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Career and Education Opportunities for Credit Analysts in Bismarck, North Dakota

If you want to be a credit analyst, the Bismarck, North Dakota area offers many opportunities both for education and employment. The national trend for credit analysts sees this job pool growing by about 15.0% over the next eight years. Credit analysts generally analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.

The income of a credit analyst is about $30 per hour or $62,410 yearly on average in North Dakota. In the U.S. as a whole, their income is about $26 hourly or $55,250 yearly on average. Incomes for credit analysts are better than in the overall category of Accounting and Auditing in North Dakota, and not quite as good as the overall Accounting and Auditing category nationally. People working as credit analysts can fill a number of jobs, such as: financial analyst, credit and collections analyst, and risk analyst.

The Bismarck area is home to six schools of higher education, including one within twenty-five miles of Bismarck where you can get a degree as a credit analyst. Credit analysts usually hold a Bachelor's degree, so you can expect to spend about four years training to become a credit analyst if you already have a high school diploma.

CAREER DESCRIPTION: Credit Analyst

Credit Analyst video from the State of New Jersey Dept. of Labor and Workforce Development

In general, credit analysts analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. They also prepare reports with this credit information for use in decision-making.

Credit analysts analyze credit data and financial statements to establish the degree of risk involved in extending credit or lending money. They also compare liquidity and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations. Finally, credit analysts talk with credit associations and other business representatives to exchange credit data.

Every day, credit analysts are expected to be able to think through problems and come up with general rules. They need to articulate ideas and problems. It is also important that they deal with basic arithmetic problems.

It is important for credit analysts to generate financial ratios, using computer programs, to review customers' financial status. They are often called upon to confer with customers to deal with complaints and verify financial and credit transactions. They also ready reports that include the degree of risk involved in extending credit or lending money. They are sometimes expected to inspect individual or commercial customer files to pinpoint and decide on delinquent accounts for collection. Somewhat less frequently, credit analysts are also expected to analyze financial data such as income growth, quality of management, and market share to establish expected profitability of loans.

They also have to be able to analyze financial data such as income growth, quality of management, and market share to establish expected profitability of loans and evaluate customer records and recommend payment plans on the basis of earnings and purchase activity. And finally, they sometimes have to analyze credit data and financial statements to establish the degree of risk involved in extending credit or lending money.

Like many other jobs, credit analysts must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Bismarck include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Cost Analyst. 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.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Credit Analyst Training

University of Mary - Bismarck, ND

University of Mary, 7500 University Dr, Bismarck, ND 58504. University of Mary is a small university located in Bismarck, North Dakota. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,851 students and an admission rate of 81%. University of Mary has a bachelor's degree and a master's degree program in Accounting which graduated four and two students respectively in 2008.

LOCATION INFORMATION: Bismarck, North Dakota

Bismarck, North Dakota
Bismarck, North Dakota photo by Bobak

Bismarck is situated in Burleigh County, North Dakota. It has a population of over 60,389, which has grown by 8.7% in the past ten years. The cost of living index in Bismarck, 81, is well below the national average. New single-family homes in Bismarck are valued at $168,700 on average, which is below the state average. In 2008, two hundred fifty-nine new homes were built in Bismarck, down from two hundred seventy the previous year.

The top three industries for women in Bismarck are health care, educational services, and public administration. For men, it is construction, public administration, and health care. The average commute to work is about 14 minutes. More than 29.4% of Bismarck residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 7.7%, is higher than the state average.

The unemployment rate in Bismarck is 2.7%, which is less than North Dakota's average of 3.2%. About 8.4% of Bismarck's residents are below the poverty line, which is better than the state average.

The percentage of Bismarck residents that are affiliated with a religious congregation, 77.8%, is more than both the national and state average. The most common religious groups are the Catholic Church, the Evangelical Lutheran Church in America and the United Methodist Church.

Bismarck is home to Pioneer Park and Riverside Park. Shopping malls in the area include Kirkwood Plaza Shopping Center, Northbrook Shopping Center and Gateway Mall. Visitors to Bismarck can choose from Americinn Lodge & Suites, Super 8 of Bismarck and Ramada Inn for temporary stays in the area.