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A credit analyst is a key piece of a bank's commercial lending department. The analyst reviews loans requests for potential risks and makes the recommendation for approval or declination. The position pays well and can offer a high potential for advancement into a job as a portfolio manager, loan officer or chief credit officer.
Focus on skills in both mathematics and writing. Not only will you will need to properly analyze a company’s financial statements, you must be able to prepare a persuasive narrative to support your decision to move forward or pass on a loan.
Select a major in finance, business or accounting. These three areas of study will give you the tools you'll need in your career. If possible, take electives in English composition or creative writing to enhance your supplemental abilities.
Apply for internships while completing your education. Your teachers and administrators will provide you with the opportunities they have available, but you can also attend career fairs and contact companies directly to see what openings are available. If you can get in at a company where you can ultimately see yourself working, it will be a tremendous help to landing a permanent job, assuming you perform well in the internship.
Pursue a master’s degree after completing your undergraduate study. While not a requirement for many jobs, the advanced degree will help you stand out when applying in a competitive field.
Stay current on trends and regulations in the lending industry. You can do this through business publications, news programs and websites. Staying current will allow you to speak intelligently at your interviews and show potential employers that you are serious about the job.
Complete your resume, tailoring it to obtaining a job as a commercial credit analyst. Highlight your educational background, your internships and your abilities that will assist in your job. These include writing skills, computer skills, attention to detail and analytical thinking.
Apply for open positions. Send your resume as well as a cover letter that really sells your abilities as an analyst and how you can benefit the company during your tenure. If you learn of openings at companies where you have previously interned, speak directly to your former supervisor about potentially getting an interview.
Carl Carabelli has been writing in various capacities for more than 15 years. He has utilized his creative writing skills to enhance his other ventures such as financial analysis, copywriting and contributing various articles and opinion pieces. Carabelli earned a bachelor's degree in communications from Seton Hall and has worked in banking, notably commercial lending, since 2001.