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Credit Risk Analyst Jobs in Worcester, MA (NOW HIRING)

MutualOne Bank

Credit Analyst II

Framingham, MA · On-site

November Summary / Objective The Credit Analyst II is responsible for determining and monitoring credit risk in the commercial loan portfolio, and for assisting the AVP, Credit Team Leader with ...

Td

Credit Management Associate III (US)

Worcester, MA

$25.50 - $36/hr

... risk. The Associate works with lending and credit management personnel on customer requests to ... May assist in preparing the most basic financial analysis of less complex loans / industries ...

Dean Bank

Commercial Credit Officer

Franklin, MA · On-site

$92K - $120K/yr

This position assures that these analyses are accurate, objectively present the risk of the transaction, and address the bank's ability to be re-paid. The Commercial Credit Officer will be required ...

Dean Bank

Commercial Credit Officer

Franklin, MA · On-site

$92K - $120K/yr

This position assures that these analyses are accurate, objectively present the risk of the transaction, and address the bank's ability to be re-paid. The Commercial Credit Officer will be required ...

Dean Bank

Commercial Credit Officer

Franklin, MA

$92K - $120K/yr

This position assures that these analyses are accurate, objectively present the risk of the transaction, and address the bank's ability to be re-paid. The Commercial Credit Officer will be required ...

Middlesex Savings Bank

Senior Credit Analyst II

Natick, MA · On-site

$76K - $135K/yr

Senior Credit Analyst IIs are expected to opine on appropriate loan structure and provide a robust risk assessment in all underwriting. Independently, the Senior Credit Analyst II will be assigned ...

Cape Cod Five

Senior Credit Analyst

Leominster, MA · On-site

$31.01 - $41.10/hr

Provides independent input in the process of risk rating commercial borrowers * Mentors and assists the training of less experienced credit analysts and commercial lending trainees in statement ...

Mutual Bancorp

Senior Credit Analyst

Leominster, MA

Provides independent input in the process of risk rating commercial borrowers * Mentors and assists the training of less experienced credit analysts and commercial lending trainees in statement ...

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All JobsCredit Risk Analyst JobsCredit Risk Analyst Jobs in Worcester, MA

Credit Risk Analyst information

See Worcester, MA salary details

$36.9K

$113.5K

$196.8K

How much do credit risk analyst jobs pay per year?

As of Jul 13, 2026, the average yearly pay for credit risk analyst in Worcester, MA is $113,471.00, according to ZipRecruiter salary data. Most workers in this role earn between $82,200.00 and $140,000.00 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 popular job titles related to Credit Risk Analyst jobs in Worcester, MA? For Credit Risk Analyst jobs in Worcester, MA, the most frequently searched job titles are:
What cities near Worcester, MA are hiring for Credit Risk Analyst jobs? Cities near Worcester, MA with the most Credit Risk Analyst job openings:
Credit Risk Analyst jobs near you
Infographic showing various Credit Risk Analyst job openings in Worcester, MA as of July 2026, with employment types broken down into 93% Full Time, and 7% Part Time. Highlights an 72% In-person, 14% Hybrid, and 14% Remote job distribution, with an average salary of $113,471 per year, or $54.6 per hour.
Credit Analyst II

Credit Analyst II

MutualOne Bank

Framingham, MA • On-site

Full-time

Re-posted 6 days ago

Job description

Position Description

Title:                           Credit Analyst II

Department:              Credit Administration

Reports to:                 AVP, Credit Team Leader

Supervises:                 None

Classification:            Exempt

Date Prepared:          November

Summary / Objective

The Credit Analyst II is responsible for determining and monitoring credit risk in the commercial loan portfolio, and for assisting the AVP, Credit Team Leader with maintaining department templates and draft policy updates. With additional guidance from the AVP, Credit Team Leader and VP, Credit Officer, responsibilities include analyzing financial statements and other documentation to assess repayment capacity, collateral adequacy as well as other key analysis requirements to recommend or validate appropriate risk ratings. May also assist in projects and borrowing base review process, as needed, and reviewing real estate appraisals.

Experience & Education Requirements:

  • Bachelor’s degree in Business, Finance, Accounting or related field.
  • 2-4 years of credit and financial statement analysis experience
  • Good interpersonal, communication & computer skills

Essential Job Functions:

  • Evaluate the financial condition of individuals and businesses applying for credit with the financial institution.
  • Analyze loan data on new and existing loans and borrower relationships, including data provided by credit bureaus, other financial institutions and financial institution files.
  • Determine if loan requests meet sound underwriting standards with the guidance of the AVP, Credit Team Leader and/or VP, Credit Officer.
  • Monitor adherence to loan policies and credit risk review policies
  • Assist with reviewing borrowing bases for formula-based / non-conforming asset-based loans
  • Prepare memos and management reports to be presented to the Security Committee on a regular basis.
  • Identify credit risk situations and, with the guidance of the AVP, Credit Team Leader and/or VP, Credit Officer, provides guidelines to line of business lending managers.
  • Oversee and manage financial information files to assure current financial statements, accounts receivable and other information on customer accounts.
  • Review and updates new and existing loan files for the financial institution on an as needed basis.
  • Prepare spread sheets, reports, summaries and opinions for financial institution officers on new, renewal and existing loans.
  • Maintain knowledge of department policies and procedures through internal and external training activities
  • Work under supervision of credit management and in compliance with established policies, procedures and regulations.
  • Assist with other projects as needed, which may include assisting with implementation of a loan origination system.

Required knowledge, skills & abilities:

  • Familiarity with federal and state regulations regarding lending and related departments.
  • Strong understanding of accounting principles with ability to prepare and analyze financial statements, including working capital cycles and collateral.
  • Strong computer skills including Microsoft Word, and Excel.
  • Strong written, oral, and interpersonal skills with ability to prepare and make presentations.
  • Ability to apply critical thinking and problem-solving skills.
  • Ability to adapt to changing demands and requirements.

Physical Demands and Work Environment:

  • Ability to use standard equipment such as computers, phones, photocopiers.
  • Work involves standing and walking for brief periods of time, but most duties are performed from a seated position.
  • There is potential for eyestrain from reading detailed printouts and computer screen. Deadlines, workloads during peak periods and pressure may cause increased stress levels.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Other Duties

This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. It is expected that from time-to-time other duties, both related and unrelated to the above, may be assigned and therefore, required.

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