Credit risk jobs include credit analyst, credit risk manager, director of credit risk for a mortgage company, and vice president of credit risk. These jobs require strong analytical and leadership skills and at least a bachelor’s degree in business administration, statistics, mathematics, or economics. Work experience in banking, law, or accounting is also helpful.
Some of the different credit risk jobs include those of a credit analyst, a credit risk manager, a director of credit risk for a mortgage company, and a vice president of credit risk. These jobs may involve consumer credit card risk, landlord risk, or commercial credit risk. The amount of money at stake can range from thousands to millions of US dollars.
A credit risk analyst assesses the potential risks involved in loan proposals. Credit risk analysts are usually employed by banks, investment firms, or agencies that issue credit ratings or credit scores. In some cases, a credit risk analyst may move on to other jobs with more responsibility and pay. This often happens to credit risk analysts who work at banks and financial services companies. One of the possible paths for a credit risk analyst is to become a credit risk supervisor.
A credit risk supervisor is usually responsible for analyzing risk across an entire customer base. Duties may include monitoring multiple customers and updating credit worthiness. Supervising and motivating other employees are common duties of a credit risk supervisor. A credit risk supervisor will also need strong analytical and leadership skills.
A credit risk director for a mortgage company is yet another career available among the various types of credit risk jobs. A person in this role will be responsible for planning and supervising a team of employees who identify potential patterns related to mortgage loan defaults. This will also include implementation plans that will minimize borrowing defaults. All of this requires the ability to analyze mortgage data and make recommendations.
A vice president of credit risk is one of the highest risk jobs. A role of a vice president of credit risk may be to create various credit procedures. Reviewing and approving or denying business credit applications and advising companies on credit decisions are other typical roles. Vice President-level credit risk jobs are likely to require a lot of experience and a strong track record of success.
Generally, at least a bachelor’s degree or higher is required for many credit-risky jobs. Persons in credit risk positions may have degrees in business administration, statistics, mathematics or economics. Credit risk jobs are best suited for someone who enjoys working with numbers, has excellent communication skills, and is good at problem solving and analyzing information. Work experience or internship in banking, law or accounting can also be helpful.
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