Credit Analyst Job Description Template
Credit analysts evaluate the creditworthiness of borrowers, analyse financial statements, assign credit ratings, and recommend loan approvals or rejections. India's credit market is expanding with retail credit growing at 16% CAGR and corporate credit driven by infra spending. Banks (SBI, HDFC, ICICI), rating agencies (CRISIL, ICRA, CARE), and NBFCs need skilled analysts. Use our credit analyst job description template to attract qualified Chartered Accountant (CA), CFA, and Master of Business Administration (MBA) professionals. It covers key responsibilities, required skills, Indian education requirements, salary insights, and the selection process.
Job title:
Credit Analyst
Location:
Mumbai, Maharashtra (may involve travel for site visits)
Job type:
Full-time, Permanent
Reports to:
Credit Manager / Head of Credit
Experience:
2-5 years
Employment type:
Permanent
About the role
We are looking for analytical Credit Analysts to join our wholesale and retail credit team. You will assess financial health of borrowers, prepare credit appraisal memos, recommend internal credit ratings, and monitor portfolio performance. This role requires strong financial analysis skills, understanding of RBI Prudential Norms on Income Recognition and Asset Classification, and experience with corporate and SME lending.
About the company: - Established: 1997 - Employees: 45,000+ across corporate and retail banking, treasury, and wealth management - Industry: BFSI (Banking, Financial Services and Insurance) - Certifications: RBI regulated Scheduled Commercial Bank, ISO 27001, listed on BSE and NSE - Presence: 3,000+ branches pan-India and 8 international offices (Singapore, Dubai, London, New York) - Known for: Among top 5 Indian private sector banks by market capitalisation; strong corporate credit and mid-corporate franchise
Credit analyst roles and responsibilities
Credit analysts drive the credit assessment process for lending decisions: - Analyse financial statements (balance sheet, P&L, cash flow, notes to accounts) for corporate and SME borrowers - Calculate financial ratios - DSCR, TOL/TNW, current ratio, operating profit margin, PAT margin, and interest coverage ratio - Prepare CAM (Credit Appraisal Memorandum) with industry analysis, management assessment, and sensitivity scenarios - Assign internal credit rating using RBI-aligned risk rating models (e.g., 10-point scale for default probability estimation) - Review stock statements, book-debt reports, and Cost and Management Accountant (CMA) (Credit Monitoring Arrangement) data for working capital proposals - Visit borrower premises for stock inspection, plant assessment, and management discussion (site visits) - Monitor live portfolio for early warning signals - overdue payments, deviation in financial covenants, excess drawing power - Present credit proposals to the sanctioning committee with risk-reward analysis and condition suggestions - Track RBI IRAC norms compliance - identify NPA accounts, recommend provisioning, and submit SMA (Special Mention Account) reports - Coordinate with legal team for security documentation, charge creation on ROC (Master of Computer Applications (MCA) portal), and CERSAI registration
Credit analyst qualifications and skills - 2-5 years of credit analysis experience in a bank, NBFC, or credit rating agency in India - Strong financial statement analysis skills - ability to read and interpret balance sheets, P&L, cash flow statements, and fund flow - Proficiency in ratio analysis (DSCR, TOL/TNW, current ratio, debt-equity, ROCE) and understanding of industry benchmarks - Working knowledge of RBI Prudential Norms (IRAC norms, NPA recognition, provisioning, restructuring guidelines) - Experience with CAM preparation and credit rating models (ICRA/CRISIL/CARE equivalent internal scales) - Understanding of working capital finance - Cost and Management Accountant (CMA) data, stock/book-debt statements, margin money, and drawing power calculation - Familiarity with CIBIL, Experian, and CRIF High Mark bureau reports for retail/small business credit assessment - MS Excel proficiency - financial modelling, sensitivity analysis, and portfolio Management Information System (MIS) reporting - Knowledge of legal documentation (loan agreements, hypothecation, mortgage, charge creation on Master of Computer Applications (MCA)) - Written communication skills for drafting clear, well-structured CAMs and credit notes for committee review
Education and Experience Requirements - Degree: CA (Chartered Accountant), CFA (Chartered Financial Analyst), MBA Finance, or Master of Commerce (MCom) from a recognised institution - Minimum 55% in graduation / equivalent Cumulative Grade Point Average (CGPA) (for non-CA candidates) - Total experience: 2-5 years in credit analysis / credit risk / corporate banking - Industry experience: Wholesale credit or mid-corporate lending preferred; retail credit experience also considered - Certifications: Financial Risk Manager (FRM) or PRM is a plus; JAIIB/CAIIB for bank roles - CA freshers with articleship in banking/audit of BFSI clients are eligible for entry-level analyst roles
Credit analyst average salary
In India, Credit Analysts earn 5-14 Lakhs Per Annum (LPA) Cost to Company (CTC) depending on qualification, bank type, and experience. CA freshers in corporate credit start at 8-10 LPA, while MBA Finance analysts with 3-4 years earn 9-14 LPA. Rating agencies (CRISIL, ICRA, CARE) offer 6-12 LPA for comparable experience. Mumbai and Gurgaon command a 10% premium.
Source: Naukri Salary Index 2025-26; Randstad India BFSI Salary Trends 2025.
Benefits - CTC includes: Basic + HRA + Special Allowance + DA + Variable pay (10-15% of CTC) - Statutory: Provident Fund (PF), Employees' State Insurance Corporation (ESIC) (if applicable), Gratuity - Additional: Group medical insurance (self + spouse + 2 children), term life insurance, personal accident cover - Perks: Conveyance reimbursement, mobile reimbursement, sodexo meal passes, learning and certification sponsorship - Growth path: Credit Analyst -> Senior Credit Analyst -> Credit Manager -> Head of Credit
Other details - Probation period: 6 months - Notice period: 60 days (buyout option available after confirmation) - Immediate joiners preferred: Yes - Bond / Service agreement: None for lateral hires; 2-year bond for campus hires sponsored for FRM/CFA - Working days: 5 days (Monday to Friday) - Work mode: Work from Office (hybrid policy may apply for experienced hires) - Shifts: General shift (10 AM-7 PM); no night shifts - Relocation support: Relocation reimbursement available for inter-city movers (up to 1 month basic)
Selection process
1. Resume screening: Shortlisted based on CA/CFA/MBA qualification and credit analysis experience in BFSI
2. Case study round: 60-minute financial analysis case study with balance sheet analysis, ratio computation, and credit recommendation write-up
3. Technical interview: 45-minute interview with Credit Head covering CAM experience, IRAC norms, NPA recognition, and recent RBI circulars on credit
4. HR interview: 20-minute fitment round covering salary negotiation, notice period, and career progression
5. Background verification: Education verification, CA/CFA membership confirmation (if applicable), employment history check, CIBIL check
6. Offer rollout
How to apply - Platform: Apply through bank careers portal (e.g., careers.hdfcbank.com), Naukri, LinkedIn, or campus placement for CA freshers - Documents: Resume, CA/CFA/MBA degree certificates, mark sheets, articleship/experience letters, CA membership number, PAN card - Timeline: Rolling applications; case study and interview completed within 2 weeks - Referral: ICICI/HDFC employees can refer through the internal referral portal; include referral ID
Frequently asked questions
1. What does a Credit Analyst do in India?
A Credit Analyst evaluates borrower creditworthiness by analysing financial statements, calculating ratios, preparing Credit Appraisal Memorandums (CAMs), assigning internal ratings, and presenting proposals to sanctioning committees. They work in corporate credit teams of banks, NBFCs, or rating agencies.
2. What qualifications do I need to become a Credit Analyst in India?
CA (Chartered Accountant), CFA, or MBA Finance are the most common qualifications. A Master of Commerce (MCom) with strong financial analysis skills is also considered. FRM or PRM certification adds value. 2-5 years of credit analysis experience is required for lateral roles.
3. What is the average salary of a Credit Analyst in India?
CA freshers earn 8-10 Lakhs Per Annum (LPA). MBA Finance analysts with 3-4 years earn 9-14 LPA. Rating agencies pay 6-12 LPA for comparable roles. Mumbai and Gurgaon offer premium over other cities.
4. How can I hire the right Credit Analyst in India?
Use a financial analysis case study (balance sheet analysis and ratio computation) as part of the selection process. Verify CAM writing quality and the ability to present credit recommendations under time pressure. Prioritise candidates with experience in your lending segment (wholesale, mid-corporate, or SME).