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Tag: credit risk analyst course

Why Creditors Must Focus on Automating Their Credit Risk Workflow Processes

Posted on by Imarticus Learning

Lending institutions conduct credit risk analyses before approving credit. For most lenders, credit risk analysis usually depends on several years of experience. Such credit risk management is a combination of astute loan portfolio analysis and an intuitive knowledge regarding borrowing risks. 

However, owing to increasing competition and significant regulatory changes in the backdrop of economic uncertainty, creditors are focusing on automating credit risk workflow automation.  

credit risk analyst courseCredit risk management is a popular part of the banking sector today. You can undertake credit risk management courses to implement the knowledge in today’s evolving lending market.

A credit analyst certification will help you to conduct credit assessments using modern automation techniques.

Impacts of Automating Credit Risk Management 

With a massive jump in credit requests, the lenders’ ability to analyze credit risk efficiently has declined. This has potentially led to a rise in loan default. However, with the automation of credit risk assessment, creditors can swiftly process loan requests in bulk without credit risk or increased expenses. 

By including artificial intelligence and machine learning in credit risk management, credit institutions can enjoy a host of benefits. As a creditor, you can use modern technologies in various circumstances, which will allow you to draw crucial insights about borrowers from a large set of data.

Here are some of the ways in which automation impacts credit risk analysis, thereby benefiting creditors:

Increased Fraud Detection – Credit card and loan fraud is a massive business throughout the globe, which has been costing billions to lending institutions. However, such frauds can be efficiently reduced by automating the credit risk assessment process. Through predictive analytics, automation processes can be used to detect fraud risks associated with certain borrowers. 

  • Scalability

It can be challenging for financial institutions to achieve scalability under conventional credit risk analysis systems. This is usually because creditors need much understanding about the lending sector so as to be able to process a vast number of documents for stacking, analysis, categorization, extraction, and more. With automation, institutions can easily manage the entire process without having to assess each case of credit risk individually. This can enable creditors to concentrate on offering additional services. 

  • Compliance with Regulations

One of the significant benefits of automation is that it provides lenders with the flexibility to alter rules and implement them according to the basis of the criteria that you provide. Therefore, with automation, you can easily automate several processes that are prone to errors.

  • Enhanced Underwriting

Through credit risk management automation, a lender can carry out document creation, credit request approval, and granting with increased personalization. This can happen while still being within the regulations of the institutions. Moreover, automated credit risk assessment processes come with all loan-risk factors that can be otherwise neglected during conventional credit risk assessment.

Available Automated Solutions for Credit Risk Management 

Automating the credit risk management process helps lenders to eliminate high-risk customers while conducting a more accurate analysis of customers. Here are some of the most commonly-used automated credit risk assessment techniques: 

 

  • General process automation
  • Low-code application platform
  • Cognitive and robotic automatic solutions

 

Bottom Line

Automation of credit risk assessment is widely applied off late. As a credit analyst, you need to be equipped with the knowledge of recent automation techniques predominant in the lending sector. With a credit analyst certification following a credit analyst course, you can enhance your decision-making abilities regarding credit risk assessment. 

credit risk analyst course

Credit risk management courses allow individuals to gain major insights into the crucial elements of the credit analysis process employed by banks. A credit analyst certification will also enable you to learn about various challenges that one can face during portfolio analysis. 

Risk underwriting teams: How are risks assessed?

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Risks assess by underwriting teams, which are composed of experts in risk type. For example, the commercial team will determine risks related to commercial clients, while the retail group will evaluate risks for retail clients. This blog post will explore how these professionals assess risk types with a focus on defining specific terms.

Understanding these terms is vital for both people considering new lines of business and those who want to improve their current practices to analyze risk levels better and make more informed decisions about what they can offer clients.

The factors on which risk assets depends

Lending & Credit Products

Lenders use a formalized approach to assess the creditworthiness of an individual or business borrower based on their behavioral and financial history. This information collects in a credit report, which summarizes credit history over time with a scoring model that assigns a 300-850. Anything below 600 is considered subprime, and 600-700 is considered near-prime or “second chance” lending. For example, if there is a credit card user with a score of 700, they are likely to pay their monthly payment on time but may carry an unusually high balance on the card at a time when interest rates are low.

Credit reports look at certain factors that may signal higher risk to lenders, such as missed payments on loans or credit cards, requests for new credit lines, and lack of repayment history on existing lines of credit.  If there is a pattern of credit denials, then the person or business may be considered less likely to repay future loans.

Credit reports also provide insight into how borrowers manage their budgets. For instance, individuals (and businesses) with high debt levels relative to their income are at higher risk because they must simultaneously make payments on multiple loans. It reduces their ability to repay all of their obligations on time.

Personal guarantors

If an individual or business doesn’t have a strong enough credit history to meet the lender’s criteria, they may get a loan if they secure it with collateral such as real estate. Lenders will assess this risk and determine whether the asset’s value is enough to cover the total amount owed in case of default.

Credit analysis

This term comes from credit underwriters and refers to a more detailed review of the borrower’s to repay a loan based on cash flow projections and other information such as documentation about assets and liabilities. These professionals typically look at all the borrower’s financials, including income and living expenses.

Capital Markets Products

Products that fall into this category include bonds, stocks, and derivatives such as futures and options. For example, a corporation issues a bond with a face value of $1 million to raise capital to fund its operations. As the corporation repays the loan, that $1 million returns to bondholders. Underwriters analyze a corporation’s credit history and financial documents as part of their decision to evaluate whether to issue debt (bonds).

Enroll today in a Credit risk underwriting course with Imarticus Learning

The only program in the world teaches students all they need to know about lending, credit risk analysis course, credit management, legal and regulatory requirements, and the influence of new-age technologies. They can acquire a robust toolbox that helps students grasp India’s credit management course online, study the whole loan evaluation and due diligence process. Therefore students can conduct financial analysis through the Credit Risk Analysis Course and Credit management Course online.

Some course USP:

  • The Credit risk underwriting course lets the students learn job-relevant skills that prepare them for an exciting career.
  • Impress employers & showcase skills with a certification endorsed by India’s most prestigious academic collaborations.
  • World-Class Academic Professors to learn from through live online sessions and discussions. It will help students understand the practical implementation with real industry projects and assignments.

Smarter Credit risk underwriting with Bank data

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The introduction of AI tools has caused a significant change in all industries. In the banking and finance sector, AI and ML have proven to be highly reliable support tools. It has lessened the workers’ grunt workload and in turn, has let them focus on the finer aspects of their profession that AI is still unable to perform. It is the same when it comes to credit risk assessment.

With the help of AI tools, the predictability of the underwriting risks is a lot closer to the actual numbers. A lot of institutions in India provide good credit risk underwriting courses. A credit risk analyst course is the only way if you are thinking about pursuing a career in this profession. Imarticus Learning as always has come forward with a marvelous credit risk analyst certification course that will give you the necessary boost for your career.

In this article, we are going to talk about what credit risk underwriting is, how AI tools help to manage it better, and some other things that should be kept in mind.

What is credit risk underwriting?

There is a chance when a financer offers a loan, that the interest, as well as the capital amount, might not be repaid. It negatively impacts the underwriter or financer financially. Predicting the lapse in the repayment of the contractual amount and the ensuing loss faced by the financer or underwriter is what credit risk assessment is about. And underwriting risks are what the financer or underwriter has to bear while offering contractual loans. A credit risk analyst course helps you hone the necessary skills required for assessing such situations.

Benefits of AI tools

The application of AI tools in managing credit risk underwriting is still blossoming. However, many companies have already put themselves one step ahead by comparing and accepting the benefits brought forth by AI tools. The major benefits of this are:

  • Older systems are unable to keep track of the massive amount of data and decipher the finer aspects of a contract which could impact the credit risk negatively. In this scenario, the application of AI and ML tools to collect bank data increases the accuracy of the model significantly
  • AI tools are excellent at detecting patterns swiftly even through big data. In this way, it is possible to detect potential risks to the contractual agreement.

Key points to keep in mind

There are a few things, though, that should be kept in mind when it comes to credit risk underwriting, such as:

  • The process should be supervised regularly as financial companies are now supposed to be a lot more transparent and auditable. 
  • Adjustments should be made in the framework development of the risk management process, as an unpredictable model could cause more harm than benefits.
  • A lot more focus should be kept on the standardization, accuracy, and validity of data processing. As these tools are extremely data-sensitive, the whole process might fall short without a proper flow of information.

Conclusion

With the increase of AI tools in all corporate sectors, the need for AI smart professionals has increased. Especially so for a sector as data-sensitive as finance. This is high time to look for good credit risk underwriting courses. Check out Imarticus Learning’s credit risk analyst certification course.

credit risk analyst courses

If you are thinking of pursuing a career in this field. It is undoubtedly one of the best institutions out there, and it will help elevate your skills to the next level.

Learn How To Build and Manage a Global Set of Underwriting Models

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Have you ever wondered what to do in the face of financial risk? Do you know what an Underwriting Model is?

In the world we live in, uncertainty is an unavoidable part of life, you cannot know for sure what might happen in the future and how companies will be affected through different events in time. As a specialist, you must be able to advise and manage companies at risk through the use of financial tools.

In this program, you will learn how to handle such models and learn the basics of risk management. If you are interested in this topic and you want to learn credit risk underwriting, read on as we will talk in more detail about our CRU-PRO degree.

What is an Underwriting Model?

Many financial institutions are in charge of providing loans to clients or companies that request them, but an institution has to be responsible and know if a business is able to pay back. Underwriting is a process used by financial institutions to know the degree of risk when investing and to be able to predict if there will be problems with late payments or debts.

At Imarticus, we offer you a program of more than 145 hours in which you can learn all about the different models of underwriting and also get an overview of credit risk in India. Through this program, you will have all the necessary tools to achieve and perform a qualified financial analysis that will be useful for any company.

Learning Process

Our CRU-PRO degree has a partnership with Moody’s Analytics, so it has strong industry-oriented learning. In addition, we encourage the use of disruptive technologies during the courses, since we know many of the current businesses are heavily oriented towards technology.

Through five different case studies, you will be able to apply everything you learn during the program in a more practical way. In this program, you will study some topics such as Macro-Economics, Credit Administration, Regulatory frameworks, and more in the different credit risk management courses and the credit risk analyst course. You will also have access to extremely qualified personal and group tutors.

Other Benefits

At Imarticus, you will have career services that will help you improve your different skills during the program. In these courses, we will guide you to build a professional profile that will allow you to accelerate your admission process. We also offer professional interview preparation to help you gain confidence and succeed in the different interviews without any problems.

 Career Options

At the end of this program, you will have the skills and knowledge to become an Operational Risk Manager or Credit Risk Manager. You may also have the experience to become an Investor or start in a Credit Financing Manager position.

Conclusion

This program will provide you with modern risk management tools and methodologies for the evaluation, administration, and control of credits used already by important financial entities. After finishing the CRU-PRO degree, you will have a certificate that will allow you to show the knowledge you have acquired so that you can take your career to the next level, in addition, it is a certification accepted by the industry.

Don’t hesitate and enroll in our program as soon as possible. If you have any questions about the different courses, the case studies, or the program, you can always go to the Imarticus website to access the brochure or request a demo.

What is the Primary Objective of Credit Risk in Banks?

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Credit risk refers to the risk of failure of repayment of the principal and interest of the loan from the loan borrower to the lender. Whenever a borrower defaults on his/her payments of the loan there occurs an interruption in the cash flow to the lender. To compensate for the risk of the loss of payment, the lender uses the interest payment from the loan.

The credit risk analysis course helps the lenders evaluate the financial capability of the borrower to repay the loan so that the lender remains protected from the losses. Any borrower with high credit risk is charged a high rate of interest as compensation for the high risk of the payment default. There are 5C’s of credit that a lender must keep in mind while assessing the credit risk of the borrower. These factors include:

● Character
● Capital
● Capacity (to repay the credit)
● Collateral
● Conditions

A borrower is judged on these above-mentioned aspects to evaluate the probability of any payment default or subsequent financial loss. These 5C’s measure both quantitative and qualitative values. A lender may analyze various documents that include the borrower’s income proof, purchase history, credit reports, balance sheets, etc. for this purpose.

The primary objective of the analysis of credit risk is to reduce the default returns and maximize the returns. Loans are the chief money-making source of banks. However, when it lends credibility to a person or a business, there is always a risk associated with it for non-repayment or default in repayment. This can result in a bank suffering financial losses.

To mitigate this risk, the bank analyzes the probability of defaults and gives a score like a credit score rating. It can also use credit ratings calculated by other financial institutions like CRISIL, moody’s, etc. The higher the rating, the better it is for the borrower as it indicates a better capability of repayment and thus will result in lower interest rates. However, if the rating is low, it indicates greater chances of defaults leading to higher interest rates.

To safeguard themselves from the damage, every bank has a minimum required rating for the borrower to become eligible for a loan. In addition to this, banks also demand collateral from the borrower like property in case of a house loan, car in case of a car loan, etc. If the borrower fails to repay the loan, the bank has the right to sell the collateral and recover their money.

Credit Analysts use different kinds of financial techniques to measure credit risk. These techniques include ratio analysis, trend analysis, etc. These techniques help the banks measure the changing creditworthiness of the borrower and thus evaluate the potential of credit loss. Credit Analysts play an important role in banks by helping them analyze their loan borrowers and reduce the risk of defaults. They help save the money of the bank and in fact, increase it skillfully through identifying good loan borrowers.

A credit analyst career has a bright scope with a good pay scale. Anyone with a financial, accounting, or related degree or a credit risk course can become a credit analyst. There are various pathways in this role that one can take on with experience or further qualification advancements through a master’s degree or a certified credit risk course from a reputed institution.

A good credit risk professional should follow all the principles of credit risk management to be better perform the job and help banks make better decisions regarding the loan process.

What is Credit Risk and Its Types

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Breaking down Credit Risk

Risk is naturally the part and parcel of doing any business. The higher the risk the higher are the returns, this is how we naturally see risk as an important element associate with business. So what exactly is credit risk? Well, credit risk can be simply understood as the risk of default in case a borrower is not able to return the borrowed amount of money during a specified timeline.

The important thing to note here is the timeline, so if a borrower is not able to pay back the money to the lending part during a specific period then they are considered as defaulters and the risk associated with the probable bad debt is known as credit risk. The time to repay the money varies depending upon the agreement between the borrowing and the lending party.

So why do the borrowers default? Well, the borrowers could default paying the money back due to various reasons, the most common ones include financial instability and irregular cash flow. Sometimes they might not be successful with their venture that they borrowed the money for. At times, they might not intentionally pay the money back because the contractual legal obligations are not strictly enforced.

So what are the consequences for the borrowers and lenders in case a credit risk situation arises? Well, the lenders usually face cash flow disruptions and the cost of collecting the money-back also increases, they can lose the principal and the interest amount due on the loan. In short, it has major financial repercussions when you see it from a macro perspective on an aggregate level.

For the borrowers, the consequences can be legal enforcements and interest pile up on the amount due. If the borrower has pledged collateral as security for the loan it can be sold up by the lending party to recover for the losses due to the amount loaned. Generally, the collateral is not sold to recover losses and the borrowing party is given some additional time to repay the amount due along with interest.

Assessing Credit Risk

Credit risk assessment is a tool that helps lenders to avoid unnecessary credit risk. It is a method to screen out the high-risk borrowers who might have a higher probability of default. So who is a high-risk borrower? Well, generally a high-risk borrower is the one who has a bad financial track record and also has irregular cash flow, in addition to this those who don’t have collateral for the loan are also considered as high risk in some cases.

However, the risk appetite of the lending party decides if the borrower is a high risk or a moderate one. The big question here is how does the credit risk assessment take place? So if you dig

Types of Credit Risk

Credit risks can be categorized into 3 major groups depending upon the nature and characteristics of the group. Let’s get into the specifics of each type to obtain a comprehensive understanding.

  • Credit default risk
    Credit default risk is the most common type of credit risks that the lenders face quite frequently. It is the risk of default by the borrower on his/her loan obligation. It happens when a borrower fails to repay the borrowed amount during a specific period as mentioned in the contract. It influences time-sensitive transactions such as loans, securities, derivatives, etc.
  • Concentration risk
    Concentration risk can be simply understood as the risk involved with focusing on a particular industry or group. It is based on the principles of putting all your eggs in one basket. If a financial institution is focused on providing loans to a specific group of individuals then it might face a huge concentration risk when that particular group or industry is not performing well and the borrowers fail to meet the loan obligation.
  • Country risk/ Sovereign risk
    The country risk or sovereign risk is the risk arising out due to the political and economic instability in a particular state or country, the defaulter could be state or any other body within the state. Sudden instability within the nation can cause huge sovereign risk, especially for foreign firms or entities.

Good to Have: New Age Skills in Credit Risk & Analysis!

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Many people think that credit risk and analysis is a dying industry. They believe that technology or computers in the future will take it over. However, this couldn’t be further from the truth.

In reality, Credit risk and underwriting degrees are becoming more critical in today’s world because they teach people to work with numbers and use them effectively for decision-making purposes.

 

Skills for Credit Risk Analysts:

A career in credit risk and underwriting requires a diverse skill set. You must understand the intricacies of various industries, have excellent analytical skills, and have an in-depth knowledge of accounting principles. However, it’s not just about the technical aspects.

A successful candidate also needs to possess some New Age Skills such as leadership abilities, communication skills, and negotiation experience. New skills must be learned to stay on top of the latest trends. One of these new skills is programming, which can help with data analytics and automation.

Here are some other common skills required for a Credit Risk Analysts:

Strong quantitative & analytical skills: Credit Analysis requires digging into financial statements & analyzing credit risks using tools like ratio analysis. Hence having an analytical mind is important.

Knowledge of financial analysis: A Credit Analyst must know their way around financial statements & develop a knack to find items impacting the company’s debt-paying abilities. Risk analysis is a part of their job profile and may demand analysis of different scenarios.

Attention to detail & diligence: Errors made in assessing creditworthiness can be costly for the entity & stakeholders too.

Communication skills: Credit Analysts course prepare financial standing reports, which needs excellent report writing skills. They are also required to interact with company management & clients, to scrap out information & discuss problems. Good people with oral communication skills excel as credit analysts.

Credit Risk Analyst CourseComfort with Financial/Statistical software: Credit analysis requires risk analysis using statistical software. Knowledge & comfort working on such platforms is an advantage.

Move up the Ladder with Imarticus Learning:

A Credit analyst’s job is challenging and demands analytical solid skills. Looking for careers after graduation, you can get placed as junior analysts/management trainees assisting analysts. However, to move up on the ladder, you may need a Master’s degree or certification courses like CFA/CA/FRM.

Imarticus Learning offers Credit Risk and Underwriting Prodegree that helps you carve a career in Credit Risk Underwriting. Students get an in-depth understanding of the dynamic banking & non-banking financial corporations (NBFC) loan markets during the program.

credit risk and underwriting courseThrough this Credit Risk and Underwriting Prodegree, students acquire a powerful toolkit that helps them understand the credit landscape, learn the entire process of loan assessment and due diligence and conduct financial analysis. The students get hands-on learning experience and explore five comprehensive case studies linked to different aspects of the curriculum.

After completing this course, students are rewarded with an industry-recognized Certificate of Excellence in credit risk & underwriting. The certification represents the skills & knowledge they have imbibed during the course and can be used to boost your portfolio and resume. To answer your questions like what after B.Com? This CRU Pre-degree is the answer!

For further details on business analytics courses in India, contact us through the Live Chat Support system or visit our training centers in Mumbai, Thane, Pune, Chennai, Bengaluru, Hyderabad, Delhi, Gurgaon, and Ahmedabad.

What Do Credit Risk Analyst Do?

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Whenever you borrow money as a loan for your needs whether personal or business the CRA- risk analysts analyze and evaluate your credit-worthiness and application. Most CRAs work as financial consultants, for banks, NBFCs and rating agencies like Fitch or Moody’s Investment Services.

They appraise the loan applications for the credit-risk involved and whether the borrower has the means and credit-history to repay the loans as per the contract, on time and if the cash-flows shown, are sufficient to run the loan-risk.

Credit Risk Analyst Responsibilities

The normal day in the credit risk analyst workday involves

  • Maintaining and monitoring pre-approval, limits etc. of credit.
  • Execution and setting up of audits, control and test groups.
  • Undertaking credit analyses, technological and statistical support for such analysis.
  • Assessing and evaluating risk-related results, credit risk analyst score, limits and recommendations.
  • Creating SQL and SAS software programs running on marketing databases from multiple sources.

Credit Risk Analyst Skills:

To start your CRA career as an Intern you will need to have a diploma or under-graduation in finance, accounting, business administration, economics etc. The next senior-level as an Associate needs a bachelor’s degree and relevant work experience in financial firms or banks. You will also need

  • Professional communication and visualization skills to present ideas and data effectively through presentations.
  • Good understanding of statistics, mathematics, data analysis and modelling.
  • High aptitude for data analysis techniques, technologies and skills in problem-solving.
  • Excellent knowledge of financial and problem analysis.
  • Capacity to work long hours with dedication.
  • Doing a credit risk analyst course helps immensely especially if it is with a reputed training partner like Imarticus Learning.

Career Path and Payouts:

The career path for a credit analyst as he moves up with experience could lead to becoming a CFA-Chartered Financial Analyst or a Senior Bank Credit Officer. According to Payscale, the median pay for a Credit Risk Analyst in the US is 21.16 USD per hour and 63,544 USD per year. The median Credit Analyst starting pay is 19.15 USD per hour and the annual pay is 49,830 USD per year. In India salaries for Credit Risk Analysts, as in May 2019, were in the ranges of 256k to 2m Rs with a bonus of 24k to 255k Rs, a profit sharing option of up to 35k Rs depending on the contract.

Some of the recruiting companies are Societe Generale, Hang Seng Bank, DBS, Capital First Limited, Accenture, Credit Suisse Group among many others.

At the entry-level, in India, with about a year’s experience, the Credit Risk Analyst could earn a total compensation of 550,000 Rs as an Intern. With 1 to 4 years of experience, the total compensation rises to 616,736 Rs as an Associate. Further, with 5 to 9 years the compensation rises to 1,455,000 Rs as VP, MD or CFO.

Based on respondent experience-years a 20.6 per cent of the credit risk analyst respondents were at the Entry Level, 63.2 per cent at the early levels of their career and 16.2 per cent were at the mid-career levels.

CRAs at New Delhi earned the highest with a median of 96.2 per cent higher than the Indian national average. Gurgaon and Mumbai also had better than median payouts. Pune at lesser by 22.5 per cent and Bangalore with 22.2 per cent lesser offered the lowest median salaries.

The CRA assesses and manages risk assessment. A career in this field involves several prerequisites, hard work and a lot of dedication besides an affinity for quantitative and financial analysis.

The main tasks allocated to the CRA are:

• Credit risk and financial analysis.

• Data evaluation and recommendation making to help with decision-making in risk assessment, maintenance and mitigation.

• Monitor and ensure the loan accounts and their credit ratings.

• Process and evaluate credit request terms.

Doing a credit risk analyst course at Imarticus Learning has many advantages. This job is for those who have the dedication and can put in a lot of hard work. At Imarticus the course will help you hone your practical skills in financial learning, your personality and communication skills through effective mentorship and even offers you assured placements on course completion.

Certification is an important measurable factor of your skills and you get ample aid in qualifying at the exams too. If you want to be in this lucrative career with high payouts then doing a course is essential as these techniques are not amenable to self-learning.

How Do I Become Credit Risk Analyst

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A CR analyst finds job roles in the credit, lending and risk management divisions of commercial banks, companies offering credit cards, and NBFA or other financial institutions. Their main role is to assess and manage credit risks on an ongoing basis while evaluating applications for credit and loans in terms of compliance, credit-worthiness and regulatory norms. As a CR analyst, you may be client-facing or may need to educate other banking staff members who are client-facing with the credit-reports, insights and data to enable decision making on the offering of loans or credit lines.
The practice of credit risk management and its regulation was in the limelight recently when the global financial crisis caused a major credit crunch. The regulators felt transparency was lacking in the norms followed by banking credit risk analyst and risk evaluators and sought to ascertain that the associated risk of lending to customers would need thorough customer knowledge and credit risk evaluation. Changes and introduction of new Basel-III regulations would be burdensome felt the banks.
Though many banks have complied in meeting the stringent mandated regulatory requirements by overhauling their credit risk approach, training staff through credit risk analyst course and absorbing the higher costs incurred in terms of capital costs incurred treating credit risk as a mere compliance measure is being blinded. Better risk management does provide banks with the chance to get competitive and improve their performance indices.
The CR analyst uses data like payment history, credit reports, financial analysis of statements and job or work history while evaluating and making presentations on credit applications. Most times the bank always incorporates the CR analyst reports as a mandatory document for judging and deciding on credit-worthiness. Ongoing monitoring of customers and ensuring compliance to regulatory norms are also a part of the duties-list.

Become Credit Risk Analyst –  Career progression

Most analysts begin as interns and at the junior levels immediately after gaining a graduation degree. Banks are open to a variety of subject majors in graduation. However, there need to be specific finance, banking practice, business administration and such modules in their academics to rise to the next level as an Associate.
Such positions as CR Analyst demand exhaustive and comprehensive knowledge and techniques of credit risk and management evaluation that is normally learnt on-the-job. However, doing a credit risk analyst course at Imarticus Learning will provide you with the opportunity to get certified and use the practical experience gained during the course. Many Imarticus Learning CR analyst aspirants are directly offered the Associate position at the start of their careers
It will require several years of performing well and to become a senior credit risk analyst and head of the team. From there on you could progress to the VP level, the Director level and even the CFO or MD levels depending on your performance and achievements.

Required Qualifications:
As per the 2015 BLS reports in USA 27% of the CR Analysts had a degree and employers preferred majors in economics, finance, business administration and accounting for the CR Analyst posts.

Other skills and qualifications:
CR analysts do not require professional licenses to practice. However professional certification like CRC-credit risk management certification from the Risk Management Association is not only a feather in your cap but places you at an advantage for better salaries and career progression. The certifying exam covers the seven core areas of credit risk management and the practical objective application of the knowledge to your working scenarios.

Job Scope and payouts:
The BLS report of 2015 in the USA claims CR analyst’s jobs will see a rise of 8 per cent in the decade starting 2016. The average salaries were in the range of 69,930 $ in the year 2016. In India, banking jobs are very prestigious and sought after as a CR Analyst job is secure, well-paid and comes with fixed hours of work.

Conclusion:
The credit risk analyst role is both financially and career-wise a rewarding prospect. Essential to the whole equation is knowledge and training at the interview, placement and on-the-job stages. Do your course at the reputed Imarticus Learning to take advantage of certification, assured placements and gain a firm footing in the credit risk field and banking industry. Hurry and enrol!

Also Read: Career Path & Qualification of Credit Risk Analyst