Top Credit Analyst Certification by Banker for 2021

Credit analysis is an emerging career in the financial service industry. Credit analysts test the creditworthiness of individuals or applicants for institutional loans. Having a professional certification adds value to your resume. It provides a competitive edge over uncertified individuals. 

Credit analyst certification validates your skills, knowledge, and expertise in credit analysis. It enhances your employability and credibility as a professional.

You can grab a high-paying job role. They can work for commercial, business, or corporate banks and credit rating agencies.

Credit Analyst Certification

A credit analyst course and certification validates the foundational concept in banking. Credit analysts create a basis for corporate and retail lending. They make investment decisions for project finance, commercial real estate, trade finance lending, and debt capital markets. 

If you are interested in building a professional career as a credit analyst, then certification is a must. 

List of Top Credit Analyst Certification by Banker for 2021

Some of the top credit analyst courses and certifications by the banker for 2021 are listed below:

• Credit Risk Certification (CRC) by Risk Management Association
• Professional Certificate in Credit by New York Institute of Finance
• Advanced Credit Risk Professional Certificate by New York Institute of Finance
• Certified Banking & Credit Analyst (CBCA) by Corporate Finance Institute
• Certified Credit and Risk Analyst (CCRA) by NACM
• Credit Business Associate (CBA) by NACM
• Credit Business Fellow (CBF) by NACM
• Certified Credit Executive (CCE) by NACM

Credit Risk Certification (CRC) by Risk Management Association

Certification Details:

The Credit Risk Certification (CRC) is a professional designation facilitated by the Risk Management Association (RMA). Credit risk management professionals are highly demanded in the financial services industry. They measure and manage retail, commercial, and corporate credit risk. It improves the financial stability of their clients.

To complete CRC, financial service professionals need to have at least three years of experience working with credit risk, market risk, and operational risk. Professionals must be active members of the RMA. They need to complete 45 units of education activities to obtain CRC. 

The course covers seven key concepts. They are credit risk assessment including assessing an industry's financial condition, evaluating a management team, analyzing financial statements, measuring or calculating cash flow, understanding collateral, identifying risks, and managing clients.

Five hours CRC exam consists of 120 multiple-choice. The exam fee is $495. The practice exam costs $25. The certified professionals need to recertify their certification every three years. Recertification costs $100.

The CRC exam is administered online during two testing windows. Each window is open for about two months, one in spring and one in fall. 

Professional Certificate in Credit by New York Institute of Finance

Certification Details:

Professional Certificate in Credit is one of the best overall Credit Analysis certifications available online. It is offered by The New York Institute of Finance, a financial training company owned by Pearson.

The certification provides a comprehensive understanding of credit analysts.  

The certification exam covers major credit risk analysis, financial statement analysis, cash flow, and credit derivatives. It determines creditworthiness, exposure levels, and the price of credit products. The professionals make an in-depth exploration of ratio and cash flow analysis.

The exam fee varies widely from under USD 100 to thousands of dollars. You can earn the certification by completing all courses within three years.

The candidates need 80% attendance in instructor-led courses to pass the certification exam. But online courses require only at least 70% to pass the exam. 

Advanced Credit Risk Professional Certificate by New York Institute of Finance

Certification Details:

The New York Institute of Finance offers an advanced Credit Risk Professional Certificate. The certification validates a comprehensive understanding of credit risk modeling, valuation, and credit risk management techniques. 

The applicants must have the following prerequisite knowledge:

• Intermediate MS Excel skills
• Basic fixed income arithmetic
• Elementary differential calculus
• Basic probability and statistics

The certification is recommended for credit professionals or non-entry level roles in credit risk. The certification holders learn about credit risk structuring and modeling, managing credit portfolios, capital allocations based on credit risk, credit derivatives like CDSs, CDOs, etc. 

Certified Banking & Credit Analyst (CBCA) by Corporate Finance Institute

Certification Details:

Certified Banking and Credit Analyst (CBCA) is a popular and new option for credit analyst professionals offered by the Corporate Finance Institute (CFI). 

The certification is focused on credit analysis and risk. The certification adds value to your professional resume. Recruiters can easily shortlist and hire you. 

The CBCA courses cover 5 C's of Credit, including evaluating a business, assessing drivers of business growth, cash flow analysis, business writing, and completing a credit application, building a financial model, loan security and covenants, credit administration and documentation, account monitoring, and warning signs.

To earn the Certified Banking and Credit Analyst certification, candidates must secure at least a 70% score. Applicants can take exams online at their convenience. Individuals with zero work experience can also apply for the certification exam.  

Certified Banking and Credit Analyst (CBCA) certification is considered one of the best credit certifications out there. It is because experienced bankers develop the course. And CFI itself has significant brand recognition in the financial services industry.  

The certified professionals have acquired the following skills:

• Fundamentals of Credit
• Evaluate a business plan
• Assess management
• Cash flow cycles and analysis
• Loan Security
• Loan Covenants
• Credit Administration and documentation
• Account Monitoring and warning signs 
• Complete a credit application

Certified Credit and Risk Analyst (CCRA) by NACM

Certification Details:

Certified Credit and Risk Analyst (CCRA) is offered by the National Association of Credit Management (NACM). The CCRA certification validates your ability to interpret and analyze financial statements. The certified professionals have the skills to evaluate and make recommendations about credit opportunities.

The certification exam covers three major contents. They are financial accounting, financial statement analysis, and credit and risk assessment.

The credit and risk assessment course is the final exam for the entire designation of the CCRA certification. Candidates need to take an in-person course at NACM’s national headquarters or the credit congress expo event.

Credit Business Associate (CBA)

Certification Details:

Credit Business Associate is offered by the National Association of Credit Management (NACM). CBA-certified professionals work in the credit management field. The exam validates your expert knowledge in basic financial accounting, business credit principles, and introductory financial statement analysis. 

CBA professionals need to complete three courses. They are three courses: Basic Financial Accounting, Financial Statement Analysis I, and Business Credit Principles.

The CBA exam is three hours long. It consists of 125-150 questions in true or false and multiple-choice format.

The application fee is $235 for NACM members and $470 for non-members. It covers the exam fee. The exam is administered in May, July, and November every year. Applicants must submit a resume, transcripts, and NACM Career Roadmap form. 

The application fee is $235 for NACM members and $470 for non-members. It covers the exam fee. The exam is administered in May, July, and November every year. Applicants must submit a resume, transcripts, and NACM Career Roadmap form. 

Credit Business Fellow (CBF)

Certification Details:

Credit Business Fellow is offered by the National Association of Credit Management (NACM). It is designed for professionals working in credit management.

The exam validates your expert knowledge in business law, credit law, financial statement interpretation, and credit risk assessment.

Applicants should have Credit Business Associate CBA certification to earn CBF. Professionals with at least 75 Career Roadmap points are eligible candidates for CBF certification.

Applicants must pass the exam to get certified as professionals. Also if you are wondering is project management certification right for you or not along with the reasons why you need this certification.

The exam is administered in May, July, and November every year. It is three hours long. The application and exam fee is USD 285 for NACM members and USD 570 for non-members. The retake exam cost USD 99.

To take the exam, the applicants must get approval from NACM's National Education Board.

Certified Credit Executive (CCE)

Certification Details:

Certified Credit Executive is an executive-level professional certification offered by the National Association of Credit Management (NACM). The certification validates your expert knowledge in accounting, finance, domestic and international credit concepts, management, and law.

The CCE exam is four hours long. It has two sections. One section includes short questions and essay questions. The second section includes a case study.

Each section is assigned a 50% weightage. The participants need to secure at least a 70% score to pass the exam. 

The exam is administered in May, July, and November every year. It is four hours long. The application and exam fee is USD 385 for NACM members and USD 770 for non-members. Recertification is required every three years. It costs USD 175. 

The applicants can earn the CCE certification by following one of the ways mentioned below:

• The first way requires a four-year college degree, ten years of professional credit management experience, and 125 Career Roadmap points. 
• The second way requires the CBA and CBF certifications, 125 Career Roadmap points, and submission of a resume.
• The third way requires 15 years of professional experience and 125 Career Roadmap points. 
• The fourth way requires completing the second year of the Graduate School of Credit and Financial Management program.

Conclusion

Credit analysts are highly demanded in the financial service industry. To secure your position as a credit analyst, a credit analyst certification is a must. You can get certifications from various institutions. 

You can get credit analyst courses, materials, references, study guides, and documentation online and offline. And you can give the certification exam through local testing centers or online.

Certifications are the personal investment that gives opportunities for both personal development and professional growth. 

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