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Job Definition
View MovieAnalyze current 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 this credit information for use in decision-making.
Job Zone

Job Zone Four: Considerable Preparation Needed

Most of these occupations require a four - year bachelor's degree, but some do not.

Interests
Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Investigative - Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Knowledge
Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
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.
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.
Skills
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.
Speaking - Talking to others to convey information effectively.
Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
Instructing - Teaching others how to do something.
Writing - Communicating effectively in writing as appropriate for the needs of the audience.
Learning Strategies - Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
Tasks
Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
Generate financial ratios, using computer programs, to evaluate customers' financial status.
Review individual or commercial customer files to identify and select delinquent accounts for collection.
Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
Consult with customers to resolve complaints and verify financial and credit transactions.
Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.
Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
Prepare reports that include the degree of risk involved in extending credit or lending money.
Evaluate customer records and recommend payment plans based on earnings, savings data, payment history, and purchase activity.
Confer with credit association and other business representatives to exchange credit information.
Wages

In 2008, the California average annual wage was $69,770.00.

Most people employed in this occupation were paid between $36,350.00 and $115,270.00.

Outlook

During 2006, there were approximately 8,900 people employed in this field in California. It is projected that there will be 8,900 employed in 2016. This occupation will have about 0 openings due to growth and about 340 replacement openings for approximately 340 total annual openings. This occupation .

Colleges and Training
Below are college programs that are generally associated with this occupation. To view colleges that offer these programs, click on the titles below.
Accounting - A program that prepares individuals to practice the profession of accounting and to perform related business functions. Includes instruction in accounting principles and theory, financial accounting, managerial accounting, cost accounting, budget control, tax accounting, legal aspects of accounting, auditing, reporting procedures, statement analysis, planning and consulting, business information systems, accounting research methods, professional standards and ethics, and applications to specific for-profit, public, and non-profit organizations.
Credit Management - A program that prepares individuals to perform and/or manage operations concerning personal and corporate credit, collateral, loan processing, and related financial agency communications. Includes instruction in general finance and banking principles, insurance, real estate, taxation, business law and regulations, quantitative methods, financial computer systems applications, database management, communications skills, business and office management, and professional standards and ethics.
Similar Occupations
Purchasing Agents, Except Wholesale, Retail, and Farm Products - Purchase machinery, equipment, tools, parts, supplies, or services necessary for the operation of an establishment. Purchase raw or semi-finished materials for manufacturing.
Cost Estimators - Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
Accountants - Analyze financial information and prepare financial reports to determine or maintain record of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
Assessors - Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
Financial Analysts - Conduct quantitative analyses of information affecting investment programs of public or private institutions.
Personal Financial Advisors - Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives to establish investment strategies.
Insurance Underwriters - Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Tax Preparers - Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
Notes
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