Credit analyst

A credit analyst is a person employed by an organization to analyze the credit worthiness of customers and potential customers, and to assist in the ongoing management and modeling of credit risk. see Financial analyst #Corporate and other for further discussion

Job responsibilities

Job responsibilities may include the following:

  • Reviewing credit applications
  • Projecting sales
  • Evaluating credit risk
  • Analyzing financial data, statements and trends
  • Setting new customer credit limits
  • Recommending credit limits based on company credit policies
  • Performing credit reviews of existing customers
  • Maintaining customer files with financial statements and bank reference information
  • Resolving credit issues
  • Monitoring risk trends on behalf of management and sales personnel[1]

Education

Credit analysts often hold a bachelor's degree in finance, accounting, business administration or economics. (See Outline of finance #Education, Business education #Undergraduate education, Financial analyst #Qualification.)

Some companies may require a Credit Business Associate certification from the National Association of Credit Management (NACM).[2]

Employment

In May 2015, the U.S. Bureau of Labor Statistics reported 70,840 people employed as credit analysts. The salary for this position ranged from $40,250 to $134,080 with a mean average wage of $79,720.[3]

Professional Organizations

Credit analysts in the United States can obtain memberships, continuing education and certification through NACM. Certification levels include Credit Business Associate, Certified Credit and Risk Analyst, Credit Business Fellow, Certified Credit Executive, Certified International Credit Professional and International Certified Credit Executive.[4]

See also

References
  1. "Careers in Credit - NACM North Central". nacmnc.org. Retrieved 2017-11-28.
  2. "How Do I Become a Credit Analyst?". Retrieved 2016-07-07.
  3. "Credit Analysts". www.bls.gov. Retrieved 2016-07-07.
  4. NACM. "The National Association of Credit Management: Certification Programs". nacm.org. Retrieved 2016-07-07.
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