What is a Credit Analysis Manager?

A credit analysis manager, also known as a credit risk analysis manager, oversees the credit analyst who works under him or her. The analyst is the one responsible for determining the risks involved with various types of lending proposals. These can range from highly complex to simple. The analyst does this in several ways, including possible income growth, determining the market share and taking into consideration the management’s decision to determine if lending the money will be a profitable decision for the company. The credit analysis manager is someone who started out as a basic analyst before moving into a management role.

Credit Analysis Manager Job Description

Although it seems, at first, that the job duties of a credit analysis manager are very straightforward, in reality, the role can be quite complicated, according to the Bureau of Labor Statistics. One of the main roles of the credit analysis manager is to compare profitability and credit histories of both companies and individuals in order to make a decision and determine the risk of lending money. In addition, a credit analysis manager must compile financial records that include payments, savings and earnings of individuals or companies that they have previously lent money to or will down the road. He or she will also need to make the occasional dreaded collection call as well as make visits to clients who have fallen behind on their payments.

Benefits of Being a Credit Analysis Manager

There are certain advantages for those who hold this position. First, credit analysis managers are not limited to one specific kind of company, mainly because credit rating agencies and banks aren’t the only companies to offer financing for their services and products. Credit analysis managers may also work at auto dealers, utility companies, retail chains or commercial credit departments. Second, a career as a credit analysis manager may pave the way to more exciting career paths like investment banking or portfolio managing. Other related careers include operations research analyst, fraud analyst, financial advisor, treasurer or auditor.

Becoming a Credit Analysis Manager

Individuals seeking to pursue a career as a credit analysis manager should prepare themselves for a rigorous education. Students will first need to earn a bachelor’s degree from an accredited university or college. For the most chance of success in the field, the degree should be in accounting, finance, business administration or economics. Students should be prepared for subjects such as financial statement analysis, industry assessments, ratio analysis, economics, calculus and statistics. In addition to completing a degree, it’s also vital to have analytical, critical thinking and investigative skills. Since the credit analysis manager deals with both clients and employees, efficient communication skills are also a must.

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Since credit analysis manager positions are competitive in the business world, aspiring managers will need to apply themselves to not only increase the likelihood of getting a job but also keeping the job as well. This can be done by taking advantage of opportunities such as earning a certificate or master’s degree or participating in on-the-job training to further develop skills and knowledge. A higher degree in finance, accounting or business administration will not only help the credit analysis manager to complete his or her daily duties but also help promote advancement through the system while increasing job security.