Overview
Credit analysis is a speciality of financial risk analysis. It involves analyzing the creditworthiness of the individuals or companies that seek out credits or loans. The credit analyst, also known as a credit risk analyst, assesses the financial and credit history of the potential follower and their financial and economic conditions to determine whether they would be able to repay. Then, the credit analyst concludes their investigation to approve or disapprove the credit, to increase or decrease them.
Typical day at work
Abilities and Aptitude needed
The job profile and responsibilities involved a considerable amount of money, and any information being overlooked would prove very costly. Thus attention to detail is the primary soft skill required by the employee. They must also have adequate knowledge regarding finance, statistics and good IT skills to analyze the situation and draw concrete conclusions from them. The results of the observations and evaluations must be communicated to the clients as well as the employee's company, which would require good written and oral communication skills. The research results are often presented before a panel or submitted to them in the form of a written document. The employee must be able to learn every new day. To speak confidently to a client, the employee must be knowledgeable about the industry of the client and their strengths and challenges faced by them. They must possess the ability to work on multiple projects simultaneously and prioritize them appropriately.
Pathways
Entrance Exam
Courses
Best Colleges
Industries
internship
Career outlook
The minimum qualification required for an entry-level job is a bachelor's degree in finance, accounting, business administration or economics. Banks, credit card issuing institutions, credit rating agencies, and asset management companies employ credit analysts. They could also earn a job in government loan divisions. The average salary of a credit analyst is around 5 lakh per annum.