A risk analyst plays a vital role in the banking and loans sector in assessing the risks associated with credit agreements and predicts if a borrower is able and likely to pay back a loan or to default on payments.
The role of the risk analyst is to use a combination of probability and statistics in order to assess financial data from a financial organization’s customer base to predict the likelihood of whether a new and similar client will keep up with their loan repayments. The job holder is expected to devise new scoring systems in order to gauge whether a client or business is deemed credit worthy, as well as to ensure that the systems remain accurate and useful.
The job holder is expected to possess a bachelor’s degree in finance, statistics, economics, mathematics or a related field. For progression within the field, many organizations require a master’s or doctorate in the field.
The average salary for this role is around C
$50,000.