of various types of lending proposals from the straightforward to the very complex, which can be for amounts in excess of £50 million.
Credit analysis offers a variety of career opportunities within the increasingly diverse financial services sector. Credit analysts are employed within a variety of financial institutions ranging from banks (commercial or investment banking) to credit rating agencies and investment companies.
Qualifications, Skills and Experience The role demands a strong combination of interpersonal, analytical and decision-making skills. Potential candidates will need to show evidence of the following:
- a reasonable level of numeracy;
- good IT literacy as information technology now plays a part in every aspect of banking;
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excellent interpersonal, team-working and communication skills;
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a high standard of personal integrity and decisiveness, in addition to problem-solving and influencing skills.
Whilst degrees that include quantitative elements or provide financial knowledge can be helpful, a strictly finance-based degree is not a requirement. The following subjects, however, may increase your chances:
- business/management;
- economics;
- mathematics;
- operational research;
- statistics.
A good honours degree plus one to two years' relevant professional experience is usually required. However, the opportunities for a varied career are immense and employers look for adaptable individuals with a wide range of transferable skills which, in some cases, are more important than degree subject.
Pre-entry experience in a related professional area, such as accounting, computing, law or banking, can be helpful. Alternatively, relevant internships or insight programmes undertaken during study, for example with investment banks, can boost applications. Relevant part-time or temporary work is also useful.
Career Progression Path
Generally, the role offers a wide variety of career development options for all entrants although progression will vary according to employer. For example, working as a credit analyst in a clearing bank (high street bank) is very much a step on a career path, with movement possible to and from business banking and corporate banking, and also to other banks, as well as to other companies in the financial services sector. With experience, some may move into working in consultancies.
Those who have moved into the role of credit analyst with professional qualifications, such as qualified accountants, will have a particularly wide range of possible options. Useful Credit Analyst Links The Association of Credit Professionals
Institute of Credit Management
British Bankers Association
Credit, Collections & Risk Magazine
Credit Today Magazine
