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Degrees and Schools
Many colleges and universities provide degrees in the subjects of accounting, finance, economics and business. Undergraduate and graduate degrees are available.
Classes
Students typically study the following subjects:
- Business
- Risk management
- Mathematics
- Information technology
- Statistics
Training in the applicable computer software is important.
Online Classes and Programs
Many colleges and universities provide online degrees in the subjects of accounting, finance, economics and business.
Students should look for online programs provided by schools which have been provided accreditation from an agency approved by the Council for Higher Education or the United States Department of Education.
Employment Requirements
Most employers require a bachelor's degree in accounting, finance, economics, business or a related financial field. The top job providing sectors for credit analysts are banks, other types of lending institutions and government agencies.
How to Evaluate Schools and Programs
The answers to the following questions can help students select the appropriate school:
- Training - Are relevant externships provided? Do students have to find their own externship?
- School's Reputation - What kind of reputation does the school have with banks and other lending institutions?
- Job Placement - Are students provided job placement services? Does the school provide job fairs? Do representatives of banks and other lending institutions recruit students at the school?
- Curriculum - What type of electives are offered? Can students select an area of specialization?
- Financial Aid - Does the school provide financial aid? Is the school qualified to provide federal financial aid?
- Accreditation - Is the school accredited by an agency which has been approved by the the United States Department of Education or the Council for Higher Education?
Credit Analysts Job Description
Credit analysts evaluate the ability of individuals and companies to repay their loans and other types of debts. They determine the risk involved in offering business loans and extending lines of credit. A credit analyst also develops reports for decision making purposes. Commercial credit analysts are employed by banks and other types of commercial lenders and by government agencies.
Shown below are some of their responsibilities:
- Examine customer's records and recommend payment plans
- Create financial profiles for companies
- Exchange credit information with credit associations and other types of business representatives
- Create financial ratios by using computer programs to assess an applicants financial status
- Evaluate a company's market share, income growth, management quality and other items to estimate the expected profitability from the loans
- Compare credit histories, profitability and liquidity of companies being evaluated with similar companies in the same industries and locations
- Monitor credit extension decisions
- Compile data for financial reports
Resources
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