What is a Credit Risk Analyst

A credit analyst is a financial professional who reviews and assesses the financial history of a person or organization to determine if they are good candidates for a loan. They assess the creditworthiness of individuals and companies. The roles of a credit risk analyst include the evaluation of financial data to determine the level of default risks and preparing a report for the client and the lender. It also includes the provision of recommendations tied to analysis and assessment of credit risk, presentation of analysis, findings, and recommendations to the manager. A credit analyst develops and prepares spreadsheets to support analysis of new and existing credit applications and keeps up to date with the company's lending protocols.

A credit risk analyst must have strong proficiency in MS office and general computer use. They must also have the ability to effectively manage deadlines for projects in a high-pressure work environment and pay attention to details to notice discrepancies in data. As a credit analyst, you must have an impeccable understanding of financial statements and concepts. A credit analyst usually has at least a bachelor's degree in finance, accounting, or related fields. On average, the credit risk analyst earns $78,000 per year.

There is more than meets the eye when it comes to being a Credit Risk Analyst. For example, did you know that they make an average of $41.46 an hour? That's $86,232 a year!

Between 2018 and 2028, the career is expected to grow 14% and produce 118,300 job opportunities across the U.S.

What Does a Credit Risk Analyst Do

There are certain skills that many Credit Risk Analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Computer skills, Detail oriented and Math skills.

Learn more about what a Credit Risk Analyst does

How To Become a Credit Risk Analyst

If you're interested in becoming a Credit Risk Analyst, one of the first things to consider is how much education you need. We've determined that 70.0% of Credit Risk Analysts have a bachelor's degree. In terms of higher education levels, we found that 20.1% of Credit Risk Analysts have master's degrees. Even though most Credit Risk Analysts have a college degree, it's impossible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a Credit Risk Analyst. When we researched the most common majors for a Credit Risk Analyst, we found that they most commonly earn Bachelor's Degree degrees or Master's Degree degrees. Other degrees that we often see on Credit Risk Analyst resumes include Associate Degree degrees or High School Diploma degrees.

You may find that experience in other jobs will help you become a Credit Risk Analyst. In fact, many Credit Risk Analyst jobs require experience in a role such as Internship. Meanwhile, many Credit Risk Analysts also have previous career experience in roles such as Credit Analyst or Underwriter.

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And if you’re looking for a job, here are the five top employers hiring now:

  1. Citigroup Jobs (100)
  2. Morgan Stanley Jobs (18)
  3. LendingClub Jobs (23)
  4. UBS Jobs (22)
  5. Goldman Sachs Jobs (31)
Average Salary
$86,232
Average Salary
Job Growth Rate
14%
Job Growth Rate
Job Openings
34,617
Job Openings
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Average Salary for a Credit Risk Analyst

Credit Risk Analysts in America make an average salary of $86,232 per year or $41 per hour. The top 10 percent makes over $122,000 per year, while the bottom 10 percent under $60,000 per year.
Average Salary
$86,232
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5 Credit Risk Analyst Resume Examples

Learn How To Write a Credit Risk Analyst Resume

At Zippia, we went through countless Credit Risk Analyst resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Credit Risk Analyst Resume Examples And Templates

And if you’re looking for a job, here are the five top employers hiring now:

  1. Citigroup Jobs (100)
  2. Morgan Stanley Jobs (18)
  3. LendingClub Jobs (23)
  4. UBS Jobs (22)
  5. Goldman Sachs Jobs (31)

Choose From 10+ Customizable Credit Risk Analyst Resume templates

Zippia allows you to choose from different easy-to-use Credit Risk Analyst templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Credit Risk Analyst resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Credit Risk Analyst Resume
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Credit Risk Analyst Resume
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Credit Risk Analyst Resume

Credit Risk Analyst Demographics

Credit Risk Analyst Gender Statistics

male

56.4 %

female

43.6 %

Credit Risk Analyst Ethnicity Statistics

White

64.4 %

Hispanic or Latino

13.5 %

Asian

10.5 %

Credit Risk Analyst Foreign Languages Spoken Statistics

Spanish

32.5 %

French

13.3 %

Chinese

11.4 %
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Credit Risk Analyst Education

Credit Risk Analyst Majors

28.1 %
24.6 %
11.5 %

Credit Risk Analyst Degrees

Bachelors

70.0 %

Masters

20.1 %

Associate

5.8 %

Top Colleges for Credit Risk Analysts

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

7. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

8. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

9. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

10. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451
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Online Courses For Credit Risk Analyst That You May Like

Credit Risk Analysis and Modeling
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Learn all about Credit Risk Analysis, Credit Rating, Credit Scoring, Structural Models, Term Structure in details...

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All you want to know about Credit Specific Risk Analysis from a Bankers and Analyst Perspective...

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This course provides you with the tools needed to undertake effective, conclusion-based, commercial credit analysis...

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Top Skills For a Credit Risk Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 13.8% of Credit Risk Analysts listed Risk Management on their resume, but soft skills such as Computer skills and Detail oriented are important as well.

Best States For a Credit Risk Analyst

Some places are better than others when it comes to starting a career as a Credit Risk Analyst. The best states for people in this position are New York, California, West Virginia, and Connecticut. Credit Risk Analysts make the most in New York with an average salary of $104,606. Whereas in California and West Virginia, they would average $98,378 and $96,091, respectively. While Credit Risk Analysts would only make an average of $94,929 in Connecticut, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Credit Risk Analyst Jobs:
1,842
Highest 10% Earn:
$146,000
Location Quotient:
1.92
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Connecticut

Total Credit Risk Analyst Jobs:
257
Highest 10% Earn:
$133,000
Location Quotient:
1.04
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. North Dakota

Total Credit Risk Analyst Jobs:
66
Highest 10% Earn:
$126,000
Location Quotient:
0.95
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Credit Risk Analysts

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Top Credit Risk Analyst Employers

Most Common Employers For Credit Risk Analyst

RankCompanyZippia ScoreAverage Credit Risk Analyst SalaryAverage Salary
1$103,086
2$99,837
3$99,002
4$95,289
5$89,297
6$87,255

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