What skills does a credit analyst need?

Question

Zippia Team · Accepted Answer

The skills needed to be a credit analyst include being skilled in several areas, such as financial analysis, due diligence, multitasking, and attention to detail. The skills can not really be learned in school; rather, they require formal training and work experience.

Important skills needed to work as a credit analyst include:

Quantitative and analytical skills. Credit analysts are required to review different types of financial documents related to a client's business. They should be able to identify key areas such as omissions, errors, and fraud that may affect the credibility of the lending process.
Due diligence. Credit analysis requires a high degree of caution and care in assessing the financial health of a borrower. An analyst is required to demonstrate great attention to detail when reviewing client documentation.
Proficiency in financial software. The work of a credit analyst requires incorporating statistical software in the evaluation process to obtain ratios and analyze large volumes of data within a short time.
Ability to work under pressure. The daily routine of a credit analyst involves dealing with multiple clients and urgent projects at the same time.