Credit Analyst Job Duties involve conducting risk assessments for the company. They need to study different lending proposals and discuss the risk involved in each with the company management and assist them in taking decision on which clients to deal with and which ones to avoid in future. A Credit Analyst works as a part of the Finance Department.
Credit Analyst Job Duties
- Credit Analysts are involved in calculating the risk factor involved in the client dealings.
- They are required to conduct risk assessment analysis in order to foresee any kind of risk that the company may be exposed to.
- Credit Analysts are required to study the details of the credit data and assess it.
- They are also required to go through the details of financial statements and reports and figure out the amount of risk involved in offering credit.
- Credit Analysts need to prepare reports that discuss the amount of risk involved in lending money. These are prepared for the reference of senior company officials who take decisions based on these reports.
- They are required to analyze the client’s track record and his pay back capacity in order to find out the risk involved in dealing with him or her.
- They are also involved in validating and approving loan requests of the clients.
- Credit Analysts are required to coordinate with different departments such as the billing department, collection department, accounts department, etc while preparing various reports.
- They must ensure that they adhere to the company norms while carrying out various tasks.