Putting The Pieces Together – Setting Up Your Credit Risk Team

Joe Gibbs our consultant managing the role
Author: Joe Gibbs
Posting date: 4/4/2019 1:36 PM
As startups, FinTech, InsTech, and other industries shake up the status quo, it’s more important than ever for the more established institutions to break out of their comfort zones. Break out, buck up, and keep up with those leading the pack in digital transformation. Personal data, privacy regulations, and password protections are just a few of things a Credit Risk team must consider when planning their Risk Management strategies.

I spoke to Ewan Dunbar from our UK office about what businesses and candidates today need to know to stay on top of their game. Here’s what he had to say when I asked what the top three roles to consider in the industry were and how they worked together?

Top 3 Roles in a Credit Risk Team


  • Process Analyst - helps to identify, design, and monitor daily processes to ensure customer accounts are efficient and effective
  • Data Modeler – helps to segment large amounts of data into micro and macro trends using statistical analysis. This is where solid programming experience comes in such as R and Java, though SAS is still used in older organizations, it’s being used less so as new tech startups and innovators arise.
  • Decision Science Analyst – This role sets the wider parameters of the company’s goals using quantitative measures, then drills down to determine the best possible course of action.


How Do These 3 Roles Work Together?


Let’s say a customer wishes to open a bank account. The initial paperwork to be filled out and filed, entered into the system, and monitored through its lifecycle would fall to the Process Analyst. Now, the customer wishes to apply for a credit card. Here, the Data Modeler is responsible for creating a scorecard model to predict, monitor, and evaluate the customer’s ability to make timely payments. The Decision Analyst is the relationship manager who has laid out the overarching goals and following facts, variables, and other data-driven insights communicates and translates the information in a clear manner.

What Kind of Education Should I Have?


Big Data continues to drive growth in every industry and, by 2020, experts predict an estimated 2.7 million open jobs in Big Data and Analytics. Though it’s been touted from the rooftops for the last few years, there still remains an urgent need for qualified professionals with specific skill sets to fill the gap in these industries. And they’re not easy to find. 

For roles in Credit Risk, a brand name education is the name of the game. If you’re just graduating, you have a much higher chance if you come from a red brick or Ivy League background. Experience and a focus on such subjects as statistics, computer science, and mathematics are tailor-made for this industry. 

Beyond education, it’s also important that companies ensure their employees have opportunities to upskill in the areas they need most. Training pays for itself as companies invest in their employees.

One Last Piece of Advice 


Find your niche. This is not a place for generalists. Once you’ve determined your focus and become an expert in your field, you’ll always be in high demand.

If you’re looking to dig in your heels and get set up for a strong career path, we may have a role for you. Check out our latest Risk opportunities or contact one of our expert recruitment consultants to learn more. 

For our West Coast Team, call (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.  

For our Mid-West and East Coast Teams, call (212) 796 - 6070 or send an email to newyorkinfo@harnham.com


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