Credit Analyst: What is the cost of hiring?

Why hire a Credit Analyst?

Selecting the right candidate for the role of a Credit Analyst streamlines the credit sanction process to the right set of customers. Their primary responsibility includes careful evaluation of the financial statements of the client and preparing risk profile.

• Determining the degree of risk in the credit by evaluating client’s data and financial statement
• Analyzing the client’s’ previous credit records, study the repayment pattern and suggest a suitable payment plan
• Enter the credit information of the customer, timely update based on a payment schedule and retrieve details based on specific requests

Skills to look for in a great Credit Analyst

A skilled Credit Analyst maintains the overall financial health of a company by ensuring good loan to the credit-worthy customers. To find a competent and experienced Credit Analysts the below qualifications and skill set are crucial for success.

• Bachelor’s degree in Accounting and finance
• Over 4 years of experience in the role of Credit or Financial Analyst
• Strong understanding of Microsoft Office, Preferably MS – Excel for data analysis and interpretation
• Excellent research skills backed by knowledge of strong data interpretation methodology
• Proven problem-solving skill
• Maintaining privacy while dealing with in-depth credit information of the customers

Writing a Credit Analyst job description

A clearly outlined job description is essential in finding an exceptional Credit Analyst candidate. The job description should consist of detailed job duties with defined roles and responsibilities with necessary skill set for optimum performance.

Consider including keywords that job seekers are using to search for Credit Analyst jobs, such as:

• Financial Analyst
• Senior Credit Analyst
• Commercial Credit Analyst

Interviewing Credit Analyst candidates

The credibility assessment of Credit Analyst candidates should be done by taking them through multiple situational and analytical round of interviews blended with questions on knowledge and qualification.

• Evaluating methods clients’ credit history and financial statements
• Effective utilization of MS- Office suite to analyze loan related data of multiple clients
• How have you prepared financial ratios using different computer programs?

See our list of interview questions for more examples.