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Credit Risk Analyst Jobs in Michigan (NOW HIRING)

Deloitte

Financial Risk Manager

Detroit, MI · On-site

Credit Risk, Liquidity Risk, Market Risk, Capital Management/Stress Testing * Knowledge of ... Hands-on ability to analyze/model data using common languages/tools (Python, R, SAS, SQL)

County National Bank

Credit Analyst I

Jackson, MI

... flow analysis, and risk assessments. * Assists in underwriting commercial credit requests in ... accordance with bank policy and regulatory requirements. * Maintains accurate and completes files ...

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All JobsCredit Risk Analyst JobsCredit Risk Analyst Jobs in Michigan

Credit Risk Analyst information

See Michigan salary details

$32.2K

$99.3K

$172.1K

How much do credit risk analyst jobs pay per year?

As of Jul 20, 2026, the average yearly pay for credit risk analyst in Michigan is $99,258.00, according to ZipRecruiter salary data. Most workers in this role earn between $71,900.00 and $122,500.00 per year, depending on experience, location, and employer.

What are some common challenges faced by Credit Risk Analysts when assessing new clients or loan applications?

Credit Risk Analysts often encounter challenges such as limited financial data, rapidly changing market conditions, and the need to balance risk with business growth objectives. They must carefully analyze incomplete or inconsistent client information while ensuring compliance with regulatory requirements. Collaborating with relationship managers and other departments is essential to gather additional insights and make informed recommendations, making strong communication and analytical skills crucial in overcoming these challenges.

What does a Credit Risk Analyst do?

A Credit Risk Analyst assesses the creditworthiness of individuals or organizations by analyzing financial data, credit reports, and economic conditions. Their main goal is to determine the likelihood that a borrower will default on their financial obligations. They use statistical models, risk assessment tools, and industry knowledge to evaluate risk and help lenders make informed lending decisions. Credit Risk Analysts often prepare reports, recommend risk mitigation strategies, and monitor existing credit portfolios for potential risks.

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

To thrive as a Credit Risk Analyst, you need strong analytical skills, a solid understanding of financial principles, and typically a degree in finance, economics, or a related field. Familiarity with risk assessment tools, statistical software (such as SAS or R), and financial modeling systems is often required, along with relevant certifications like FRM or CFA being advantageous. Attention to detail, effective communication, and sound judgment are essential soft skills for presenting findings and collaborating with stakeholders. These competencies are crucial for accurately assessing creditworthiness, minimizing financial risk, and supporting informed lending decisions.

How much does a Credit Risk Analyst make?

The average salary for a Credit Risk Analyst is approximately $70,000 to $90,000 annually, depending on experience, location, and the company's size. Entry-level positions may start lower, while experienced analysts or those with specialized skills can earn higher compensation, often supplemented with bonuses and benefits.

What Does a Credit Risk Analyst Do?

A credit risk analyst evaluates the creditworthiness of individuals or businesses seeking loans or credit cards. As a credit risk analyst, you must be systematic and thorough in examining each applicant’s financial information to provide a recommendation of whether or not your employer should grant credit to the applicant. Essentially, you are evaluating the risk to reward ratio of each loan applicant. Your job duties include the analysis of credit scores and credit reports, payment history, bank statements, and other financial statements. Depending on the scope of your job, you may collect this information directly from clients and inform them if the institution can approve or deny their credit or loan application.

Will a credit analyst be replaced by AI?

Credit risk analysts perform tasks such as evaluating creditworthiness and analyzing financial data, which involve judgment and interpretation that AI currently cannot fully replicate. While AI tools can assist with data processing and risk modeling, human analysts are still essential for complex decision-making and nuanced assessments. The role is evolving to include managing AI outputs and maintaining oversight of automated systems.

Does credit risk pay well?

Credit risk analysts typically earn competitive salaries that vary by experience, location, and industry. Entry-level positions may start lower, but with experience and certifications like CFA or FRM, salaries can increase significantly, often reaching above the national average for financial roles.

What is the difference between Credit Risk Analyst vs Credit Analyst?

AspectCredit Risk AnalystCredit Analyst
Primary FocusAssessing the risk of default on loans and credit productsEvaluating creditworthiness of individual or business applicants
Required CredentialsTypically a degree in finance, economics, or related field; certifications like CFA or credit-specific coursesSimilar credentials; often the same certifications or degrees
Work EnvironmentFinancial institutions, risk management departmentsBanks, lending institutions, credit departments
Industry UsageCommonly used in risk assessment and managementPrimarily in lending and credit evaluation

While both roles involve evaluating credit, a Credit Risk Analyst focuses on assessing the overall risk associated with credit portfolios, whereas a Credit Analyst evaluates individual credit applications. The roles often overlap in credentials and work environment, but their specific focus differs within the credit industry.

What do credit risk analysts do?

Credit risk analysts evaluate the creditworthiness of individuals or organizations to determine the likelihood of default on loans or credit agreements. They analyze financial data, credit reports, and market conditions using tools like spreadsheets and credit scoring models to assess risk and support lending decisions.
More about Credit Risk Analyst jobs
What are the most commonly searched types of Credit Risk Analyst jobs in Michigan? The most popular types of Credit Risk Analyst jobs in Michigan are:
What are popular job titles related to Credit Risk Analyst jobs in Michigan? For Credit Risk Analyst jobs in Michigan, the most frequently searched job titles are:
What job categories do people searching Credit Risk Analyst jobs in Michigan look for? The top searched job categories for Credit Risk Analyst jobs in Michigan are:
What cities in Michigan are hiring for Credit Risk Analyst jobs? Cities in Michigan with the most Credit Risk Analyst job openings:
What are popular job titles related to Credit Risk Analyst jobs in MI? For Credit Risk Analyst jobs in MI, the most frequently searched job titles are:
Credit Risk Analyst jobs near you
Infographic showing various Credit Risk Analyst job openings in Michigan as of July 2026, with employment types broken down into 1% Locum Tenens, 1% Internship, 84% Full Time, 8% Part Time, 1% Temporary, and 5% Contract. Highlights an 82% Physical, 5% Hybrid, and 13% Remote job distribution, with an average salary of $99,258 per year, or $47.7 per hour.

CREDIT ANALYST

Southern Michigan Bank and Trust

Coldwater, MI • On-site

Full-time

Re-posted 25 days ago

Job description

Job Type
Full-time
Description
SUMMARY:
This position evaluates the credit worthiness of commercial loan customers. The Credit Analyst is responsible for contributing to the loan decision-making process, providing in-depth credit analysis of new and existing customers for the bank. A credit analyst must be able to effectively report results and decisions orally and in writing. They must also be able to work on multiple credits at the same time and prioritize them properly. All other duties and responsibilities as assigned.
ESSENTIAL DUTIES, RESPONSIBILITIES, SKILLS:
  • Spread and analyze financial information for new and existing borrower relationships, evaluating the financial health of the borrower(s)
  • Prepare presentations of proposed loans, including objective recommendations regarding the credit worthiness
  • Prepare annual reviews and credit memos
  • Understand and communicate the degree of risk involved in extending credit by developing and evaluating primary, secondary and tertiary sources of repayment in addition to understanding liquidity and leverage of the borrower
  • Assist with bank audits
  • Assist in maintaining loan files for adequate and current financial information and documentation
  • Assist with floor plan audits
  • Effectively communicate with members of the credit team, loan officers and others as required
  • Assist in the generation of departmental reports as assigned
  • Assist with credit or loan administration areas as needed
  • Log, image & file credit related documents as necessary

SUPERVISORY RESPONSIBILITIES:
None
Requirements
QUALIFICATION REQUIREMENTS:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily and maintain confidentiality and professionalism. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE:
  • Bachelor's degree from four-year college or university or one to two years related experience and/or training.
  • Having a basic understanding of accounting principles and concepts is recommended.
  • Through education or work experience have a basic understanding of the Bank's loan products and loan policies along with a basic understanding of banking laws and regulations as well as industry standards.
  • Basic computer skills including Microsoft Word, Excel, and database knowledge.
  • Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
  • Ability to write reports, business correspondence, and procedure manuals
  • Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
  • Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
  • Ability to work with mathematical concepts such as probability and statistical inference.

INTERPERSONAL SKILLS:
This position is required to deal with internal as well as external customers, in a positive, "Quality Customer Service" manner. An open, willing to assist approach to work is expected along with the ability to work beyond their normal job duties as the situation requires. Interpersonal and problem-solving skills are required. This position will have access to highly confidential information that must be handled in a professional manner.
PHYSICAL DEMANDS:
While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to sit; use hands to finger, handle or feel; and reach with hands and arms. The employee is occasionally required to stand; walk; climb or balance; stop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 15 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance, color vision, depth perception and ability to adjust focus.
REASONING ABILITY:
Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form.
WORK ENVIROMENT:
The noise level in the work environment is usually quiet.

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