Credit analyst

Credit analysts, also known as credit risk analysts, examine the financial history of applicants in order to determine creditworthiness and the advisability of granting credit. Their job is to provide a baseline assessment on a customer’s financial condition and authorise or decline customer credit line thus minimising bad debt risk.Working with statistical information and government legislation, they analyse market trends and make recommendations to their clients as to how to reduce and control risk.

Work activities

• Carrying out credit checks on corporate and personal loans.
• Assessing the credit risk and viability of potential and existing clients and establishing their current credit limit.
• Providing financial guidance to control credit use while minimising dispute and upholding effective payment.
• Identifying and mitigating against risk issues.
• working with a production and collections unit and negotiating disputes to resolve and document the root cause.
• Working in a team of goal driven personnel to contribute to the success of the credit department.

Work conditions

Travel: not a regular feature of the job for those working in-house.

Working hours: mainly office hours Monday–Friday, with some additional hours sometimes necessary.

Location: mainly in larger towns or cities throughout the country.

Opportunities for self-employment: possible to move into consultancy.

Typical employers

• Banks (commercial or investment banking)
• Credit rating agencies
• Investment companies.

Career development

The role offers a wide variety of career development options for all entrants although progression will vary according to employer.

Salaries

Republic of Ireland: Credit risk analyst (quantitative) with 3–5 years’ experience can expect to earn between €40,000 and €55,000. Those with 5–6 years’ experience can expect to earn up to €65,000.

Entry requirements

Open to graduates of all disciplines though preference can be given to those with degree subjects that have special relevance.

Other relevant degree subjects

• Accounting
• Business
• Economics
• Finance
• Financial services
• Mathematics
• Operational research
• Statistics.

Postgraduate study

A pre-entry postgraduate qualification is not a requirement.

Specific entry requirements

Proficiency in foreign languages may often be considered an advantage.

Training

Training is normally provided in-house.

Tips for applications

Pre-entry experience in a related professional area, such as accounting, computing, law or banking, can be helpful. Previous experience working in financial collections and or debt management is a plus.

Alternatively, relevant internships or insight programmes undertaken during study, for example with investment banks, can boost applications. Relevant part-time or temporary work is also useful.

Skills and qualities

• Strong analytical skills.
• Ability to think and act laterally and creatively.
• Strong computer literacy and knowledge of financial software, office systems and financial modelling skills.
• Ability to apply accounting principles in providing a professional interpretation of a client’s financial statements.
• Commercial awareness, business insight and professional judgement.
• Diligence and attention to detail.
• Ability to multi-task and prioritise.
• Good communication and presentation skills.
• Excellent customer service skills and the ability to form strong relationships with clients.
• Ability to work on own initiative as well as part of a team.