How to hire a commercial credit analyst

How to hire a commercial credit analyst, step by step

Here's a step-by-step commercial credit analyst hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a commercial credit analyst job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new commercial credit analyst
• Step 8: Go through the hiring process checklist

What does a commercial credit analyst do?

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1. Identify your hiring needs

   First, determine the employments status of the commercial credit analyst you need to hire. Certain commercial credit analyst roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   A commercial credit analyst's background is also an important factor in determining whether they'll be a good fit for the position. For example, commercial credit analysts from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   The following list breaks down different types of commercial credit analysts and their corresponding salaries.

   Type of Commercial Credit Analyst	Description	Hourly rate
   Commercial Credit Analyst		$22-45
   Bank Officer	A bank officer is in charge of overseeing the daily operations at banking establishments, ensuring efficiency and client satisfaction. Their responsibilities include gathering and analyzing requests, approving and denying loan applications, providing consultations, processing client requests, and producing progress reports... Show more	$27-52
   Mortgage Banker	A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.	$4-37

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Credit Analysis
   • Customer Service
   • Strong Analytical
   • Real Estate
   • Financial Statements
   • Credit Worthiness
   • Cash Flow
   • Loan Portfolio
   • Risk Analysis
   • Credit Risk
   • Financial Data
   • Credit Quality
   • Cash Flow Analysis
   • Financial Statement Analysis

   Check all skills

   Responsibilities:

   • Manage and develop commercial lenders and administrative assistants.
   • Develop financial profiles, analyze company and customer financial data to improve portfolio strength.
   • Direct audit review resulting in the successful compliance of RESPA documentation.
   • Determine loan purpose use for RESPA compliance then recommend restitution when applicable.
   • Prepare accurate bids and proposals that conform to PPD contract requirements and meet client needs.
   • Serve as the departments' functional expert responsible for training fellow associates on the company's ERP system.

   More commercial credit analyst duties

3. Make a budget

   Including a salary range in your commercial credit analyst job description helps attract top candidates to the position. A commercial credit analyst salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

   For example, the average salary for a commercial credit analyst in Arkansas may be lower than in California, and an entry-level commercial credit analyst usually earns less than a senior-level commercial credit analyst. Additionally, a commercial credit analyst with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

   Average commercial credit analyst salary

   $66,482yearly

   $31.96 hourly rate

   ---

   Entry-level commercial credit analyst salary

   $46,000 yearly salary

   Updated December 17, 2025

   Average commercial credit analyst salary by state

   Rank	State	Avg. salary	Hourly rate
   1	California	$86,290	$41
   2	New York	$75,636	$36
   3	Delaware	$73,172	$35
   4	Oregon	$69,129	$33
   5	New Jersey	$67,897	$33
   6	North Carolina	$67,613	$33
   7	Maryland	$66,810	$32
   8	Pennsylvania	$66,028	$32
   9	Washington	$65,402	$31
   10	Massachusetts	$65,247	$31
   11	Colorado	$64,374	$31
   12	Illinois	$62,892	$30
   13	Maine	$62,379	$30
   14	Texas	$62,124	$30
   15	Georgia	$61,558	$30
   16	Florida	$61,483	$30
   17	Iowa	$60,782	$29
   18	Ohio	$60,127	$29
   19	Arizona	$58,480	$28
   20	Connecticut	$57,136	$27

   Average commercial credit analyst salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	HSBC Bank	$95,353	$45.84
   2	JPMorgan Chase & Co.	$84,068	$40.42	155
   3	FNB	$81,331	$39.10
   4	Fifth Third Bank	$80,998	$38.94	38
   5	M&T Bank	$79,048	$38.00	33
   6	TD Bank	$78,790	$37.88	12
   7	Morgan Stanley	$78,168	$37.58	6
   8	Capital One	$77,055	$37.05	32
   9	Wintrust Financial	$73,455	$35.31	19
   10	GM Financial	$72,933	$35.06	21
   11	BankFinancial	$72,133	$34.68
   12	Merchants Bank of Indiana	$70,645	$33.96	1
   13	Grandbridge Real Estate Capital	$68,880	$33.12	65
   14	U.S. Bank	$68,634	$33.00	35
   15	MountainOne	$67,441	$32.42	3
   16	Synovus	$67,348	$32.38	4
   17	Defiance State Bank	$67,277	$32.34	4
   18	Canadian Imperial Holdings, Inc.	$67,173	$32.29	3
   19	Stan Johnson	$66,542	$31.99
   20	ORS Partners	$66,323	$31.89

4. Writing a commercial credit analyst job description

   A commercial credit analyst job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of a commercial credit analyst job description:

   Commercial credit analyst job description example

   Our headquarters office in downtown Los Angeles has an immediate opening for a Credit Analyst to assist the credit team with the credit origination process, financial reviews, and credit analysis. This self-motivated multi-tasker will be responsible for reviewing borrower information, spreading financial data derived from financial statements and tax returns, performing cash flow analysis and preparing projections. Responsibilities include:
   
   Assists VP of Credit / Credit Manager / CCO, with the collection and analysis of information that reflects the creditworthiness of current and prospective clients in assigned territory. Performs initial and/or thorough review by gathering and analyzing their background credit and legal information to validate their credit worthiness and legal standing.
   
   Examines, analyzes, and evaluates complex documents and business structures. Extrapolates data from financial statements / credit agencies / “Google” searches /tax returns / and all available resources, in order to perform financial spreads and cash flow analyses utilizing “Financial Tools” software.
   
   Analyzes financial information such as management accounts and cash flow statements and utilizes knowledge and independent judgment to determine the degree of risk when compared to the Bank’s Credit policy. Makes appropriate recommendations.
   
   Assists in requesting credit and rating information from rating agencies such as Moody’s, Standard & Poor, Veri-Check, performs UCC searches, and orders third party reports required for underwriting proposals. Follows up to ensure updated financial information is received timely.
   
   Analyzes data and calculates the risks associated with granting business loans, real estate loans, individual loans for business purposes, and extending lines of credit for equipment and other goods.
   
   Develops financial profiles for each business by investigating its credit history and weighing its cash and other liquid assets against its debts. Updates profiles using tickler system.
   SKILLS: Bachelor’s degree (B.A./B.S.) or equivalent from two-year college or technical school in Accounting, Business, Economics, or related financial field 3+ years of experience working in commercial credit/lending department Experience working with commercial and commercial real estate loans. Experience in financial accounting and ability to perform cash flow analysis. Understanding various business operations and industries and how they relate to financial analysis and structuring of loans. SBIC is an Equal Opportunity Employer Company DescriptionState Bank of India (California) is a full-service financial institution, offering an extensive portfolio of lending solutions as well as comprehensive consumer, business, and international services. The Bank was established in 1982 as a California State Chartered Bank under the Department of Financial Institutions in Los Angeles, California. At present, we have a total of seven branches throughout California with our headquarters located in Downtown Los Angeles. Through our branch and online network, SBIC has a strong presence and specialization in specific business sectors and expanded strategic markets.

   Copy this example

   

5. Post your job

   There are various strategies that you can use to find the right commercial credit analyst for your business:

   • Consider promoting from within or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to find candidates who meet your education requirements.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to reach potential job candidates.

   Post your job online:

   • Post your commercial credit analyst job on Zippia to find and recruit commercial credit analyst candidates who meet your exact specifications.
   • Use field-specific websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit commercial credit analysts, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new commercial credit analyst

   Once you've selected the best commercial credit analyst candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.

   You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.

   Once that's done, you can draft an onboarding schedule for the new commercial credit analyst. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a commercial credit analyst?