Credit Analyst

Accounting, Banking & Financial Services

ANZSCO ID 5522

Summary

Credit and Loans Officers analyse, evaluate and process credit and loan applications.

Employment Pathway

Formal qualifications are not essential to work as a Credit or Loans Officer. Although some workers have a Vocational Education and Training (VET) qualification or university degree in banking and finance, accounting, business and management or management and commerce.

Top Skills Required

Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times
Speaking - Talking to others to convey information effectively
Reading Comprehension - Understanding the meaning of written sentences and paragraphs
Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems
Service Orientation - Actively looking for ways to help people

Key tasks

Analysing information about customers and examining references, credit ratings, investment risks, pay slips and other information against predetermined policy standards
Contacting financial and credit institutions to obtain information about customers
Preparing papers setting out conditions of credit and loans, rates of repayment and loan periods, and providing information about customers' standing to financial and credit institutions
Authorising the approval of credit and loan applications and recommending credit and loan conditions and limits
Keeping records of payments, and preparing routine letters requesting payment for overdue accounts and forwarding these for legal action
Answering inquiries concerning credit standing of customers, loan balances and penalties
May recommend, approve and arrange mortgages
May work in a call centre

Facts about this occupation

6.4% Growth

85% Full-time Share

$1,450 Avg Pay/Wk

37,800 Workers

38 years Avg Age

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Required Skills

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