What the work is
A credit specialist works in a bank or microfinance organisation and decides, with the credit committee, who gets a loan and on what terms. They advise clients, collect documents, analyse income and credit history, assess collateral and risks, write up an opinion on the application and, after the loan is issued, follow it and handle arrears.
A typical day
Meetings with clients: an individual wants a car loan, an entrepreneur a loan for equipment. Checking documents and working out ability to repay. A visit to inspect collateral. Preparing an opinion for the credit committee. Calls to borrowers whose payment is due or overdue.
How to start
- Learn the basics of finance, accounting and analysing a small business’s financial statements.
- Understand banking products and anti-money-laundering requirements.
- Build your people skills and attention to documents.
- Start as a bank teller or client service specialist.
Related professions
Financial analyst, bank teller, accountant, sales representative.