Senior credit analysts are responsible for assessing credit requests and producing a recommendation based on a variety of factors; this involves a careful analysis of a client’s financial information, including income statements, tax forms, cash flow history, and current debt. Using this information and best practices and methods, senior credit analysts assign credit requests a rating based on their assessment of the probability of default by the client. Using this information along with the proposed loan amount and terms, the risk to the lender can be determined and a final recommendation given.
Senior credit analysts work closely with loan officers (who are the primary contact point to the client) to inform them about loan policy and the results of the risk assessment. In some cases, credit analysts may work with clients as well to verify information and perform additional research on their financial history and future. Some senior credit analysts may also be responsible for working with clients after a loan has been approved to evaluate past due accounts and manage collections. Senior credit analysts generally work in an office environment during regular business hours.
Senior credit analysts are required to hold a bachelor’s degree in finance, accounting, or a related field. Several years’ experience working with credit or loan evaluation is also required, as senior credit analysts work relatively independently on their credit assessments. However, they may be required to have client contact or work with other credit analysts on more complicated accounts.
Senior Credit Analyst Tasks
Perform underwriting of loan requests and annual reviews.
Assess and authorize credit limits, and monitor credit risk.
Provide analysis of customer financial statements.
Ensure all data entry is accurate and complete.