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Credit analysts need to train, too

Mary Ellen Biery
Posted by Mary Ellen Biery
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As you watched the Super Bowl or any other sport or activity requiring great skill, you probably focused more on the action and strategy, as opposed to thinking much about all of the hard work and preparation the athletes put into being ready for the big event.

However, it’s clear that anyone who wants to be competent at what they do, much less exceptional, must put in time and effort into learning and practicing so they can reach that goal.

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It’s the same with learning and development in your financial services career. Instruction and training is important in order to advance your skills as a credit analyst. Understanding changes in the financial institution’s lending policies, being able to identify potential risks of a credit, and knowing how to provide meaningful credit analysis are all key to helping the institution drive growth and manage risk.

Too busy for credit analyst training?

Too often, however, daily deadlines take precedence over personal and professional growth. A short supply of credit analysts, particularly among smaller institutions, might leave credit analysts so busy with ongoing work demands that they don’t have time to look for training that interests them, much less take time away from the desk to attend.

In addition, some financial institutions cut back on training budgets after the financial crisis, making it less likely for managers to offer up the kind of professional development they might have in past years.

Abrigo, the leading technology provider of compliance, credit risk, and lending solutions for community financial institutions, has created hundreds of educational resources to give financial institutions more tools to succeed in this environment. One such resource, Abrigo’s 2019 Credit Analysis User Group meetings, can help credit analysts get the most out of Sageworks Credit Analysis, which allows financial institutions to quickly spread and analyze proposed loans and make smarter credit decisions.

One-day training teaches best practices

These one-day User Group meetings provide additional training to bankers who have regularly used the Sageworks Credit Analysis solution for at least three to six months. The User Groups will allow them to achieve intermediate-level competency with the solution, and they are appropriate for Sageworks Credit Analysis users even if they have attended a User Group meeting in the past. Participants will work through a complex borrower structure, learn best practices for intermediate credit entry topics, and interact with Abrigo’s product experts as well as banking industry peers.

“We will be digging deep into the mechanics of Sageworks Credit Analysis – from best practices on data entry to different ways to use the standard report,” said Alison Trapp, Director of Client Education at Abrigo. “The day is designed to provide users an interactive experience to enhance their skills within the Credit Analysis product.”

Registration recently opened for the 2019 Credit Analysis User Groups, which will be hosted in five locations between March and October. Space is limited to 24 attendees per event, due to the interactive, hands-on approach of the User Groups. Discounts are available for institutions that send multiple bankers.

The Credit Analysis User Group dates and locations are:

• March 7: Dallas, Texas
• May 2: Washington D.C.
• June 13: Indianapolis, Indiana
• July 23: Raleigh, N.C.
• Oct. 24: Los Angeles, Calif.

More than 110 bankers attended the User Group meetings in 2018, and has been the case in previous years, the ability to network with banking peers was noted as one of the most valuable parts of the day for many attendees last year.

Learn more and register for the 2019 Credit Analysis User Groups.

tags: credit analysis, user groups