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re: Advice on Commercial Banking Analyst Program job hunt
Posted on 2/2/15 at 3:22 pm to ZereauxSum
Posted on 2/2/15 at 3:22 pm to ZereauxSum
quote:i'm not really all that familiar with what I am qualified for and what I should apply to. I talked with someone who is a friend of a friend, don't really know him that well, but he told me to look for a commercial banking analyst program at a major bank, as that is best for future career advancement. I don't have any internship experience, as I didn't go finance til grad school and also didn't really have time with military obligations. I was told that being a veteran would help me out and cover that area
Also, don't just limit yourself to big banks. Some regional and even large community banks have formal credit training programs.
Not sure if this is still true, but often you can get a job as an admin and if you are young/work hard/get to know the right people, you can get a role as a credit analyst.
1
Posted on 2/2/15 at 3:32 pm to Fearthehat0307
Really what you want is a position that says something like "credit analyst", commercial lending training program, or something like this.
The title isn't as important as what you'll actually be doing of course. The job description should be something like "spread financial statements", put together packages for loan committee, monitor lending covenants" something like that. They usually are looking for someone with a business degree and X hours of accounting (which you likely have with an MS in finance) and a good understanding of financial statements (which you will have to demonstrate).
Just make sure you read the job descriptions carefully...all credit analysts positions aren't created equal. In my part of the bank (loss mitigation) there are "credit analysts" who basically shuffle papers all day long. Nothing wrong with that but they aren't doing anything related to lending. You don't want that type of job.
Even if you can't get an analyst position, get something in a commercial lending department, even an assistant position. Odds are that you can work your way up if the bank is large enough.
Hope this helps!
The title isn't as important as what you'll actually be doing of course. The job description should be something like "spread financial statements", put together packages for loan committee, monitor lending covenants" something like that. They usually are looking for someone with a business degree and X hours of accounting (which you likely have with an MS in finance) and a good understanding of financial statements (which you will have to demonstrate).
Just make sure you read the job descriptions carefully...all credit analysts positions aren't created equal. In my part of the bank (loss mitigation) there are "credit analysts" who basically shuffle papers all day long. Nothing wrong with that but they aren't doing anything related to lending. You don't want that type of job.
Even if you can't get an analyst position, get something in a commercial lending department, even an assistant position. Odds are that you can work your way up if the bank is large enough.
Hope this helps!
This post was edited on 2/2/15 at 3:38 pm
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