I am offered an entry level credit analyst position at a leading bank, I hope you could tell me about the credit analysis field, its pros and cons, and how CFA relates to it ? and if there are some guys with a similar positions on this forum, I would be grateful if they give me a description of their jobs and what would they do to advance themselves in such a career path??

with all appreciation to your contributions .....

FRM/PRM go more into credit risk, in the sense of premiums for risky bonds, default modelling etc.

If this is retail credit (eg does mrs smith get the $500 loan to buy the 1979 oldsmobile cutlass), I personally wouldn't touch it.

On the plus side, it gets you through the door and maybe switch once you're in.

i am a credit analyst @ MIBank, Egypt
as a financial analyst in a bank u do the following:
-perform an analysis for the co. financials carefully
-qualitative issues are so important
-visit clients from time to another, make sure everthing goes ok
-understand the industry u r working in, and make such analysis for its factors & peer companies. it's very very crucial to do so. (most banks divide its teams between sectors)
-main target is to lend the good co. the suitable package it needs, either short-term or long-term with good terms & conditions, which is mainly according to its CF projections and future plans & asset conversion cycle needs.
-other products like L/Gs , L/Cs, can be offered to facilitate the operations
-main issue is the capabilities of the cashflow paying back whatever borrowed
-keep a close eye on the client to be ready to provide solutions whenever needed

some banks provide a "credit course" for newcomers, like our did with me

wish u good luck

Amr