Credit Analyst Job Description: Top Duties and Qualifications

A Credit Analyst, or Commercial Credit Analyst, is responsible for evaluating the financial health of a loan applicant to determine whether to approve their application. Their duties include working with Junior Credit Analysts to investigate a loan applicant’s finances, helping business owners determine the financial risks associated with a potential client and adhering to lending protocols to confirm or deny applicants their loan.

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Credit Analyst duties and responsibilities

The important duties and responsibilities for the job of Credit Analyst include:

  • Enter, update and retrieve information for credit applications.
  • Determine the creditworthiness of applicants.
  • Designate the degree of risk involved in extending credit by performing a cash flow analysis of each business.
  • Ensure that all approved applications comply with bank criteria.
  • Review deals involving junior Credit Analysts and assist them as needed.
  • Assist with bank and client audits.

Credit Analyst Job Description Examples:

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Credit Analyst

Whether you have earned your Bachelor’s Degree in a Business/Finance field or will be finishing school in early 2020, a rewarding career opportunity exists for you with WBD! We are seeking a full-time entry level Credit Analyst to start soon in our Oshkosh office. Primary responsibilities include: evaluate and analyze business financial information including spreading business financial statements; prepare detailed descriptions of company background, management and collateral for financial and credit review; obtain and evaluate borrower’s credit worthiness; complete government forms and compile required information and documents for preparation of loan application packages.

A successful candidate will have strong analytical and communication skills and be a team player. Prior experience is not required, but applicants with 1-2 years’ credit analyst experience are welcome, considering applicable experience for the position. WBD offers attractive professional development paths into mid and upper level Credit Analyst or Loan Officer positions for motivated individuals.

WBD is one of the nation’s most active Certified Development Companies, a not-for-profit organization assisting businesses in gaining access to capital in order to grow, create jobs and build their communities. Since 1981, WBD has provided nearly $3 Billion in financing to thousands of businesses in Wisconsin. WBD fosters a “Create” environment: one that promotes Collaboration, Respect, Excellence, Accountability, Teamwork, and the highest Ethical standards.

Please submit cover letter with resume.

Job Type: Full-time

Salary: $20.00 to $22.00 /hour

Experience:

  • Credit Analysis: 1 year (Preferred)

    Education:

  • Bachelor's (Required)

    Work Location:

  • One location

    Benefits:

  • Health insurance

  • Dental insurance

  • Vision insurance

  • Paid time off

  • Other

    This Company Describes Its Culture as:

  • Detail-oriented -- quality and precision-focused

  • People-oriented -- supportive and fairness-focused

  • Team-oriented -- cooperative and collaborative

    Schedule:

  • Monday to Friday

  • No [website]
  • ×

    Credit Analyst

    WHO WE ARE

    Lennox International

  • (LII)
  • is a leading global provider of innovative climate control solutions for heating, ventilation, air conditioning, and refrigeration (Hvacr) markets.

    Beginning over a century ago, Lennox International has built a strong heritage of Innovation and Responsibility. Our position as an innovation leader continually inspires us to promote more efficient energy use and a healthier environment through our product operations. Our engaged and diverse workforce is committed to providing climate control solutions that provide the most value and comfort for our customers.

    We are proud to have instilled a shared sense of responsibility and commitment among our approximately 10,000 employees located throughout North America, South America, Europe, Asia, and Australia.

    What YOU’LL BE Doing

    As a Credit Collections Analyst, you will be responsible for collections of outstanding accounts receivable from the existing customer base, resolving customer billing problems and reducing accounts receivable delinquency. This position is high volume, fast paced, large portfolio and will report to the Residential Credit Manager in Richardson TX

    You will be trusted to:

  • Contact customer for payments both verbally and via email.

  • Provide timely follow-up on payment arrangements.

  • Building internal and external customer relationships in a professional manner while keeping and improving customer relations.

  • Reconcile and resolve billing issues that arise, applying good customer service in a timely manner

  • Review and monitor assigned accounts and all applicable collection reports.

  • Review and release orders throughout the day

  • Review and maintain customer credit limits

  • Onboard new customers (pursue security agreements with distributors, review financial statements, and maintain credit file within SAP software system)

  • Review sales deals and provide recommendations to management on risk assessments

  • Some travel involved

    What WE Offer

    At Lennox, we realize that our greatest assets are our employees. This is why we are committed to providing limitless opportunities for growth and development of all our employees, largely promoting from within the organization.

    Benefits:

  • Competitive base salary

  • Medical and Dental benefits

  • 401k with company match

  • Stock Purchase Program

  • Community involvement opportunities

  • Much, much more

    What WE ARE Looking FOR

  • Requires a bachelor's degree or an equivalent combination of education and experience.

  • Proficient in Microsoft Office and other productivity software systems, (Get Paid and SAP are a plus).

  • Strong analytical, numeracy and research Excellent communication Solid negotiation and leadership Excellent customer relations Type: Full-time
  • ×

    Credit Analyst

    Responsibilities:

  • Effectively utilize lending guidelines to assess loan risk and acceptability

  • Analyze and evaluate income, financial standing and credit rating of NewDay USA’s potential customers

  • Review findings from the Automated Underwriting System and provide validation

  • Ensure accuracy of mortgage loan disclosures and documents

  • Solve and communicate critical operational and financial matters with members of the Processing and

  • Calculate the Net Tangible Benefit in a cost reduction refinance

    About You:

  • You have a Bachelor’s Degree from a top tier University with a major in Business, Finance, Accounting or

  • You have a 3.0 GPA or higher and have demonstrated academic success and have a 4 year college degree

  • You are a self-starter and results oriented

  • You have outstanding organizational and time management skills and the ability to complete multiple

    About NewDay USA:

    NewDay USA is looking for extraordinary team members to help change the lives of America’s veterans and

    to be a part of one of the fastest growing companies in Maryland. Our team is comprised of some of the

    most diverse, talented and energetic people anywhere in the financial services industry. They are also

    driven to excel by the exceptional opportunities for growth and advancement that are unique to NewDay

    USA. Our company was voted a “Top Workplace for Career Training” by The Baltimore Sun, a “Top Entry

    Level Employer” by CollegeGrad.com, and “Best Places to Work” by the Baltimore Business Journal.

    Join our exceptional team. Have lots of fun doing important work.

    Please email your resume to (Rsteinweg@newdayusa. com) & I will have a recruiter reach out and set up an interview.

    Job Type: Full-time

    Salary: $60,000.00 /year

    Additional Compensation:

  • Commission

  • Bonuses

    Work Location:

  • One location

    Benefits:

  • Health Dental Vision Retirement plan

  • Paid time off

  • Flexible Monday to Friday
  • What does a Credit Analyst do?

    Credit Analysts typically work for insurance companies, banks, credit agencies or unions and investment companies to ensure the financial stability of loan applicants. They work closely with other credit professionals to weight the risks of potential lenders and investigate financial documents to determine past debts or missed payments. Their job is to use review company lending policies to distinguish qualified applicants from unqualified applicants. They may also be responsible for interacting with current lenders to help them apply for additional loans and follow up with lenders about missed payments.

    Credit Analyst skills and qualifications

    A successful Credit Analyst candidate will have the following skills and qualifications to conduct daily activities for this role:

    • Research skills
    • Strong problem-solving, mathematical and analytical skills
    • Excellent written and verbal communication skills
    • Ability to maintain confidentiality
    • Proficiency with computers and computer software, like programs that aid in statistical and financial calculations
    • Proficiency with financial reports and statements

    Credit Analyst salary expectations

    The average salary for a Credit Analyst is $55,556 per year. Exact salary may vary depending on the applicant’s level of education, experience and geographical location. The typical tenure for a Credit Analyst is one to three years.

    Credit Analyst education and training requirements

    The education and training required of a Credit Analyst includes at minimum a bachelor’s degree in finance, accounting or a related field. A related field could include bookkeeping or business. A Master of Business Administration degree is a plus. Applicants with a Certified Public Accountant, Certified Financial Planner, Chartered Financial Analyst, Certified Management Accountant, Certified Banking and Credit Analyst or similar certification are especially encouraged to apply.

    Credit Analyst experience requirements

    Companies hiring Credit Analysts often look for business-related experience including work in payroll departments, accounts payable and accounts receivable as a suitable background. The ideal candidate will bring at least 4 years of experience as a Credit Analyst or Financial Analyst and possess a strong knowledge of common accounting and office suite software. Experience in lending is a must, and experience at a supervisory level is ideal. 

    Job description samples for similar positions

    If this Credit Analyst job description template isn’t what you’re looking for, see our job descriptions for related positions:

    Frequently asked questions about Credit Analysts

     

    What is the difference between a Credit Analyst and an Underwriter?

    Although Credit Analysts and Underwriters have similar job responsibilities, they differ in their areas of focus and levels of seniority. For example, Underwriters review loan applications to determine the type of loan they can offer an applicant based on their current financial status. Once they determine the applicant’s eligibility and what loans they qualify for, they send their proposals to the Credit Analyst who conducts their own investigation. 

    Based on information from the Underwriter and their findings, they either approve or deny the application. Therefore, Credit Analysts typically hold more seniority as they make the final decision about loan applications.

     

    What are the daily duties of a Credit Analyst?

    On a typical day, a Credit Analyst receives one or more credit applications to review. They start by completing any work leftover from the previous business day. Throughout the day, they review financial statements, contact banks to obtain additional financial documents and state their decision as to whether or not they believe an applicant’s credibility. 

    Credit Analysts also respond to emails or phone calls from loan applicants and approved clients to answer their questions and update them on the status of their application. They use downtime to review their companies lending policies and learn about changes to the lending process.

     

    What qualities make a good Credit Analyst?

    A good Credit Analyst is someone who has an investigative mindset. This quality motivates them to review loan applications and gather financial evidence to determine their eligibility. They also need to have a detailed knowledge of accounting software to review financial documents. Further, a good Credit Analyst should demonstrate excellent customer service to help existing clients understand the terms of their loan agreement. This quality also allows them to help potential clients compile the necessary documents needed to submit their loan application for review. 

    A good Credit Analyst also stands by their company’s lending policies and doesn’t make exceptions for unqualified applicants.

     

    Who does a Credit Analyst report to?

    A Credit Analyst typically reports to a Credit Analyst Manager or a Senior Credit Analyst. These professionals act as a point of communication for Credit Analysts and junior staff with questions regarding lending policies and complex loan applicant cases.

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