International credit analysts establish credit limits.
International credit analysts are usually employed by organizations that offer credit, like banks, large corporations, and credit card providers; they are required in many industries, from banking to construction, and handle both small and large accounts. The analyst is responsible for analyzing credit and risk and ensuring that client accounts are repaid in full.
Review Client Accounts
One of the main duties of an international credit analyst is to review the credit of new and existing customers. He will evaluate factors like payment history, tax information, credit reports, income, and financial history. With clients in other countries, the analyst must interpret documents that follow a different system of reporting. The analyst then measures that information against the company's credit requirements and develops a credit profile. Using the profile, the international credit analyst establishes lending limits, payment schedules, and terms of the transaction.
Understand International Finance
Because an international credit analyst works with clients around the world, he or she must have a thorough understanding of the financial structure of clients' home countries. The analyst must be aware of laws that apply to international transactions and ensure that transfers and credit accounts are legal for the company and for the lender. Because international finance can be a rapidly-shifting area, a credit analyst must stay abreast of changes in policy, taxes, and business.
Monitor Client Accounts
The international credit analyst is generally responsible for a specific group of client accounts. Each fiscal year, he must monitor the group of clients, interpret financial statements and documents, and ensure the health of each account. This may involve a certain amount of travel if clients are in multiple countries.
Know the Market
Companies that offer credit to international customers are in steep competition with each other. The job of the international credit analyst includes gaining a thorough understanding of the market in order to create limits and interest rates that will be competitive. He or she must monitor the activities and deals made by competitors, read trade papers, and be prepared to react quickly.
Handle Delinquent Accounts
In cases where a client is unable to make regular payments or defaults on their credit account, the international credit analyst must take steps to settle the account. This may include working with the client to set up a payment plan or pursuing more aggressive collection efforts.
Maintain Technical Language
Because international credit analysts often work with clients in other countries, they must have a high level of fluency in the language of those countries. Often, an analyst focuses on one region with a common language. In addition to basic language fluency, the analyst must be familiar with technical language related to financial transactions in order to understand nuances of speech during interviews and credit reviews.
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