Every day bank receive lot of applications for term loans, over drafts, loan against shares and properties etc., Banker before offering any loan to the above said applicants have to appraise the applicants repayment capacity based on their income, revenues and expenditure.
There are companies which takeover other companies, while doing so the taking over company has to assess the income and expenditure of the company which is been taken oven and also the consequences. How would anybody do such appraisal and assessment in the above mentioned circumstances? What are the procedures and guidelines to be followed and who does all this appraisal and assessments?
The answer is credit analyst; the credit analyst does and provides the all such appraisals and assessments of the companies and individuals. The need of credit analysts is not only in the above said situation they play very important and crucial role for a company, for example they help in financial discipline and also in forecasting the financial needs of the company.
Opportunities for Credit analysts:
Financial institutes like Banks, Insurance companies, Industrial development banks, Multinational Companies etc are offering jobs as credit analyst.
Duties and Responsibilities of Credit Analyst:
Credit analyst have to assess the financial status of companies which has applied for loan are the company which has to be taken over based on the financial information given them. And also base on the present financial situation they have plan and forecast the financial needs of the company and put forward such recommendations which enable the companies to run in profits.
Anybody who want to get settled as credit analyst they should posses qualities like quantitative aptitude skills , analytical skills, communication skills, multi tasking skills.
Salaries or Remuneration:
Somebody who is at the first level of the company i.e. trainees can are offered salary of Fifteen thousand rupees and who has experience and qualification are offered salary of more than fifteen thousand rupees per month in two years of time. They can also be designated as Research analysts, Manager Analysts etc.
Institutes offering credit analyst course:
To start career as credit analyst one should post graduate in finance and accounts like Master of financial management, Master of Business Administration in Finance. Indian Institute of Management (IIMs) and all other recognized universities are offering management finance course as two years full time course.