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Credit Analyst • Job Description, Salary & Benefits

by All about Careers
17 November, 2020 - Updated on 25 August, 2021
in Job Profiles

Credit analysis is a specialist area of financial risk analysis. Credit analysts (a.k.a. credit risk analysts) are tasked with assessing and evaluating the risk of companies making financial loans proposals to retail and commercial customers.

Sometimes these guys might be responsible for providing expert guidance on credit risks linked with large-scale corporate lending schemes, which involve millions and millions of pounds.

If you enter this profession, you’ll be reviewing and analysing financial statements, annual reports, management accounts, profit and loss statements, cash and asset inventories, financial data updates from Reuters and other relevant information made available by market research agencies.

Furthermore, you’ll be developing mathematical and statistical models for forecasting credit risks in a variety of situations. You’ll also be taking various other things into account, such as anticipated environmental changes, legislation, market movements, annual performance results of blue-chip and benchmark companies, and compliance with statutory and regulatory requirements.

Credit analysts are usually employed by banks (commercial and investment), private equity firms, investment funds, credit rating agencies, non-banking financial institutions, stockbrokers and financial consulting firms.

You can find current vacancies on our Jobs page in the Banking, Finance and Accountancy sector.

Contents

Toggle
  • Salary & benefits
  • Working hours
  • Entry
  • Training & progression

Salary & benefits

Credit analysts in the early stages of their careers can earn salaries ranging from £20,000 to £50,000 per annum.

As you gain more experience, your annual salary could rise to between £50,000 and £100,000. Some senior financial risk analysts can even earn up to £250,000 a year.

Most financial services companies also pay attractive bonuses, which are based on performance and achievement of targeted objectives.

Check ➤  Location Manager • Job Description, Salary & Benefits

Working hours

The average working day for a financial risk analyst ranges between eight and 14 hours. You may also be required to work extra hours during critical situations or when deadlines are looming. Pressure levels are intense, especially in corporate finance and investment banking.

Credit analysts are mainly office-based, but may occasionally travel to inspect companies that are being considered for investment or are extending their loan facility.

Entry

To enter this profession, you’ll need a solid undergraduate degree (2:1 minimum) in any discipline, as well as strong grades at GCSE and A-level.

Many employers prefer candidates with degrees in numerate and quantitative subjects, such as finance, business, economics, statistics, maths or accountancy.

Knowledge of a second language and a background of relevant experience through vacation or industrial training placements are also recommended. In fact, many employers conduct internship programmes with the objective of identifying potential talented candidates.

Training & progression

The majority of your training will be done whilst on the job, but may also include formal training sessions across multiple functions and departments. Some employers may also sponsor you to take industry examinations to obtain professional qualifications.

Career progression is driven by performance, experience and acquisition of professional qualifications. Employees with consistently high levels of performance may be eligible for promotion every two to three years.

When you reach the top of the career ladder, you will be working at senior manager or managing director level. Credit analysts can also move laterally into front-end roles, such as traders or investment managers.

Check ➤  Geographical Information Systems Officer • Job Description, Salary & Benefits
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      • Maurices Credit Card Payment
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      • How to Pay my TJ Maxx Credit Card?
      • How To Apply For Dicks Sporting Goods Credit Card?
      • How Suddenlink bill can be paid?
      • How to make Furniture Row credit card payment?
      • Bed Bath & Beyond’s Credit Card Payment Process
    • Netspend Atm
    • Trial deposit Amazon Creditbuilder
    • Transfer Money From EDD Card to a Bank Account
    • Credit online shopping
    • Transfer funds with Routing and Account Number
  • Student loans
    • Increase Total Loan Balance
    • Bad Credit Loans Urban BCL
    • Reduce Total Loan Cost
    • Canceling Student Loan Debt
    • Unsubsidized Student Loan
    • Borrow money from a millionaire
    • H&R block Emerald Advance
    • Chevy offer 0 Financing
    • Days Mortgage Approval
    • Mortgage on 1 million
  • Insurance
    • Subscriber Id Insurance Card
    • United American Insurance Provider Portal
    • Unregistered Vehicle with Insurance
    • Home Insurance Claim Adjuster Secret Tactics
    • Agi renters condo insurance
    • Walgreens accepted insurance
    • Dentist that take caresource
    • Redpoint county mutual insurance company
    • Insurance walgreens accepts
    • Cricket wireless insurance claim
  • Social Security
    • Stop paying child support
    • Home depot health check
    • Beat contempt of court for child support
    • Medical Schools that don’t require mcat
    • Social security Recipients Stimulus check
    • Find 401k Social Security Number free
    • Cash Advance Unemployment Benefits
    • Laminate Social Security Card
  • Location
    • BMO Harris
    • Xfinity
    • Spectrum
    • Ice Skating
    • Tattoo Shops
    • Verizon Store
    • UPS store

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