What does a commercial credit analyst do?
A commercial credit analyst is primarily in charge of assessing a client's credit or loan application, ensuring that they are fit to uphold financial obligations. Their responsibilities typically revolve around coordinating different departments to gather necessary client data, reviewing financial histories, verifying the authenticity of requirements, and developing financial profiles. Moreover, a commercial credit analyst may perform research and analysis to identify new business opportunities, produce progress and sales reports, monitor the payment progress of clients, and maintain a record of all transactions.
Commercial credit analyst responsibilities
Here are examples of responsibilities from real commercial credit analyst resumes:
- 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.
- Remain up to date on changes to HUD HECM, FNMA, and GNMA guidelines and investor requirements.
- Perform forensic analysis on conforming, non-conforming and government loans on close mortgage files, FHA & VA loans.
- Evaluate loan data submit for accuracy and compliance with policy and procedures in accordance with the FNMA product type.
- Audit default/liquidation processes for conventional and government-backed (FHA and VA) loans to ensure compliance with federal and state regulations.
- Perform complex economic evaluations on the corporation's LNG portfolio to determine the best mix of sales/destinations/volumes/price indexation etc.
- Reduce risk associate with mortgage-backed securities by providing quality assurance on the servicing and cash-flow reporting of all parties involve.
- Maintain a working knowledge of procedures and documentation requirements for credit-enhance lending through programs such as USDA and SBA.
- Answer questions pertaining to current rules and regulations for loan programs (including the SBA, ASSBCI and USDA).
- Assist in interdepartmental SOX testing to ensure compliance.
Commercial credit analyst skills and personality traits
We calculated that 8% of Commercial Credit Analysts are proficient in Credit Analysis, Customer Service, and Strong Analytical. They’re also known for soft skills such as Initiative, Detail oriented, and Interpersonal skills.
We break down the percentage of Commercial Credit Analysts that have these skills listed on their resume here:
- Credit Analysis, 8%
Conducted credit analysis including: gathering, analyzing and interpreting all types of credit information on existing and prospective customers
- Customer Service, 7%
Managed and directed daily activities of loan administrators for Richmond and Baltimore locations and maintained all customer service satisfaction goals.
- Strong Analytical, 6%
Apply strong analytical, negotiation and communication skill and persona risks by reviewing applications, and statistical data.
- Real Estate, 5%
Spread and analyzed business financial information for commercial real estate and Small Business Administration transactions to ascertain overall credit risk.
- Financial Statements, 5%
Review and analyze historical business financial trends and personal financial statements/credit reports and other supporting documentation to determine credit risk.
- Credit Worthiness, 4%
Analyzed financial documents including tax returns to determine customer's credit worthiness while mitigating risk of the financial institution.
Most commercial credit analysts use their skills in "credit analysis," "customer service," and "strong analytical" to do their jobs. You can find more detail on essential commercial credit analyst responsibilities here:
Initiative. To carry out their duties, the most important skill for a commercial credit analyst to have is initiative. Their role and responsibilities require that "loan officers may act as salespeople in promoting their lending institution, so they must contact people and businesses to determine their need for a loan." Commercial credit analysts often use initiative in their day-to-day job, as shown by this real resume: "assisted enterprise risk / internal audit manager and the president with credit risk management initiatives. "
Detail oriented. Another essential skill to perform commercial credit analyst duties is detail oriented. Commercial credit analysts responsibilities require that "information on an application affects the potential profitability of a loan, so loan officers must pay attention to details." Commercial credit analysts also use detail oriented in their role according to a real resume snippet: "performed detailed credit analyses and prepared written commercial loan approval reports. "
Interpersonal skills. Another skill that relates to the job responsibilities of commercial credit analysts is interpersonal skills. This skill is critical to many everyday commercial credit analyst duties, as "loan officers must be able to guide customers through the application process and answer their questions." This example from a resume shows how this skill is used: "strengthened interpersonal relationships with dealers by diligent follow-up on all credit approvals. "
The three companies that hire the most commercial credit analysts are:
- Columbia Bank13 commercial credit analysts jobs
- Fifth Third Bank8 commercial credit analysts jobs
- Thomaston Savings Bank7 commercial credit analysts jobs
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Compare different commercial credit analysts
Commercial credit analyst vs. 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. There are also instances where they sign important documents, delegate tasks, and resolve issues and concerns. Moreover, as a bank officer, it is essential to lead and encourage staff to reach goals, all while implementing the company's policies and regulations.
While similarities exist, there are also some differences between commercial credit analysts and bank officer. For instance, commercial credit analyst responsibilities require skills such as "credit worthiness," "cash flow," "risk analysis," and "credit quality." Whereas a bank officer is skilled in "business development," "bank products," "client relationships," and "bank policies." This is part of what separates the two careers.
Bank officers really shine in the finance industry with an average salary of $69,266. Comparatively, commercial credit analysts tend to make the most money in the automotive industry with an average salary of $70,023.On average, bank officers reach similar levels of education than commercial credit analysts. Bank officers are 0.9% less likely to earn a Master's Degree and 0.4% more likely to graduate with a Doctoral Degree.Commercial credit analyst vs. 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.
In addition to the difference in salary, there are some other key differences worth noting. For example, commercial credit analyst responsibilities are more likely to require skills like "strong analytical," "real estate," "credit worthiness," and "cash flow." Meanwhile, a mortgage banker has duties that require skills in areas such as "nmls," "federal regulations," "bank products," and "loan programs." These differences highlight just how different the day-to-day in each role looks.
Average education levels between the two professions vary. Mortgage bankers tend to reach lower levels of education than commercial credit analysts. In fact, they're 6.2% less likely to graduate with a Master's Degree and 0.4% more likely to earn a Doctoral Degree.Commercial credit analyst vs. Loan officer
Loan officers are responsible for assisting borrowers on the best type of loans to avail and guiding the clients throughout the application process. A loan officer must be highly knowledgeable about different lending products, payment plans, loan regulations, and essential files for fast loan approval. Loan officers also act as the first point of contact, conducting an initial screening of the customers, process loan contracts and appropriate documentation, update account records, and respond to customer's inquiries. A loan officer also has the right to reject loan applicants who do not meet loan qualifications.
The required skills of the two careers differ considerably. For example, commercial credit analysts are more likely to have skills like "strong analytical," "real estate," "financial statements," and "cash flow." But a loan officer is more likely to have skills like "loan origination," "fha," "nmls," and "loan products."
Loan officers earn the best pay in the finance industry, where they command an average salary of $42,046. Commercial credit analysts earn the highest pay from the automotive industry, with an average salary of $70,023.Most loan officers achieve a lower degree level compared to commercial credit analysts. For example, they're 7.4% less likely to graduate with a Master's Degree, and 0.4% less likely to earn a Doctoral Degree.Commercial credit analyst vs. Mortgage consultant
A mortgage consultant is an individual who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
Types of commercial credit analyst
Updated January 8, 2025
