how to become a credit analyst
Credit Analyst
Analyse financial data and assess the suitability of credit and loan applications
Job growth
0.8%*
Projected job growth in 5 years
What's it like to be a Credit Analyst?
Credit Analysts process and evaluate applications for credit or loans. They analyse financial information about applicants in order to set the limits and repayment conditions of a loan or credit application. Working as a Credit Analyst requires an ability to perform financial analysis, clear communication skills and proficiency working with spreadsheets and other computer software. They work for commercial and investment banks, credit card companies, investment companies and other companies where credit or loans are offered to customers.
Tasks and duties
- Analysing credit data through checks of references, credit ratings and scores, pay slips and application forms.
- Performing risk assessments and recommending limits and conditions of loans.
- Reviewing credit and loan limits in line with company policies and account activity.
- Recommending for approval and authorising the approval of loans and credit applications.
- Contacting third party financial institutions to obtain customer information.
- Maintaining records of payments and requests for payment of overdue accounts.
- Preparing reports and statements on loans and accounts with outstanding amounts.
- Actioning requests for credit assessments.
What can I earn as a Credit Analyst?
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Latest Credit Analyst jobs on SEEK
Source: Full time annual package based on job ad data.
How to become a Credit Analyst
While there are no formal education requirements to become a Credit Analyst, a qualification in finance, accounting or other related field may be expected by some employers.
- Complete a qualification such as a Bachelor of Finance. The Bachelor of Finance is a three-year course of full-time study. Prerequisites include completion of Australian high school Year 12 (or equivalent) and assumed knowledge in English, mathematics and economics.
- Consider completing postgraduate study such as the Master of Finance. The Master of Finance is an 18-month course of full-time study.
- Consider completing the Chartered Financial Analyst (CFA) program to further enhance your career options. This is a course of self-guided study that provides an internationally recognised designation upon completion.
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Skills and experience employers are looking for
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Credit Assessment
Credit Analysis
Asset Finance
Financial Analysis
Underwriting
Commercial Lending
Financial Statements
Credit Risk
Communication Skills
Commercial Acumen
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Is Credit Analyst the right role for me?
Job market trends for Credit Analysts
Source: SEEK job ads and SEEK Role Reviews
Latest Credit Analyst reviews
Latest reviews from 4 Credit Analysts surveyed on SEEK
Credit is an all season job whether recession or boom.
Reviewer's Qualification
Bachelor of Commerce
Organisation size
Large (200+ employees)
Specialisation
Trade credit
The good things
It's a great role for someone with open thinking, understanding of risk and analytical skills. You get to learn so much about an industry and not just one but many. You help your business achieve its ...
The challenges
It's best to know that business' profitability and cash flow may be impacted by your decisions so you should always made informed decisions.
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Credit analyst is a crucial job for any banker to build fundamental skills
Reviewer's Qualification
Bachelor of Applied Finance
Organisation size
Large (200+ employees)
Specialisation
Restructuring
The good things
- Being involved in high profile and meaningful financial transactions. - Having exposure to a variety of customers from different industries, different sizes and complexity.
The challenges
There are some difficult conversations that you need to have as a credit analyst, especially in restructuring. As a credit analyst you are sometimes in between a relationship banker who is incentivise...
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Source: SEEK Role Reviews
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Source: SEEK job ads and SEEK Profile data
Read more from SEEK
how to become a credit analyst
Source: https://www.seek.com.au/career-advice/role/credit-analyst
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