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Creeping out of credit analysis

Psst! Those credit analysis skills might get you out of the back office – if you’re good.

Booming markets and lots of debt mean banks need relationship managers and product specialists. But, says Christine Kwan at recruiter Michael Page, relationship managers and product specialists now need to be able to do credit analysis as well. ”All the banks are recruiting. We’ve been very busy in this area in the past couple of years and it’s going to continue,” she says.

”Banks are adding new products – leveraged and structured finance, structured property and financial markets/derivatives – and they need people with strong financial and credit analysis skills to move into those areas,” adds Kwan. “There are strong career development paths for these people.”

Pay for junior credit analysts with 1 to 3 years’ experience ranges from AU$70k to AU$110k (plus discretionary bonus), says Kwan. A senior with 3 to 7 years earns AU$110k to AU$140k; associate director (8 years plus) AU$140k+ and a director AU$220k+, with bonuses of anything from 10% to 50%. “Candidates need strong technical skills, be able to look at complex transactions, as well as having knowledge of derivative products,” she says.

Oliver Garside at recruiter Hays in Melbourne says ANZ and NAB have big operational centres in Melbourne; CBA and Westpac have their main operational functions in Sydney.

Lending, he says, is still very strong in asset or equipment finance and corporate and business lending. “At levels of AU$30m to AU$100m, the lending risks to the banks are bigger, the numbers of people capable of making the decisions fewer and the salaries they command much greater,” Garside says.

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