Analyze current 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 this credit information for use in decision-making.
Wages & Employment Trends
- Median wages (2006) $25.17 hourly, $52,350 annual
- Employment (2006) 67,000 employees
- Projected growth (2006-2016) Little or no change (-2% to 2%)
- Projected need (2006-2016) 27,000 additional employees
Credit Analyst, Analyst, Underwriter, Credit Manager, Credit Administrator, Credit Representative
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- 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.
- Confer with credit association and other business representatives to exchange credit information.
- Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
- Generate financial ratios, using computer programs, to evaluate customers’ financial status.
- Review individual or commercial customer files to identify and select delinquent accounts for collection.
- Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
- Consult with customers to resolve complaints and verify financial and credit transactions.
- Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.
Tools & Technology
- Tools used in this occupation:
- Calculators or accessories — 10-key calculators
- Desktop computers
- Notebook computers
- Personal computers
Technology used in this occupation:
- Content workflow software — Equifax Application Engine; Experian Transact SM
- Document management software — Credit adjudication and lending management system CALMS software
- Financial analysis software — CGI-AMS CACS Enterprise; Experian Credinomics; Moody’s KMV Risk Advisor; Moody’s KMV Risk Analyst
- Information retrieval or search software — CGI-AMS BureauLink Enterprise
- Office suite software — Experian Strategy Management
- Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- 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.
- 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.
- Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking — Talking to others to convey information effectively.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Instructing — Teaching others how to do something.
- Social Perceptiveness — Being aware of others’ reactions and understanding why they react as they do.
- Learning Strategies — Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Speech Recognition — The ability to identify and understand the speech of another person.
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Indoors, Environmentally Controlled — How often does this job require working indoors in environmentally controlled conditions?
- Telephone — How often do you have telephone conversations in this job?
- Spend Time Sitting — How much does this job require sitting?
- Face-to-Face Discussions — How often do you have to have face-to-face discussions with individuals or teams in this job?
- Importance of Being Exact or Accurate — How important is being very exact or highly accurate in performing this job?
- Spend Time Making Repetitive Motions — How much does this job require making repetitive motions?
- Work With Work Group or Team — How important is it to work with others in a group or team in this job?
- Freedom to Make Decisions — How much decision making freedom, without supervision, does the job offer?
- Electronic Mail — How often do you use electronic mail in this job?
- Letters and Memos — How often does the job require written letters and memos?
Considerable Preparation Needed
- Overall Experience A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
- Job Training Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
- Job Zone Examples Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, human resource managers, computer programmers, teachers, chemists, and police detectives.
- SVP Range (7.0 to < 8.0).
Most of these occupations require a four – year bachelor’s degree, but some do not.
- Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Integrity — Job requires being honest and ethical.
- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Independence — Job requires developing one’s own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Concern for Others — Job requires being sensitive to others’ needs and feelings and being understanding and helpful on the job.
- Persistence — Job requires persistence in the face of obstacles.
- Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
- Working Conditions — Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
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