Top skills you need to get hired as a credit underwriter

Posted on August 27, 2022August 27, 2022 by Imarticus Learning

Top skills you need to get hired as a credit underwriter

Do a top-of-the-flight credit and risk management course. You can pursue a credit risk management career as a credit underwriter with a rating agency, credit scoring agency, bank, commercial lender, or financial institution. There is much potential for credit underwriting jobs with increased use of credit cards and “Buy Now Pay Later” strategies. A credit underwriter performs detailed research into the financial history of businesses and individuals to ascertain their credit worthiness.

As a credit underwriter, you will evaluate the financial information and risks before granting loans to individuals and companies. To ascertain creditworthiness, you must verify the income, financial statements, and tax returns. Doing a credit management course from Imarticus Learning will set you on the right track to having a successful career as a credit underwriter. Imarticus Learning offers this course in collaboration with the prestigious Moody’s Analytics.

As a credit underwriter, you will perform some or all of the below-mentioned functions:-

Knowledge of vendor programs, scorecard techniques, online credit systems, financial analysis, portfolio analysis, and credit/risk management techniques.
Develop an awareness of internal bank commercial loan policy, credit risk management policy, and external regulatory requirements.
Complete periodic credit servicing of the loan portfolio and analyze financial performance.
Research and analyze client information for client servicing strategy, risk, and compliance committees.
Complete all relevant documentation for risk, business, and compliance committees.
Complete due diligence on all new credit requests, including credit analysis, financial statement analysis, real estate appraisals, and participating in client calls
Structure approvals to enhance dealer relationships and
Monitor adequate completion of the credit approval process
Assist in the management of transactions and deal flow.

The basic qualifications required are as follows:-

A Bachelor’s in Accounting, Finance, Business, Economics, or Management will lay the appropriate foundation.
Completing online credit management training through a credit management course from Imarticus Learning.

The skills required are as follows:-

Analytical and computational ability
Financial analysis and numerical ability
Attention to detail
Decision-making ability
Efficiency and communication skills
Ability to work well under pressure
Should be technically savvy and should have excel and other spreadsheet skills.

Types of credit underwriter jobs

The roles available in industry segments for a credit underwriter are as follows:-

Loan or mortgage underwriter
Insurance underwriter
Equity underwriter
Debt and security underwriter

Job profile:

Credit underwriting is a desk job requiring a lot of data analysis, calculations, and risk analysis. It also involves dealing with mortgage applications and credit processing. The starting salaries range upwards from Rs. 50,000 p.a.

A day in the life of a credit underwriter:

A credit underwriter plays a crucial role and is behind a financial institution’s decision to extend a line of credit to a business or grant a loan to an individual customer. Credit underwriters conduct economic analyses of companies and individuals to determine their creditworthiness. They analyze all related financial documents and credit scores to decide their creditworthiness. They work in tandem with loan officers and assist them in assessing the accuracy of loan applications. Credit underwriters also play an essential role in deciding whether to revise credit limits and interest rates on the existing loans of qualified borrowers. Financial institutions and banks need to lend money to meet their business objectives, so credit underwriters serve the essential purpose of selecting the most suitable borrowers.

What is the process of credit underwriting?

Credit underwriters look at the following 5 Cs to analyze credit:

Character: A credit underwriter orders a credit report of the potential borrower from any one of the following three agencies:-

TransUnion
Experian
Equifax

A credit report provides a complete analysis of the past borrowing habits of the borrower. Borrowers with late payments and delinquent debts show that they cannot manage their finances and reflect poorly on their creditworthiness. On the other hand, if you have a positive payment history, you are deemed a good borrower.

Capacity to borrow: The borrower may already have a certain amount of debt, so the credit underwriter has to gauge his capacity to assume further indebtedness. Ratios such as debt to income are calculated by comparing the borrower’s monthly income to the total debt amount. The level of indebtedness is also balanced against whether you have a high monthly income.
Conditions: The credit underwriter assesses the underlying conditions as to whether it is O.K. to extend the loan. Adverse legal issues, the overall state of the economy, and the nature of the borrower’s business are all taken into account.
Collateral: The credit underwriter will check whether the bank has a lien against any particular collateral or security and the property’s value that can be seized in a credit default event.
Capital: The credit underwriter will check whether the borrower has sufficient capital/balance in his account to make the down payments and closing costs.

Key Takeaways

As explained above, a credit underwriter plays a crucial role in reducing the Non-performing loans of a bank or a financial institution by making proper assessments and delivering sound credit decisions.

Visit: Imarticus Learning to learn more about credit management online training and courses. Contact us through chat support, or drive to our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad.

Can credit analysts be replaced by machines? Here’s what you need to know

Posted on August 27, 2022September 27, 2022 by Imarticus Learning

Can credit analysts be replaced by machines? Here’s what you need to know

With the extensive usage of machines, and technologies like artificial intelligence (AI), most routine tasks are now automated with reduced involvement of humans. Most of the functions that machines handle give better efficiency, more accuracy, and higher productivity, be it performing credit analysis. Such reasons will eventually put a question mark on professions like credit underwriter jobs.

According to the famous media house Business Standard, most jobs will be automated in the next 15-20 years. This conveys that people like us may lose jobs and be replaced by machines. This may drastically affect individuals’ financial growth.

Since machines will be working everywhere, you may ask, will credit underwriter jobs be at risk too? Can a credit analyst course or a certification in credit risk management be helpful? Let’s find out.

What Are Credit Underwriter Jobs?

First, you should know that a credit analyst is a professional who accesses the creditworthiness of individuals to help them perform their financial obligations successfully.

Their job is to do massive financial calculations and analyses of the creditworthiness of companies and securities. They gather past financial information from the customer and then evaluate their financial health and ability to repay the credit.

Their primary role is to provide the best solution to repay credit and improve the economic growth of individuals, companies, and even securities. Their main aim is to lower the financial risk and find the best possible solution within the limitations of the customers.

This Is What We Think Will Be Helpful

Do you know that the demand for automation occurs when the human efficiency and productivity of work decrease? In such cases, inefficient human resources get replaced by machines. However, machines lack creative thinking ability and qualitative and critical analysis.

However, humans have better creative thinking and qualitative and essential analysis abilities. Moreover, they have common sense while performing tasks. So, people will prosper in this field if they gather the skill set required for credit underwriting jobs.

Since a credit analyst not just analyzes credit worthiness, it also provides solutions according to the situation and its limitations. A machine will give the answers based on the data stored in them. They can’t refine new solutions according to the problem and the risks involved.

The following are steps that will help you ace credit analyst jobs:

· Develop the required skills for the credit analyst role

· Do courses and build knowledge and skills for this role

· Provide better understanding and solutions to the problems

· Perform certifications: this will prove your worthiness for this job role

Therefore, as a credit analyst, you will not just assess the situation correctly but also provide the best solution for your financial problem. Thus, it’s time to step up and gather the resources to secure the credit analyst role.

Time For Action

Machines won’t replace credit analysts. Instead, they will work together to improve efficiency, speed, reliability, and accuracy. Thus, It’s time for you to quickly take action and develop skills to improve productivity and provide the best solutions to your customers.

Take Up Credit Analyst-Related Courses

Look out for a credit analyst course or a certification in credit risk management. Having more accomplishments will upgrade your chances for such functions. Moreover, these credentials add to your skill set and help shape your career in this domain. These are the introductory courses whose accords are in demand in the financial market. Some of them are even rewarded.

Develop Skills by Getting Industry Exposure

Start working at an early stage. You can ask your tutors to help you get a little more practical exposure. Take up projects and look for work. You can always start with internships when you want to learn.

Suppose you are interested in finance and accounting and are willing to serve companies and consumers to solve their financial issues. Then credit underwriter jobs are perfect for you. There are various opportunities out there for the credit analyst role. Investment companies, commercial and private banks, and credit card companies are looking for an efficient individual with the proper skill set for credit underwriter jobs.

Bottom Line

Soon, technology will inevitably automate specific jobs. However, people need to understand that jobs that require deep analysis, critical analysis, creative solutions, and out-of-the-box thinking will not evaporate.

Credit underwriter jobs come under this category. They will survive the transformation wave, but after taking some actions. Analysts must be more efficient and productive and have the skills and knowledge to give the best solution. They can prove their worthiness by performing well in credit analyst courses and gathering certificates in risk management courses.

You can contact us through chat support or drive to our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad. We are here to help you out.

CFO: Skills, Education, Salaries, Responsibilities

Posted on August 27, 2022July 26, 2024 by Imarticus Learning

CFO: Skills, Education, Salaries, Responsibilities

Do you wish to become a CFO? If your answer is yes, then you must have taken into consideration the responsibilities, skills, education and salary of a CFO. But before you decide on this career jump, first understand who a CFO is and what does he do?

A CFO is the head of the finance and accounts department of an organisation. Hence, he is the man in charge of managing the flow of money in a firm. A CFO takes part in the day-to-day operations of his/her department and ensures that things are running smoothly with the company not facing any major financial hit. Moreover, he analyses the financial statements and related data and makes recommendations to better the performance.

Resultantly, he/she is the one who shoulders the responsibility of ensuring proper planning for a fiscal year and plays a pivotal part in implementing that outline.

Responsibilities of a CFO

As a CFO, you have many duties and responsibilities. Some of them have been given below –

Manage the company’s finance and accounting teams and give them the necessary directions as a leader.
Brief the CEO and other executive directors on the financial proposition of business plans.
Review finance, human resources, or tax-relevant financial procedures for formulating or enforcing internal control policies.
Upgrade the financial systems, cash flow processes, and associated technologies in the organisations.
Connecting with investors or shareholders to understand their expectations.
Compute data-driven analyses for giving the necessary financial recommendations to the company.
Supervise third-party auditors.

That’s not all. The CFO has to also manage the following professionals in the company –

Accounting professionals
Tax professionals
Financial analysts
Human resources personnel
Investor relations professionals
Financial controllers

Education of a CFO

Becoming a CFO takes time as you need the experience to manage a team. However, the academic background that you need to start your journey on this career path will include the following –

Following the completion of your class 10 or equivalent, it is ideal for taking up commerce as a stream.
Once you complete your 10+2 or equivalent, you can choose accounting and finance as your major in college, supported by subjects like business administration, audit, etc.
Now, after completing your college, you can enrol for specialised courses like MBA, or you can simply go ahead with the master’s degree.
At the same time, remember that completing the chartered accounting course can be another way of building your career as a CFO; you can study for the CA course after your graduation.

Now, if you don’t want to get into any confusion, you can simply opt for a specialised course like the chief financial officer course. Leading educational institutes like Imarticus Learning, along with the IIM Indore, is conducting such professional courses.

Now, a CFO executive training course will help you gather the knowledge to perform your duty as the departmental head. It will also give you an insight into the running and management of a business so that you can perform your duties better.

Skills of a CFO

Having the theoretical knowledge is not enough to become a CFO; for this, you need a few skills; these are –

Leadership and management skills

A CFO needs to manage teams and implement new financial models in an organisation. To achieve this, a CFO needs to have excellent management and leadership skills. They need to also make financial plans from scratch and implement them all across the organisation.

Problem-solving skills and data analysis

CFOs make business decisions across large corporate organisations to find feasible solutions to a problem in business. This needs problem-solving skills. Moreover, companies assume a CFO to offer explanations that are easy to implement and solve any organisational hurdles with the help of their data analysis skills. They are capable of handling financial analytics necessary for business and presenting strategic decisions for reducing exposure to risk.

Ethical Integrity

CFOs need integrity when it comes to matters of financial reporting because they are handling the entire finance at the senior-most level. Having ethically strong morals and principles is important, so employers hire candidates with high integrity for a company’s financial stability. The importance of this skill cannot be stressed enough. If a CFO is dishonest, the entire financial team will follow suit, reflecting on the company.

Communication skills

Top financial employees in an organisation communicate with all kinds of professionals in the company. This could mean they need to convey their ideas and reports to the CEO, business stakeholders and board of directors. The ability to communicate verbally and digitally with others is a role-specific job essential skill. Written communication skills could come in handy while preparing financial reports.

Salary of CFO

The average salary of a CFO in a medium-level organisation is ₹75,000- ₹1,00,000 per month. The salary in top organisations in the country could be astronomical. But the whole salary thing depends on the size and type of company. Other factors that come into play are the candidate’s qualification and experience and the job location. For instance, the average salary in Chennai could be higher than in Bengaluru for financial professionals. But that is just a rough estimate. It is better to extract this data from the company itself.

To conclude, being aware of the skills, responsibilities and salary of a CFO is only half the job done; what follows is the efficiency of using this knowledge to your advantage. In this regard, different professional courses can help you besides your traditional academic knowledge. In this regard, complete a CFO executive training from Imarticus Learning to give your career the required boost.

I compared top data science and machine learning courses and here’s what I think

Posted on August 27, 2022September 12, 2022 by Imarticus Learning

I compared top data science and machine learning courses and here’s what I think

We’ve all seen the data science and machine learning courses advertised on the internet. But what is a data science course, exactly? And should you be doing a machine learning course instead? I compare two popular data science and machine learning courses to help you decide if one is right for you.

Data Science

It is the in-depth examination of large amounts of data in a company’s or organization’s repository. This research includes determining where the data came from, analyzing its content, and determining how this data can get used to help the company grow in the future.

An organization’s data is always in one of two forms: structured or unstructured. When we analyze this data, we gain valuable information about business or market patterns, which gives the company a competitive advantage because they have increased their effectiveness by recognizing patterns in the data set.

Machine Learning

It is a subset of data science and is one of the most powerful tools in your arsenal. It’s also sometimes known as artificial intelligence or machine learning, but don’t let that confuse you. They all mean the same thing: techniques for making predictions about something based on past data.

If you’re new to this topic, consider what machine learning can do:

Predict future customer behavior by looking at past purchases (like online shopping).
Make recommendations based on users’ purchase history and preferences (like Netflix recommending movies based on previous viewing patterns).

What Makes These Two Techniques Different?

Data science includes machine learning. It’s more about the process of data analysis, while machine learning is more about the process of data prediction.

Data scientists rely on statistics and mathematics to analyze large amounts of information from diverse sources, but machine learning only uses math. This means that when you need to predict something based on past events or trends, you can use either technique—you just have different tools for each task!

How to choose between Data Science and Machine learning?

First, you need to know that there are two main types of data science: descriptive and predictive.

Descriptive data scientists analyze large datasets to find patterns, explain trends and predict outcomes. You can use them for marketing research, fraud detection, or predicting the weather.

Predictive models use machine learning algorithms like neural networks (a type of artificial intelligence) or decision trees (a tree-based model) that make predictions based on collected training sets—the same results over time.

Machine learning seems more applicable in some cases (like spam filtering), while data science might have better predictive power. In any case, both of these fields are extremely exciting and evolving rapidly!

Discover Data Science and Machine Learning Career with Imarticus Learning.

Students can start their careers in data science with this certificate program in data science and machine learning. Through this curriculum, students will learn the fundamentals of data science and machine learning and the knowledge and skills required to apply these concepts in the real world.

Course Benefits For Learners:

This five-month program, designed by IIT faculty members, will teach students how to use Python to understand data mining and machine learning methodologies.
India’s top educators will deliver this data science certification course live online.
Students will develop a solid foundation in data science with the assistance of our online data science program.

Contact us through chat support, or drive to our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Delhi, Gurgaon, or Ahmedabad.

Avoid these 6 mistakes while preparing a financial statement

Posted on August 27, 2022August 27, 2022 by Imarticus Learning

Avoid these 6 mistakes while preparing a financial statement

Financial statements are prepared on a particular date and show the business’s position as of that date. Therefore, it is essential to prepare financial statements accurately. They are the basis on which future business decisions are taken. However, there are chances that certain inadvertent errors may arise while preparing company financial statements.

What are these common mistakes that you should avoid while preparing What are these common mistakes that you should avoid while preparing financial statements? This is followed by how you can learn financial analysis to become a professional financial analyst.

Upcoming data and analytics trends in 2022

Posted on August 27, 2022August 27, 2022 by Imarticus Learning

Upcoming data and analytics trends in 2022

Data-driven decisions are the norm for today’s tech industry, and there is a subsequent demand for employees skilled in data analytics. Insights without actions are a thing of the past, which is why young professionals are turning to data analyst certification courses in addition to their education. The data and analytics trends shaping 2022 are insights and their necessary actions, real-time data analysis and decision-making, and implementation of artificial intelligence and machine learning, among others.

Why is it Important to Keep Up with Data and Analytics Trends and Learn Data Analytics?

Simply put, such courses help professionals stand out and have a better chance at job interviews. You would probably agree that choosing the right data analyst certification course is a top priority, as there can be courses that still comprise an outdated syllabus. You would want to learn data analytics from a course that encompasses the current trends in the market, and that’s how it should be.

Let’s look at some upcoming data and analytics trends to help you find the right data analyst certification course.

AI-powered Analytics

Artificial Intelligence (AI) has been gaining importance every year in each field, and data and analytics are one of the fields that stands to gain tremendously from its implication. AI has significantly improved decision-making quality by providing access to novel data sources. Amounts of data amassed by companies are forever increasing to know more about their target customers, making it challenging to analyse all of it correctly.

Machine learning (ML) and AI are powerful technologies that allow organisations to make the most out of valuable insights resulting from vast amounts of data. While these technologies are necessary now, they will soon be an essential part of organisations in the coming years. The number of organisations leveraging AI and ML will increase as they look to identify patterns, boost sales, and improve efficiency.

Data Fabric

Transforming current models into data fabric models allows businesses to store, locate, and leverage customer data more effectively. It serves as a robust framework to standardise an organisation’s data management techniques and provides consistent capabilities in multi-cloud environments. With constantly increasing data complexity, businesses will resort to this framework. This framework can reuse and combine various integration styles, technologies, and data hub skills.

The data fabric model significantly reduces maintenance, design, and deployment, lowering system complexity. Its comprehensive approach makes for more relevant customer experiences. Businesses get simplified access to more significant amounts of data, which means more informed decisions regarding customer behaviour and interactions.

Real-time Data Processing

Organisations want to act quickly, and who can blame them when a day later might be too late? Whether it pertains to developing a marketing campaign or something else, real-time data processing and decision-making are a couple of essential aspects within this list of data analytics trends. Businesses can no longer rely on or utilise data sets that are analysed monthly; this is how they stay ahead of the competition these days. There is a need for constant and continuous analysis of data sets in a bid to uncover underlying patterns or changes in customer behaviour.

Real-time data processing and decision-making require newfound adaptability and agility for teams to act on time and seize opportunities. The focus on real-time data processing, analysis, and decision-making will continue as businesses want to respond to changes as they arise to stay ahead of the competition.

Agile and Composable Data & Analytics

Composable data and analytics infrastructure have unmatched potential in terms of scale. The reasons for the popularity of composable and agile data and analytics are comprehensive resource management choices and automation options. Composable infrastructure helps speed up crucial business processes while also circumventing overprovision problems.

The data fabric model acts as the foundation required for agile and composable data and analytics. Capabilities such as driving DataOps and processing hardware are significantly improved, with reduced costs, by only providing data as needed and moving data to other storage systems.

Conclusion

Data and analytics aim to create a flexible, friendly, and smooth user experience by leveraging technologies such as AI and ML. The above data and analytics trends enable team leaders to connect their actions to the insights they receive, promote productivity and agility, encourage inter-departmental collaborations, and enhance the organisation’s analytics capabilities.

For those wondering how to become a data analyst, take a look at this data analytics certification course by Imarticus Learning. This data analytics certification course encompasses a vast syllabus with the latest data and analytics trends, specially designed to provide aspiring professionals with current industry practices and skills.