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The differences between credit risk analysts and senior fraud analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a credit risk analyst and a senior fraud analyst. Additionally, a senior fraud analyst has an average salary of $91,428, which is higher than the $85,376 average annual salary of a credit risk analyst.
The top three skills for a credit risk analyst include risk management, SAS and SQL. The most important skills for a senior fraud analyst are SQL, fraud risk, and fraud prevention.
| Credit Risk Analyst | Senior Fraud Analyst | |
| Yearly salary | $85,376 | $91,428 |
| Hourly rate | $41.05 | $43.96 |
| Growth rate | 11% | 3% |
| Number of jobs | 32,578 | 13,411 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 57% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
A credit risk analyst's primary role is to assess loan and purchase applications to determine a client's ability to uphold financial obligations. Their responsibilities revolve around performing various analyzation techniques to evaluate financial risks, maintain records of all applications and relevant data, and provide advice on businesses on whether to approve or decline the credit application. Furthermore, a credit risk analyst may perform clerical tasks such as producing progress reports and presentations, responding to inquiries, and coordinating with all departments.
A Senior Fraud Analyst performs extensive research and analyses to detect suspicious transactions and determine fraudulent activities in financial institutions or business establishments. Their responsibilities typically revolve around monitoring financial transactions and documents, gathering and analyzing various data, conducting account assessments, validating information, and thoroughly reviewing documents. There are also instances where they must set objectives, establish guidelines, produce progress reports, and resolve issues promptly and efficiently. Moreover, as a senior fraud analyst, it is essential to lead and serve as a role model for junior fraud analysts, overseeing their performance while implementing company policies and regulations.
Credit risk analysts and senior fraud analysts have different pay scales, as shown below.
| Credit Risk Analyst | Senior Fraud Analyst | |
| Average salary | $85,376 | $91,428 |
| Salary range | Between $62,000 And $116,000 | Between $69,000 And $120,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | New York |
| Best paying company | Western Alliance Bank | SoFi |
| Best paying industry | Government | Start-up |
There are a few differences between a credit risk analyst and a senior fraud analyst in terms of educational background:
| Credit Risk Analyst | Senior Fraud Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 57% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit risk analysts' and senior fraud analysts' demographics:
| Credit Risk Analyst | Senior Fraud Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 56.4% Female, 43.6% | Male, 43.5% Female, 56.5% |
| Race ratio | Black or African American, 7.6% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3% | Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 10.0% White, 69.0% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |