Credit Analyst

I got a call asking if I would be interested in a credit analyst position at bank. I don’t have much knowledge of this position, I have used the search function, and was wondering if it would be ideal anyone looking to obtain their charter. It appears one runs financial models to test the credit worthiness of customer loans, business loans, etc. From my understanding, a bank has the highest margins on business loans. Aside from that I have no intimate details of the job. maybe this is similar??

That’s my job. I’m not getting the charter to stay in it.

I do this for a consumer lending portfolio, and like juventurd I am not doing charter to stay in it. If you know basic statistics, decisions trees, or some forecasting you’ll do fine. I estimate the impact of new policy regulations on charge-off, loss reserves (which impact equity) and profitability. The creditworthiness is determined using behavior scores, which are generally developed by score card team (mostly Phds in statistics, physics, maths). Credit analysts just use them (at least in my case). Chicago, Delaware, NY and Cleveland have lot of openings for credit risk positions

Would this be a step forward from back office? The payscale I got in itself (1.5x what I make now) was a great step forward. Are you familiar if this job counts towards the qualified experience needed for the Charter?

Would depend on the type of credit analyst and the firm. In the hedge fund I work for the credit analysts sit on the trading desk and make direct decisions regarding the investments so definitely count toward the charter. However I would doubt that a consumer credit analyst at a retail bank would qualify.

KJH Wrote: ------------------------------------------------------- > Would this be a step forward from back office? > The payscale I got in itself (1.5x what I make > now) was a great step forward. Are you familiar > if this job counts towards the qualified > experience needed for the Charter? It does, I know a person who just got charter just based on credit risk job

This position will be responsible for providing an effective support system for the credit and lending staff at our xxx location. Responsibilities include assisting commercial lenders with preparation of loan requests, collecting and analyzing financial and credit information, and on-going monitoring of loans including annual reviews, field exams, loan documentation review, and collateral control. Requirements/Qualifications College degree in finance, accounting or business related field, and two or more years of commercial lending or credit analyst experience are required. Preferred candidates will have a sound overall banking knowledge, good understanding of lending and regulations, and thorough understanding of general ledger and accounting principles. I’m not so sure about this anymore. Doesn’t look like much of a step up other than the pay.

I was offered two positions from tow different banks as a credit analyst and the responsibilities are the same to the ones you listed. I turned down both of them and I accept a position as a wealth management assistant at small firm. It depends what do you want to do in your life. Credit analyst leads to relationship manager to loan portfolio manager to loan officer so basically you career will be retail, lending, stuff like that. If you are working on your CFA, then you are in a diffrent world from what i have described. So, speaking for myself, i think i made a better choice being an assistant at investment firm than being a credit analyst because i always wanted to work in investment research and money management. Good luck

Thanks SS. As better as a new job sounds, I can’t lose the scope of the employment. I think I’ll turn this away.

what is your job now?

I work in back office at a small RIA.

assuming, you are a recent grad as well?

I graduated 2 years ago, been in this position 1.5 years, and just took level 1.

Once you find out that you have passed level 1, then you can put in your cover letter and resume level 2 candidate, i think you will be able to land a good job. Thats my plan after i pass level 1. Good luck to us

i would say this is way better than the back office. i started in the back office, took a job in credit risk management for a year and now work in credit research at a fixed income shop on the buy side. my credit job was in counterparty credit at a bank though, so i was covering large banks and broker/dealers as opposed to supporting a loan officer, so it might be different. but i think the skills you would learn even in the credit job you posted would be much more marketable than those you are gaining in the back office. reality is you might have to approach yor career one step at a time, and this could be a decent next step. i wouldn’t rule it out, jobs are tough enough to get that you might as well apply and check it out.