What's really behind a rise in demand for Credit Risk Officers?
Reports this week of soaring demand - and with it rising salaries - for credit risk officers may well be interpreted by some SMEs as a sign that banks are looking to become even tougher on assessing loan applications. But optimists will see it as the reverse.
"Rising demand for reputable, qualified credit risk assessors could also be a sign that banks are looking to expand their lending," said Carl Hasty, Director at Smart Currency Business. "It also demonstrates that lenders are working towards developing a more sustainable approach to lending, where risk is adequately assessed and loans priced accordingly. Analysing the credit risk of each loan application according to its individual merits, rather than a one-size-fits-all approach, should help to boost funding to successful businesses. At the same time, such a move will also serve to protect banks and the broader economy from the effects of bad debt charges caused by poor lending practices."
Hopefully this news will join recent data releases as yet another positive sign for Britain's economy. It's been well documented how a major factor contributing to the current economic malaise has been the lack of accessible funding for SMEs, which has restricted the growth ambitions of many companies and left some struggling to even meet existing orders - would the banks and or government really want to make this worse.
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