13-2041.00 - Credit Analysts

Updated 2009

Summary Report for:
13-2041.00 - Credit Analysts

Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.

Sample of reported job titles: Credit Analyst, Analyst, Credit Manager, Underwriter, Credit Administrator, Credit and Collections Analyst, Credit Representative, Credit Risk Analyst, Risk Analyst

View report: Summary Details Custom

Tasks

Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
Generate financial ratios, using computer programs, to evaluate customers' financial status.
Consult with customers to resolve complaints and verify financial and credit transactions.
Prepare reports that include the degree of risk involved in extending credit or lending money.
Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
Review individual or commercial customer files to identify and select delinquent accounts for collection.
Confer with credit association and other business representatives to exchange credit information.
Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.
Evaluate customer records and recommend payment plans based on earnings, savings data, payment history, and purchase activity.

Tools & Technology

Tools used in this occupation:

Calculators or accessories — 10-key calculators

Desktop computers

Notebook computers

Personal computers

Scanners

Technology used in this occupation:

Content workflow software — Equifax Application Engine; Experian Transact SM

Document management software — Credit adjudication and lending management system CALMS software

Financial analysis software — CGI-AMS CACS Enterprise; eCredit Enterprise; Experian Credinomics; Moody's KMV Risk Advisor

Information retrieval or search software — CGI-AMS BureauLink Enterprise

Office suite software — Experian Strategy Management

Knowledge

Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

Skills

Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking — Talking to others to convey information effectively.

Reading Comprehension — Understanding written sentences and paragraphs in work related documents.

Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Instructing — Teaching others how to do something.

Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.

Learning Strategies — Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.

Writing — Communicating effectively in writing as appropriate for the needs of the audience.

Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.

Abilities

Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.

Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.

Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).

Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.

Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.

Oral Expression — The ability to communicate information and ideas in speaking so others will understand.

Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).

Near Vision — The ability to see details at close range (within a few feet of the observer).

Written Comprehension — The ability to read and understand information and ideas presented in writing.

Work Activities

Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.

Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.

Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.

Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.

Work Context

Electronic Mail — How often do you use electronic mail in this job?

Telephone — How often do you have telephone conversations in this job?

Spend Time Sitting — How much does this job require sitting?

Contact With Others — How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?

Indoors, Environmentally Controlled — How often does this job require working indoors in environmentally controlled conditions?

Face-to-Face Discussions — How often do you have to have face-to-face discussions with individuals or teams in this job?

Letters and Memos — How often does the job require written letters and memos?

Frequency of Decision Making — How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?

Importance of Being Exact or Accurate — How important is being very exact or highly accurate in performing this job?

Time Pressure — How often does this job require the worker to meet strict deadlines?

Job Zone

Title	Job Zone Four: Considerable Preparation Needed
Education	Most of these occupations require a four-year bachelor's degree, but some do not.
Related Experience	A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training	Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples	Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents.
SVP Range	(7.0 to < 8.0)

Interests

Interest code: CE

Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

Work Styles

Integrity — Job requires being honest and ethical.

Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.

Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.

Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.

Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.

Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.

Initiative — Job requires a willingness to take on responsibilities and challenges.

Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.

Persistence — Job requires persistence in the face of obstacles.

Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.

Work Values

Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.

Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

Independence — Occupations that satisfy this work value allow employs to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.

Related Occupations

13-1023.00	Purchasing Agents, Except Wholesale, Retail, and Farm Products
13-1051.00	Cost Estimators
13-2011.01	Accountants
13-2021.01	Assessors
13-2051.00	Financial Analysts
13-2052.00	Personal Financial Advisors
13-2053.00	Insurance Underwriters
13-2082.00	Tax Preparers

Wages & Employment Trends

National

Median wages (2008)	$26.56 hourly, $55,250 annual
Employment (2008)	73,000 employees
Projected growth (2008-2018)	Faster than average (14% to 19%)
Projected need (2008-2018)	24,300 additional employees

State & National

Source: Bureau of Labor Statistics 2008 wage data and 2008-2018 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2008-2018). "Projected need" represents job openings due to growth and net replacement.

Summary Report for: 13-2041.00 - Credit Analysts