ADD ADVICE TO FAVCredit risk analyst
In retail banks, credit risk analysts assess the risks associated with providing a loan to a particular individual or business.
What credit risk analysts do
- provide statistical information to assist in production of analyses
- undertake risk assessment analysis of various types of lending proposals
- analyse market trends
- make recommendations to reduce and/or control risk
- use financial packages and software
- produce monthly analysis reports
- protect their organisation’s assets
- study government legislation and review legal documents.
Key skills
- a high level of numeracy and analytical skills
- good research skills
- good IT literacy
- excellent interpersonal, team-working and communication skills
- ability to be decisive
- effective problem-solving and influencing skills
- negotiation skills
- ability to cope with pressure and responsibility.
Training to be a credit risk analyst
Most of the training is on the job. Some employers offer in-house training relating to their sector, and may also offer training and awards run or accredited by external providers, such as the Institute of Credit Management. As well as credit risk measurement and management, these may cover areas such as quantitative analysis and market risk management.
It is also possible to undertake further study at diploma / master’s level.
Salaries
Credit risk analysts are employed within a variety of financial institutions and pay will, to some extent, reflect the environment they are working in. A starting salary in the region of £20,000 to £35,000 can be expected, rising to £80,000 or more according to experience and seniority.
Professional bodies
- Association of Credit Professionals
- British Bankers Association
- Institute of Credit Management
- Global Association of Risk Professionals (GARP)
