Prepare workstation including computer, phone, and necessary software installations
2
Gather necessary training materials and schedule for credit analyst
3
Welcome introductory meeting with team
4
Approval: Manager
5
Basic training on credit union's systems and software
6
Introduction to credit union's governance and methodologies
7
Understanding Credit Union's products, services, and customer profiles
8
Provide hands-on training on risk analysis techniques
9
Understanding financial statement analysis
10
Training on Credit Scoring models
11
Approval: Trainer
12
Participation in credit committee meetings for real-world exposure
13
Brush up on local, state, and federal regulations pertaining to credit unions
14
Case studies on loan portfolio management
15
Shadowing experienced credit analysts for practical experience
16
Engagement in mock credit analysis scenarios
17
Training on advanced credit risk modeling techniques
18
Understanding the Collection and Recovery Process
19
Approval: Compliance Officer
Prepare workstation including computer, phone, and necessary software installations
Set up a comfortable and efficient workstation for the credit analyst. This task ensures that the analyst has access to the necessary tools and software to perform their job effectively. By providing a well-equipped workstation, we enable the analyst to work seamlessly and increase productivity.
1
Computer
2
Phone
3
Software Installations
Gather necessary training materials and schedule for credit analyst
Collect all the required training materials and create a schedule for the credit analyst's training. This task is crucial to ensure that the analyst receives the necessary resources and guidance for their training. By organizing the training materials and schedule, we streamline the onboarding process and help the analyst quickly become familiar with their responsibilities.
Welcome introductory meeting with team
Conduct an introductory meeting with the credit analyst and the team to welcome them and provide an overview of their role. This task aims to make the analyst feel included and part of the team from the beginning. It also helps them understand their position within the organization and fosters a sense of belonging.
Approval: Manager
Will be submitted for approval:
Welcome introductory meeting with team
Will be submitted
Basic training on credit union's systems and software
Provide basic training to the credit analyst on the credit union's systems and software. This task is essential to ensure that the analyst has a solid foundation in using the necessary tools to perform their tasks. By familiarizing them with the systems and software, we equip the analyst with the knowledge and skills required to navigate and utilize these resources effectively.
1
Account Management System
2
Loan Origination Software
3
Risk Assessment Tools
Introduction to credit union's governance and methodologies
Introduce the credit analyst to the credit union's governance structure and methodologies. This task is crucial for the analyst to understand the organizational policies, decision-making processes, and the methodology behind credit analysis. By providing this knowledge, we ensure that the analyst operates within the credit union's framework and aligns their work with the organization's goals.
Understanding Credit Union's products, services, and customer profiles
Provide the credit analyst with an overview of the credit union's products, services, and customer profiles. This task enables the analyst to get acquainted with the offerings and clientele of the credit union. By understanding these aspects, the analyst can better assess creditworthiness and tailor credit solutions to meet customers' needs.
1
Personal Loans
2
Mortgages
3
Auto Loans
4
Business Loans
5
Credit Cards
1
Individuals
2
Small Businesses
3
Corporations
4
Nonprofits
5
Government Agencies
Provide hands-on training on risk analysis techniques
Provide hands-on training to the credit analyst on risk analysis techniques used in credit assessment. This task allows the analyst to gain practical experience in assessing credit risk and making informed decisions. By practicing risk analysis, we develop the analyst's skills in identifying potential risks and help them become proficient in evaluating creditworthiness.
Understanding financial statement analysis
Train the credit analyst on financial statement analysis techniques. This task equips the analyst with the ability to analyze financial statements to assess the financial health of borrowers. By understanding financial statement analysis, the analyst can evaluate creditworthiness accurately and make informed credit decisions.
Training on Credit Scoring models
Provide training to the credit analyst on Credit Scoring models used in credit assessment. This task enables the analyst to understand the methodology behind Credit Scoring and utilize these models effectively. By mastering the Credit Scoring models, the analyst can assess creditworthiness efficiently and determine appropriate credit terms.
1
FICO Score
2
VantageScore
3
TransUnion Credit Score
4
Equifax Credit Score
5
Experian Credit Score
Approval: Trainer
Will be submitted for approval:
Basic training on credit union's systems and software
Will be submitted
Participation in credit committee meetings for real-world exposure
Encourage the credit analyst to participate in credit committee meetings for real-world exposure. This task provides the analyst with the opportunity to observe and contribute to credit decision-making processes. By involving them in credit committee meetings, we enhance their understanding of credit risk evaluation and strengthen their ability to make informed recommendations.
1
Meeting Schedule
2
Agenda
3
Meeting Minutes
Brush up on local, state, and federal regulations pertaining to credit unions
Review local, state, and federal regulations pertaining to credit unions. This task ensures that the credit analyst has a clear understanding of the regulatory landscape impacting credit unions. By staying up to date with regulations, the analyst can ensure compliance and make informed credit decisions within legal boundaries.
1
Consumer Financial Protection Bureau (CFPB)
2
National Credit Union Administration (NCUA)
3
Fair Credit Reporting Act (FCRA)
4
Truth in Lending Act (TILA)
5
Equal Credit Opportunity Act (ECOA)
Case studies on loan portfolio management
Present case studies to the credit analyst on loan portfolio management. This task allows the analyst to analyze real-life scenarios and apply their credit analysis skills to assess loan portfolios. By working through case studies, we enhance the analyst's ability to identify risks, make strategic credit decisions, and manage loan portfolios effectively.
Shadowing experienced credit analysts for practical experience
Arrange for the credit analyst to shadow and learn from experienced credit analysts. This task provides the analyst with practical exposure to credit analysis in real-life scenarios. By shadowing experienced analysts, the credit analyst can observe best practices, gain insights into credit assessment techniques, and refine their skills.
Engagement in mock credit analysis scenarios
Engage the credit analyst in mock credit analysis scenarios. This task allows the analyst to practice credit assessment in a controlled environment. By analyzing mock cases, the credit analyst can refine their credit analysis skills, strengthen decision-making abilities, and receive feedback to improve their performance.
Training on advanced credit risk modeling techniques
Provide training to the credit analyst on advanced credit risk modeling techniques. This task equips the analyst with the knowledge and skills necessary to analyze complex credit risks using advanced modeling techniques. By mastering advanced credit risk modeling, the credit analyst can accurately assess creditworthiness and mitigate potential risks.
Understanding the Collection and Recovery Process
Familiarize the credit analyst with the credit union's Collection and Recovery Process. This task ensures that the analyst understands the procedures and strategies employed to handle delinquent accounts. By understanding the Collection and Recovery Process, the analyst can effectively manage credit risk and contribute to minimizing credit losses.
