We can’t guarantee that you will get college or university credit for taking our courses since it's ultimately determined by your university or college and depends on a variety of factors specific to each individual, including but not limited to, which major you choose. We have participating accredited universities who accept our courses for college credit, and our courses have earned a recommendation for credit from outside agencies like the National College Credit Recommendation Service (NCCRS) whose recommendations are considered by over 1400 accredited colleges and universities in the United States. Nor can we grant college credit for taking our courses. ![]() is not a college or university and we don’t offer degrees. Additionally, aspiring credit analysts who are having difficulty finding roles without experience can enhance their resumes by enrolling in graduate certificate programs in credit analysis to show that they’re trained to perform the role. MBA degrees are commonly required for finance management and director positions. ![]() Some may work in loan processing departments performing basic tasks, while others may be able to secure junior credit analyst positions.Ĭredit analysts that want to move into high paying roles later in their careers often go on to pursue master’s in business administration (MBA) degrees with a focus on finance. Getting a job as a credit analyst with no former experience may be difficult, so it’s common for aspiring credit analysts to take on junior-level roles to gain experience before applying for full credit analyst positions. With either an associate’s or bachelor’s degree, aspiring credit analysts should be qualified to take on entry-level positions at lending institutions. Because a lot of the work credit analysts do is with numbers, taking advanced math classes in college could help better prepare you for your career. The degree pursued is somewhat flexible, though most credit analysts major in finance-related subjects like accounting, business, finance, economics, or statistics. However, most positions require a bachelor’s degree. The minimum degree requirement for credit analyst positions is an associate’s degree. Most credit analysts work for banks, credit card companies, and other financial and lending institutions. Projected Job Growthĭemand for credit analysts is expected to grow in coming years due to new laws that impose stricter regulations on lending institutions. Overtime may be occasionally required but is not the norm, and most credit analysts are off on weekends and holidays. Most credit analyst positions are full-time and are conducted during normal business hours. This makes the job both difficult and rewarding for people with the right skill sets and an interest in the field. Because they’re assisting people with financial matters and helping banks make decisions that could result in either profits or losses, the role a credit analyst plays is hugely important to both the lender and the borrower. The role of a credit analyst requires attention to detail, proficiency in math, good negotiation skills, and good people skills. Conversely, they help consumers find the best possible loan options, work with them to understand their financial situation to find the best loan terms and repayment plans, and help educate consumers on how to apply for loans in order to get the best terms and rates. They perform thorough analysis to ensure the bank doesn’t take on unnecessary risk by lending to consumers that are likely to default on repayment. In many ways, credit analysts serve both the consumer and the lending institution. They analyze credit histories to determine the amount of risk the loan holds for the bank, and they counsel customers on potential repayment options. When working with customers, credit analysts collect important information related to credit histories, finances, debts, and other financial obligations. Understand government lending laws and regulations to ensure compliance in all lending activitiesĬredit analysts spend their days working with customers and loan applicants analyzing loan applications, credit histories, and finance records and creating and completing paperwork.Assist consumers in preparing loan application paperwork.Establish finance rates and loan terms based on credit analysis findings.Review consumer finances and existing obligations to help form repayment plans that work for both the borrower and lender.Analyze consumer credit histories, debts, and incomes to determine the amount of risk inherent in providing individual consumers with loans or lines of credit.The following job responsibilities are common for individuals in credit analyst roles:
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