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Credit Analysts

It's a bright outlook for

This career will grow rapidly in the next few years.

Learn more about what they do.

Analyze 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 credit information for use in decisionmaking.

Related: Credit Authorizers, Checkers, & Clerks Credit Counselors Financial & Investment Analysts Loan Interviewers & Clerks Loan Officers

Industries: Finance & Insurance Management

Summary
Details

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

Management of Material Resources
- Managing equipment and materials.
Speaking
- Talking to others.
Social Perceptiveness
- Understanding people's reactions.
Instructing
- Teaching people how to do something.
Coordination
- Changing what is done based on other people's actions.
Active Learning
- Figuring out how to use new ideas or things.
Complex Problem Solving
- Noticing a problem and figuring out the best way to solve it.
Operations Analysis
- Figuring out what a product or service needs to be able to do.
Operations Monitoring
- Watching gauges, dials, or display screens to make sure a machine is working.
Management of Financial Resources
- Making spending decisions and keeping track of what is spent.
Repairing
- Repairing machines or systems using the right tools.
Time Management
- Managing your time and the time of other people.
Active Listening
- Listening to others, not interrupting, and asking good questions.
Equipment Selection
- Deciding what kind of tools and equipment are needed to do a job.
Critical Thinking
- Thinking about the pros and cons of different ways to solve a problem.
Mathematics
- Using math to solve problems.
Equipment Maintenance
- Planning and doing the basic maintenance on equipment.
Systems Analysis
- Figuring out how a system should work and how changes in the future will affect it.
Persuasion
- Talking people into changing their minds or their behavior.
Learning Strategies
- Using the best training or teaching strategies for learning new things.
Monitoring
- Keeping track of how well people and/or groups are doing in order to make improvements.
Technology Design
- Making equipment and technology useful for customers.
Troubleshooting
- Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
Quality Control Analysis
- Testing how well a product or service works.
Operation and Control
- Using equipment or systems.
Judgment and Decision Making
- Thinking about the pros and cons of different options and picking the best one.
Management of Personnel Resources
- Selecting and managing the best workers for a job.
Installation
- Installing equipment, machines, wiring, or computer programs.
Systems Evaluation
- Measuring how well a system is working and how to improve it.
Programming
- Writing computer programs.
Negotiation
- Bringing people together to solve differences.
Service Orientation
- Looking for ways to help people.
Reading Comprehension
- Reading work-related information.
Writing
- Writing things for co-workers or customers.
Science
- Using scientific rules and strategies to solve problems.

Fluency of Ideas
- Coming up with lots of ideas.
Category Flexibility
- Grouping things in different ways.
Number Facility
- Adding, subtracting, multiplying, or dividing.
Perceptual Speed
- Quickly comparing groups of letters, numbers, pictures, or other things.
Control Precision
- Quickly changing the controls of a machine, car, truck or boat.
Selective Attention
- Paying attention to something without being distracted.
Speed of Limb Movement
- Quickly moving your arms and legs.
Information Ordering
- Ordering or arranging things.
Dynamic Flexibility
- Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
Gross Body Coordination
- Moving your arms, legs, and mid-section together while your whole body is moving.
Visual Color Discrimination
- Noticing the difference between colors, including shades and brightness.
Depth Perception
- Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
Glare Sensitivity
- Seeing something even if there is a glare or very bright light.
Auditory Attention
- Paying attention to one sound while there are other distracting sounds.
Sound Localization
- Noticing the direction that a sound came from.
Oral Comprehension
- Listening and understanding what people say.
Written Comprehension
- Reading and understanding what is written.
Dynamic Strength
- Exercising for a long time without your muscles getting tired.
Explosive Strength
- Jumping, sprinting, or throwing something.
Static Strength
- Lifting, pushing, pulling, or carrying.
Inductive Reasoning
- Making general rules or coming up with answers from lots of detailed information.
Problem Sensitivity
- Noticing when problems happen.
Gross Body Equilibrium
- Keeping your balance or staying upright.
Night Vision
- Seeing at night or under low light.
Peripheral Vision
- Seeing something to your side when your are looking ahead.
Speech Recognition
- Recognizing spoken words.
Speech Clarity
- Speaking clearly.
Mathematical Reasoning
- Choosing the right type of math to solve a problem.
Memorization
- Remembering words, numbers, pictures, or steps.
Speed of Closure
- Quickly knowing what you are looking at.
Spatial Orientation
- Knowing where things are around you.
Wrist-Finger Speed
- Making fast, simple, repeated movements of your fingers, hands, and wrists.
Reaction Time
- Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
Time Sharing
- Doing two or more things at the same time.
Rate Control
- Changing when and how fast you move based on how something else is moving.
Response Orientation
- Quickly deciding if you should move your hand, foot, or other body part.
Manual Dexterity
- Holding or moving items with your hands.
Originality
- Creating new and original ideas.
Flexibility of Closure
- Seeing hidden patterns.
Trunk Strength
- Using your lower back and stomach.
Stamina
- Exercising for a long time without getting out of breath.
Extent Flexibility
- Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
Near Vision
- Seeing details up close.
Hearing Sensitivity
- Telling the difference between sounds.
Deductive Reasoning
- Using rules to solve problems.
Far Vision
- Seeing details that are far away.
Visualization
- Imagining how something will look after it is moved around or changed.
Multilimb Coordination
- Using your arms and/or legs together while sitting, standing, or lying down.
Finger Dexterity
- Putting together small parts with your fingers.
Arm-Hand Steadiness
- Keeping your arm or hand steady.
Written Expression
- Communicating by writing.
Oral Expression
- Communicating by speaking.

Physics
- Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.
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.
Administrative
- Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Chemistry
- Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
English Language
- Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Production and Processing
- Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
Mathematics
- Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Economics and Accounting
- Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Medicine and Dentistry
- Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
Public Safety and Security
- Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
Transportation
- Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
Sociology and Anthropology
- Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
Geography
- Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.
Communications and Media
- Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
Administration and Management
- Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Food Production
- Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
Philosophy and Theology
- Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.
Engineering and Technology
- Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
Biology
- Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
Design
- Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
Psychology
- Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
Therapy and Counseling
- Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.
Fine Arts
- Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
Education and Training
- Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
History and Archeology
- Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
Personnel and Human Resources
- Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
Mechanical
- Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
Building and Construction
- Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
Computers and Electronics
- Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Law and Government
- Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Foreign Language
- Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
Sales and Marketing
- Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
Telecommunications
- Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.

Education

Bachelor's degree

Work Experience

No work experience

Training

No on-the-job training

Education and Training Opportunities

Washington Annual Salary

85650/yr

Washington Hourly Wage

41.18/hr

Currently Employed

2,070

Yearly Projected Openings

150

Conventional: People interested in this work like activities that include data, detail, and regular routines. They do well at jobs that need:

Analytical Thinking
Attention to Detail
Integrity
Dependability
Initiative
Stress Tolerance

Desktop calculator
Desktop computers
Notebook computers
Personal computers
Scanners

Analytical or scientific software
Business intelligence and data analysis software
Content workflow software
Data base user interface and query software
Development environment software
Document management software
Electronic mail software
Enterprise resource planning ERP software
Financial analysis software
Information retrieval or search software
Object or component oriented development software
Office suite software
Presentation software
Spreadsheet software
Word processing software

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