Analyst, Credit Risk Management Salary
Earnings for Credit Risk Management Analysts in the United States come in at around $65K per year on average. Geography and years of experience each impact pay for this group, with the former having the largest influence. Most Credit Risk Management Analysts are fairly content with their jobs, and work satisfaction falls in line with the national average. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Most people who answered the questionnaire are men; 60 percent of Credit Risk Management Analysts are male. This report is based on answers to PayScale's salary questionnaire.
Job Description for Analyst, Credit Risk Management
An analyst, credit risk management works in a bank or financial institution. He or she works with potential and current loan and credit clients to make smart decisions regarding loans and loan applications. The analyst is normally an actual employee of the financial institution where he or she works, but private credit risk management firms also hire analysts.Read More...
An analyst who works at a bank will typically examine loan applications and advise the bank on the risk involved. He or she will help the institution to manage the risk that will be taken on by extending credit, and will provide suggestions about acceptable sections of credit, including interest rate level, term of the loan, and maximum amount. The analyst may assist businesses of all sizes with the credit application and loan process as well. Many businesses will find that they can qualify for loans, but an analyst can help to determine what kind of credit is in that company's best interest to manage their own risk factors. The credit risk management analyst can go over the expected needs and cash flow of the business applicant, and advise them of potential problems they may encounter with an application.
Most analysts in credit risk management will need to have a university degree in finance, economics, or some related discipline. In addition, a credit risk management analyst's own credit must normally be very strong, especially if the analyst is working as a direct employee of a bank. Most credit risk management analysts work regular business hours during the week in an office environment.
Analyst, Credit Risk Management Tasks
- Ensure that approved accounts remain in good standing.
- Establish terms for approved credit requests.
- Assess credit risk.
- Aggregate and evaluate data related to credit and credit risk to support organizational decision-making.
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Pay by Experience Level for Analyst, Credit Risk Management
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Although individuals who have less than five years' experience earn $59K on average, people with five to 10 years benefit from a notably larger average of $78K. After working for 10 to 20 years, Credit Risk Management Analysts make a median salary of $70K. Average wages for folks with more than 20 years of experience come out to around $73K.