risks, and to confirm that yield is appropriate given risk; this task is both upfront and on a monitoring basis thereafter. The focus is on current and forecasted debt- and liquidity ratios generally, and specifically those related to any loan covenants, such as DSCR and LTVR. In retail banking, credit analysts build models to determine an applicant's creditworthiness, assign an initial credit score, and monitor this and the loan on the basis of an ongoing "behavioral" score. In the latter two roles, impairment- and provision-modelling are a prominent deliverable (see IFRS 9); the PD, EAD and LGD statistics or models are (often) provided by a separate (but dedicated) credit-quant team. Some financial analysts specialize as "accounting analysts"; they will collect industry data (mainly balance sheet, income statement and capital adequacy in banking sector), merger and acquisition history and financial news for their clients. They then typically “standardize“ the different companies' data, facilitating peer group analysis: the main objective here is to enable their clients to make better decisions about the investment across different regions. They also provide the abundance of financial ratios calculated from the data gathered from financial statements, and possibly other sources. Qualification General In general, a business-related bachelor's degree majoring in Accounting, in Finance, or in Economics is a minimum requirement for an entry or junior role. Given the nature of the work, (some) proficiency in Excel is typically a recommendation (and analysts may be expected to learn database software "on the job"); see further under Financial Modeling. With seniority, often, analysts are expected to earn an MBA, having gained 2–3 years experience in the junior role. Increasingly, it is preferred that, even to enter, analysts hold a master's degree in finance. More specific qualifications may be required additionally: In (senior) financial management roles, a professional accounting certification – the CPA, CA, CMA, or CIMA – is often a prerequisite; this, given the overlap with tax and financial reporting. Risk managers increasingly require the FRM / PRM, or an actuarial qualification such as CERA. Credit analysts in technical-roles may require these also (or at a minimum, specified math-credits); in more commercial-roles, an industry certification, such as the CBA from the NACM may be specified. In treasury management roles, analysts often hold the ACT or CTP credential. Securities and Investment banking In securities and IB roles, it is lately preferred that, similarly, even to enter, analysts earn a