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re: Advice on Commercial Banking Analyst Program job hunt
Posted on 2/2/15 at 3:32 pm to Fearthehat0307
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
Posted on 2/2/15 at 3:54 pm to ZereauxSum
quote:thanks. looking up credit analyst is giving me much more job opening results.
ZereauxSum
Posted on 2/2/15 at 3:55 pm to ZereauxSum
quote:
all credit analysts positions aren't created equal.
Very true. Interviewed with Wells Fargo for a "Credit Analyst" position. It was a joke. Interviewed with the regional bank. It was a fulfilling position with 10K + higher pay. A lot of times the larger banks the job will provide a much more limited experience (co-worker used to work for BB&T and all he did was spread) while the regional banks you can gain experience in underwriting, portfolio management, etc.
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