Occupation Summary

Credit Analysts

O*NET 13-2041.00

Description:

Analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with credit information for use in decisionmaking.

Annual Wages:
$87,663.00
Employment Rate:
Employment is expected to increase by 8.39%.
Education Level:
Bachelor's Degree. According to O*Net, the majority of people employed in this occupation have this level of education.
Endorsement:
Business and Industry, Science Technology Engineering and Math (STEM)

  1. Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
  2. Prepare reports that include the degree of risk involved in extending credit or lending money.
  3. Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
  4. Confer with credit association and other business representatives to exchange credit information.
  5. Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
  6. Generate financial ratios, using computer programs, to evaluate customers' financial status.
  7. Review individual or commercial customer files to identify and select delinquent accounts for collection.
  8. Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
  9. Consult with customers to resolve complaints and verify financial and credit transactions.
  10. Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
  11. Contact customers to collect payments on delinquent accounts.


National Industry Employment Patterns


Industry % of Credit Analysts employed Annual Growth Rate
Nondepository credit intermediation 16.1 -0.44


Labor Market Information


2024 Statewide average hourly wage $42.15
2024 National average hourly wage $47.14
2022 National employment 73,000
2022 Texas employment 6,210
Texas projected employment by 2032 6,731
Texas projected annual employment and Turnover openings through 2032 497




TEXAS COUNTY MAP BY WORKFORCE DEVELOPMENT AREA
* Due to confidentiality rules, not all regions may have the data displayed. The sum of all the regions may not be equal to the state total.


Top 10 Relevant Knowledge Areas Relevant Importance Levels
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
90.00%
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
78.00%
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
78.00%
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
65.60%
Administrative
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
60.00%
Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
57.00%
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
57.00%
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
56.00%
Production and Processing
Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
43.00%
Education and Training
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
42.00%


Top 10 Relevant Skill Areas Relevant Importance Levels
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
77.60%
Active Learning
Understanding the implications of new information for both current and future problem-solving and decision-making.
72.40%
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
72.40%
Speaking
Talking to others to convey information effectively.
72.40%
Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
70.00%
Mathematics
Using mathematics to solve problems.
67.60%
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
62.40%
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
62.40%
Time Management
Managing one's own time and the time of others.
60.00%
Monitoring
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
60.00%


Top 10 Relevant Abilities Relevant Importance Levels
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
80.00%
Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
77.60%
Written Comprehension
The ability to read and understand information and ideas presented in writing.
77.60%
Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
77.60%
Mathematical Reasoning
The ability to choose the right mathematical methods or formulas to solve a problem.
75.00%
Number Facility
The ability to add, subtract, multiply, or divide quickly and correctly.
75.00%
Problem Sensitivity
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
75.00%
Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
75.00%
Information Ordering
The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
72.40%
Near Vision
The ability to see details at close range (within a few feet of the observer).
72.40%


  • Analyzing Data or Information
    -- Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Getting Information
    -- Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Working with Computers
    -- Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Processing Information
    -- Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Communicating with Supervisors, Peers, or Subordinates
    -- Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Other Activities


  • Relationships
    - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
  • Support
    - Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.



Tools

Desktop calculator: 10-key calculators;

Desktop computers: Desktop computers;

Notebook computers: Notebook computers;

Personal computers: Personal computers;

Scanners: Scanners;


Technology

Analytical or scientific software: SAS;

Business intelligence and data analysis software: Oracle Business Intelligence Enterprise Edition;

Content workflow software: Equifax Application Engine; Experian Transact SM;

Data base user interface and query software: Microsoft SQL Server; Structured query language SQL;

Development environment software: Microsoft Visual Basic; Microsoft Visual Basic for Applications VBA;

Document management software: Credit adjudication and lending management system CALMS;

Electronic mail software: Microsoft Outlook;

Enterprise resource planning ERP software: Microsoft Dynamics; Oracle JD Edwards EnterpriseOne; SAP software;

Financial analysis software: CGI-AMS CACS Enterprise; CGI-AMS Strata; Moody's KMV CreditEdge; Moody's KMV Decisions; Moody's KMV Financial Analyst; Moody's KMV Risk Advisor; Moody's KMV Risk Analyst; Credit and risk analysis software; Credit fraud detection software; Dun and Bradstreet Global DecisionMaker; eCredit Enterprise; Equifax Advanced Decisioning; Fair Isaac Application Risk Model Software; Fair Isaac Capstone Decision Manager; Fair Isaac Falcon ID; Equifax InterConnect; Experian Credinomics; Experian Detect; Experian FraudShield; Experian Quest; Experian Retention Triggers;

Information retrieval or search software: CGI-AMS BureauLink Enterprise;

Object or component oriented development software: Python;

Office suite software: Microsoft Office software; Experian Strategy Management;

Presentation software: Microsoft PowerPoint;

Spreadsheet software: Microsoft Excel;

Word processing software: Microsoft Word;


Related O*NET occupational titles for Credit Analysts include:
  • 13-2011.00 Accountants and Auditors
  • 43-4041.00 Credit Authorizers, Checkers, and Clerks
  • 13-2071.00 Credit Counselors
  • 13-2051.00 Financial and Investment Analysts
  • 13-2061.00 Financial Examiners
  • 13-2054.00 Financial Risk Specialists
  • 43-4131.00 Loan Interviewers and Clerks
  • 13-2072.00 Loan Officers
  • 13-2052.00 Personal Financial Advisors
  • 41-3031.00 Securities, Commodities, and Financial Services Sales Agents


No sources of additional information found.

Contact Texas Workforce Commission
Labor Market and Career Information  |  101 E. 15th Street, Annex Room 0252  |  Austin, Texas 78778
Official Website  |  1-800-822-PLAN (7526)  |  512.936.3200

** The information in this report may be derived from many sources like O*NET, BLS (Bureau of Labor Statistics), OOH (Occupational Outlook Handbook), and Career One Stop.