What does a senior credit analyst do?
A senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
Senior credit analyst responsibilities
Here are examples of responsibilities from real senior credit analyst resumes:
- Supervise staff of 20-30 credit professionals managing an $80 - $100 million A/R portfolio consistently exceeding aging goals.
- Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
- Maintain customer master database in ERP.
- Pull all back-up documentation for quarterly SOX compliance audit.
- Ensure policies and procedures are follow in accordance with SOX guidelines.
- Resolve and communicate insufficient check and ACH issues with customers and sales.
- Develop and implement payment schedule for clients with cash flow problems and establish credit limits and reconciliations.
- Complete daily accounting audits while ensuring all record general ledger transactions are in accordance with GAAP and SOX.
- Credit evaluation to establish new clientele; including all legal resources of private research and Dunn & Bradstreet.
- Run and analyze Dunn and Bradstreet reports on all potential advertisers to determine if they are credit worthy.
- Maintain and grow relationship through credit and treasury products including swaps, derivatives, foreign currency and other products.
- Handle account reconciliations for military, states and distributor's accounts including resolutions for deductions and past due items.
- Institute global training programs to ensure compliance with revise policies and procedures for capital markets, treasury, and credit.
- Collect on first payment defaults and ensure portfolio are performing appropriately.
- Process all incoming inventory documents, payroll and timekeeping for warehouse associates.
Senior credit analyst skills and personality traits
We calculated that 6% of Senior Credit Analysts are proficient in Credit Analysis, Customer Service, and Real Estate. They’re also known for soft skills such as Listening skills, Negotiating skills, and Speaking skills.
We break down the percentage of Senior Credit Analysts that have these skills listed on their resume here:
- Credit Analysis, 6%
Prepared written credit analysis for existing and proposed credit relationships by performing industry research, project analysis, and financial modeling.
- Customer Service, 6%
Developed alternative credit options to maintain a viable business relationship and spent over a year managing the International Customer Service Department.
- Real Estate, 6%
Spread and analyzed financial statements and other financial information to prepare written reports of commercial and real estate lending relationships.
- Risk Management, 4%
Provided credit and risk management support for various sales regions in North America with additional supervisory responsibilities for 3 Credit Associates.
- Credit Risk, 4%
Managed credit risk and reviewed existing accounts/loans and took appropriate risk action where necessary, communicated credit decisions with customers.
- Loan Portfolio, 4%
Created quarterly and semi-annual monitoring reports identifying performance trends in the loan portfolio leading to reduced loan losses year-over-year.
Most senior credit analysts use their skills in "credit analysis," "customer service," and "real estate" to do their jobs. You can find more detail on essential senior credit analyst responsibilities here:
Analytical skills. A big part of what senior credit analysts do relies on "analytical skills." You can see how essential it is to senior credit analyst responsibilities because "to assist executives in making decisions, financial managers need to evaluate data and information that affects their organization." Here's an example of how this skill is used from a resume that represents typical senior credit analyst tasks: "detailed credit analysis of small- to large-cap companies for equity financing including third party allotment, preferred stock and acquisition financing. "
Communication skills. A commonly-found skill in senior credit analyst job descriptions, "communication skills" is essential to what senior credit analysts do. Senior credit analyst responsibilities rely on this skill because "financial managers must be able to explain and justify complex financial transactions." You can also see how senior credit analyst duties rely on communication skills in this resume example: "use dunn & bradstreet, communication with other vendors and online sources to determine credit worthiness of customers. "
Detail oriented. Lastly, "detail oriented" is an important element of what a senior credit analyst does. Senior credit analyst responsibilities require this skill because "in preparing and analyzing reports, such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors." This resume example highlights how senior credit analyst duties rely on this skill: "completed detailed credit analysis of various customers and prospects. "
The three companies that hire the most senior credit analysts are:
- NBT Bancorp Incorporated25 senior credit analysts jobs
- First Horizon Bank17 senior credit analysts jobs
- GM Financial16 senior credit analysts jobs
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Compare different senior credit analysts
Senior 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 senior credit analysts and bank officer. For instance, senior credit analyst responsibilities require skills such as "risk management," "cash flow," "credit worthiness," and "credit analysts." Whereas a bank officer is skilled in "business development," "bank products," "client relationships," and "financial statements." 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, senior credit analysts tend to make the most money in the finance industry with an average salary of $90,023.The education levels that bank officers earn slightly differ from senior credit analysts. In particular, bank officers are 0.4% less likely to graduate with a Master's Degree than a senior credit analyst. Additionally, they're 0.3% more likely to earn a Doctoral Degree.Senior 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.
In addition to the difference in salary, there are some other key differences worth noting. For example, senior credit analyst responsibilities are more likely to require skills like "real estate," "risk management," "credit risk," and "loan portfolio." Meanwhile, a loan officer has duties that require skills in areas such as "origination," "loan origination," "fha," and "nmls." These differences highlight just how different the day-to-day in each role looks.
On average, loan officers earn a lower salary than senior credit analysts. Some industries support higher salaries in each profession. Interestingly enough, loan officers earn the most pay in the finance industry with an average salary of $42,046. Whereas senior credit analysts have higher pay in the finance industry, with an average salary of $90,023.Average education levels between the two professions vary. Loan officers tend to reach lower levels of education than senior credit analysts. In fact, they're 6.9% less likely to graduate with a Master's Degree and 0.3% more likely to earn a Doctoral Degree.Senior credit analyst vs. Commercial loan officer
Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from senior credit analyst resumes include skills like "real estate," "risk management," "excellent interpersonal," and "credit limits," whereas a commercial loan officer is more likely to list skills in "financial statements," "business development," "bank products," and "loan documentation. "
Commercial loan officers earn the best pay in the finance industry, where they command an average salary of $54,859. Senior credit analysts earn the highest pay from the finance industry, with an average salary of $90,023.commercial loan officers typically earn similar educational levels compared to senior credit analysts. Specifically, they're 0.2% more likely to graduate with a Master's Degree, and 0.5% more likely to earn a Doctoral Degree.Senior credit analyst vs. Loan administrator
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Even though a few skill sets overlap between senior credit analysts and loan administrators, there are some differences that are important to note. For one, a senior credit analyst might have more use for skills like "credit analysis," "real estate," "risk management," and "credit risk." Meanwhile, some responsibilities of loan administrators require skills like "data entry," "loan administration," "loan processing," and "financial statements. "
In general, loan administrators earn the most working in the finance industry, with an average salary of $48,093. The highest-paying industry for a senior credit analyst is the finance industry.The average resume of loan administrators showed that they earn lower levels of education compared to senior credit analysts. So much so that theyacirc;euro;trade;re 5.9% less likely to earn a Master's Degree and more likely to earn a Doctoral Degree by 0.3%.Types of senior credit analyst
Updated January 8, 2025
