How to Become a Credit Analyst
A credit analyst examines the financial history of a person or a business. He or she uses your credit history, including any outstanding debts, to determine the degree of risk factor involved in lending you money. A background in business and mathematics, as well as critical thinking and good writing skills, is essential for those who wish to become a credit analyst.
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Instructions
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Earn a college degree in either a 2-year associate's or a 4-year bachelor's program. The majority of credit analyst positions require a degree in business, economics, accounting or a related field. Strong math skills are also beneficial.
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Take writing or communications courses to become proficient in expressing yourself through the written word and in interpersonal relationships. One of the main job functions of a credit analyst is to write reports about his findings and to relay that information to a bank or loan officer.
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Keep yourself informed on trends in the credit industry by reading professional literature. Creditworthy.com has information about many credit topics (see Resources below). If you want to become a credit analyst, reading about the different types of credit and current questions and concerns can help familiarize you with the field.
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Ask at your local banks about any available positions they may have for a credit analyst. Dress neatly and be sure you have several updated copies of your resume to distribute if asked to do so.
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Apply for positions you have found through newspaper ads or online postings. If you need to send your resume electronically, remember to proofread carefully. Prospective employers will be assessing your level of organization and accuracy, which are important skills needed by credit analysts.
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Consider another job at a bank or other financial institution if you are not having luck finding a credit analyst position. Sometimes starting out at a company can get you "in the door" and may lead to other positions within the company.
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Tips & Warnings
As you search for employment as a credit analyst, you may find varying education requirements. Most jobs require a Bachelor's degree, while for others you may only need to have an Associate's degree. Usually, the higher degree you have will provide more opportunity for advancement and higher pay.
Resources
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Comments
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the word "credit" is all about risk, risk n risk.
