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Credit Analyst Jobs in Romeoville, IL (NOW HIRING)

O'Neal Industries, Inc.

Credit Analyst

Lisle, IL · On-site

Leeco Steel, a leading supplier of steel plate products across North America, is seeking a detail-oriented and proactive Credit Analyst. In this role, you will manage customer credit accounts, assess ...

New

O'Neal Industries

Credit Analyst

Lisle, IL · On-site

Leeco Steel, a leading supplier of steel plate products across North America, is seeking a detail-oriented and proactive Credit Analyst. In this role, you will manage customer credit accounts, assess ...

Leeco Steel

Credit Analyst

Lisle, IL · On-site

Leeco Steel, a leading supplier of steel plate products across North America, is seeking a detail-oriented and proactive Credit Analyst. In this role, you will manage customer credit accounts, assess ...

New

Leeco Steel

Credit Analyst

Lisle, IL · On-site

Leeco Steel, a leading supplier of steel plate products across North America, is seeking a detail-oriented and proactive Credit Analyst. In this role, you will manage customer credit accounts, assess ...

INEOS Styrolution

Senior Credit Analyst

Naperville, IL · On-site

We are seeking a Senior Credit Risk Analyst to play a central role in managing customer credit risk within a dynamic, international business environment. This is a hands-on role with meaningful ...

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All JobsCredit Analyst JobsCredit Analyst Jobs in Romeoville, IL

Credit Analyst information

See Romeoville, IL salary details

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How much do credit analyst jobs pay per hour?

As of Jul 26, 2026, the average hourly pay for credit analyst in Romeoville, IL is $30.51, according to ZipRecruiter salary data. Most workers in this role earn between $23.51 and $34.33 per hour, depending on experience, location, and employer.

Will AI replace credit analyst?

AI can automate routine tasks such as data analysis and credit scoring for credit analysts, increasing efficiency. However, the role of a credit analyst also involves judgment, relationship management, and understanding complex financial situations, which are less easily replaced by AI. Therefore, AI is more likely to augment rather than fully replace credit analysts in the near future.

What qualifications do you need to be a credit analyst?

To become a credit analyst, candidates typically need a bachelor's degree in finance, accounting, economics, or a related field. Strong analytical skills, proficiency with financial analysis tools, and knowledge of credit reporting are also important; some roles may require relevant certifications such as the CFA or credit-specific training.

What is the difference between Credit Analyst vs Loan Officer?

AspectCredit AnalystLoan Officer
Required CredentialsBachelor's degree in finance, accounting, or related field; certifications like CFA or credit analysis coursesBachelor's degree in finance, business, or related; often requires mortgage or loan origination licenses
Work EnvironmentOffice setting, analyzing financial data, assessing creditworthinessOffice or branch, meeting clients, processing loan applications
Employer & Industry UsageBanks, credit unions, financial institutionsBanks, mortgage companies, credit unions

While both roles involve financial assessment, a Credit Analyst primarily evaluates credit data to determine risk, whereas a Loan Officer interacts directly with clients to approve and process loan applications. Understanding these differences helps in choosing the right career path or job search focus.

What exactly does a credit analyst do?

A credit analyst evaluates the creditworthiness of individuals or businesses by analyzing financial statements, credit reports, and other relevant data. They assess the risk of lending money or extending credit, often using financial modeling and tools like spreadsheets, to help organizations make informed lending decisions. Strong analytical skills and knowledge of credit policies are essential for this role.

What are the key skills and qualifications needed to thrive as a Credit Analyst, and why are they important?

To thrive as a Credit Analyst, you need strong analytical skills, financial acumen, and typically a degree in finance, accounting, or a related field. Proficiency in financial modeling, Microsoft Excel, and experience with credit risk assessment software such as Moody’s or S&P Global Market Intelligence are highly valued. Excellent attention to detail, effective communication, and sound judgment are essential soft skills for assessing clients and presenting findings. These abilities ensure accurate credit evaluations, mitigate risk, and support informed lending decisions.

What are the typical challenges a Credit Analyst faces when evaluating complex loan applications?

Credit Analysts often encounter challenges such as incomplete financial information, inconsistent documentation, and the need to assess risk in rapidly changing market conditions. Evaluating applicants from diverse industries may require specialized knowledge to accurately interpret financial statements and cash flow projections. Strong analytical skills and effective communication with both clients and internal stakeholders are essential to resolve ambiguities and ensure sound credit decisions.

What does a Credit Analyst do?

A Credit Analyst evaluates the creditworthiness of individuals or businesses applying for loans or credit. They review financial statements, credit reports, and economic conditions to assess the risk of lending money. Based on their analysis, they make recommendations to approve or deny credit applications and may suggest terms for repayment. Their work helps financial institutions minimize losses and make informed lending decisions.

Are credit analysts paid well?

Credit analysts typically earn competitive salaries that vary based on experience, location, and industry. According to industry data, the median annual wage for credit analysts is around $70,000, with higher earnings possible for those with advanced certifications or in senior roles. The profession often offers opportunities for bonuses and career advancement.

What Does a Credit Analyst Do?

As a credit analyst, you evaluate customer credit history to determine the risk level for giving out loans or lines of credit to clients. You’ll use statistical software to help you decide which clients are eligible for loans and which ones aren’t. Your job duties include analyzing your clients’ financial statements and credit history, establishing credit limits, informing clients of payment policies, and resolving disputes. Your decisions impact whether the bank or financial institution you work for makes money or loses money, so your responsibilities make you a crucial part of the team.

More about Credit Analyst jobs
What are the most commonly searched types of Credit Analyst jobs in Romeoville, IL? The most popular types of Credit Analyst jobs in Romeoville, IL are:
What are popular job titles related to Credit Analyst jobs in Romeoville, IL? For Credit Analyst jobs in Romeoville, IL, the most frequently searched job titles are:
What job categories do people searching Credit Analyst jobs in Romeoville, IL look for? The top searched job categories for Credit Analyst jobs in Romeoville, IL are:
What cities near Romeoville, IL are hiring for Credit Analyst jobs? Cities near Romeoville, IL with the most Credit Analyst job openings:
Credit Analyst jobs near you
Infographic showing various Credit Analyst job openings in Romeoville, IL as of July 2026, with employment types broken down into 91% Full Time, 5% Part Time, 1% Temporary, and 3% Contract. Highlights an 82% Physical, 8% Hybrid, and 10% Remote job distribution, with an average salary of $63,463 per year, or $30.5 per hour.
Credit Analyst

Credit Analyst

MIDLAND FEDERAL SAVINGS AND LOAN ASSOCIATION

Bridgeview, IL • Hybrid

$75K - $85K/yr

Full-time

Posted 11 days ago

Job description

Job Title

Credit Analyst – Federal Bank

Position Overview

The Credit Analyst supports prudent lending and risk management activities within a federal banking environment. This role focuses on evaluating the creditworthiness of individuals, businesses, and/or public-sector entities; analyzing financial and non-financial risks; and preparing well-documented recommendations that align with federal banking regulations, internal policies, and risk appetite.

Key Responsibilities

Credit Assessment & Underwriting

  • Analyze borrower financial statements, tax returns, bank statements, and other supporting documentation.
  • Evaluate key financial ratios, cash flow, leverage, liquidity, and profitability metrics.
  • Assess collateral adequacy and loan structure (terms, amortization, repayment sources).
  • Prepare detailed credit memoranda for new and existing credit requests with clear recommendations.
  • Recommend appropriate credit limits, pricing, covenants, guarantees, and other risk mitigants.
  • Ensure all analyses and recommendations comply with applicable federal banking regulations and internal credit policies.

Risk Analysis, Monitoring & Portfolio Management

  • Monitor the performance and risk profile of assigned credit relationships and portfolios.
  • Identify early warning signs of credit deterioration and propose appropriate actions.
  • Conduct periodic reviews and renewals of existing credit facilities.
  • Maintain accurate borrower risk ratings and update them promptly when conditions change.
  • Contribute to portfolio-level analyses, including concentration risk, stress testing, and scenario analysis.

Regulatory Compliance & Documentation

  • Maintain credit files in accordance with federal banking standards, internal policies, and audit requirements.
  • Support the preparation of materials and responses for internal audits, regulatory examinations, and internal reviews.
  • Ensure adherence to KYC/AML, OFAC, and other relevant compliance requirements in the credit process.
  • Document credit decisions, conditions, and ongoing monitoring expectations in a clear and auditable manner.

Research & Due Diligence

  • Conduct industry, sector, and regional economic research to assess external risks affecting borrowers.
  • Analyze business models, management quality, competitive positioning, and other qualitative risk factors.
  • Verify financial and legal information through internal systems, public records, and third-party sources as required.

Collaboration & Communication

  • Work closely with relationship managers, loan officers, risk management, and compliance teams to structure and review transactions.
  • Present credit analyses and recommendations to credit committees and management, as appropriate.
  • Communicate credit decisions, conditions, and ongoing monitoring requirements clearly and professionally to internal stakeholders.

Qualifications

Education

  • Bachelor’s degree in Finance, Accounting, Economics, Business Administration, or a related field.
  • Preferred: Advanced coursework or certification in credit risk, banking, or public-sector finance.

Experience

  • For mid-level roles: 2–4 years of experience in credit analysis, commercial lending, or related roles within a bank or financial institution.
  • Experience in a regulated banking environment (federal or similar) is strongly preferred.
  • Entry-level roles may accept internship or rotational program experience in lieu of full-time credit experience.

Technical Skills

  • Strong understanding of financial statement analysis and cash flow modeling.
  • Proficiency with Excel and financial analysis tools; experience with core banking and credit systems is a plus.
  • Solid knowledge of credit risk principles, lending products, and collateral evaluation.
  • Familiarity with federal banking regulations and compliance requirements (e.g., safety and soundness standards, KYC/AML basics, and other regulatory guidance relevant to credit).

Competencies / Soft Skills

  • Strong analytical and critical-thinking skills with sound judgment.
  • Excellent written and verbal communication, especially in drafting credit memos and presenting findings.
  • High degree of accuracy and attention to detail.
  • Ability to manage multiple priorities and meet time-sensitive deadlines.
  • Demonstrated integrity, discretion, and commitment to regulatory compliance.
  • Ability to work effectively in a team-oriented, risk-conscious environment.

Work Environment & Reporting

  • Typically reports to a Senior Credit Officer, Credit Manager, or Risk Management Lead.
  • Office or hybrid environment, with regular interaction with relationship managers, risk, compliance, and senior management.
  • May be assigned to specific sectors (e.g., commercial, small business, public sector) depending on department structure.