A sizeable majority of Chief Credit Officers in the United States are men. In this role, average pay is around $122K annually. Most Chief Credit Officers report high levels of job satisfaction. Nearly all report receiving medical coverage from their employers and a strong majority collect dental insurance. The data for this synopsis comes from respondents who took the PayScale salary survey.

$85,939 - $183,216
(Median)
$86K
$120K
$180K
MEDIAN: $121,585
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$70K$140K$210K
Salary
$85,939 - $183,216  
   
Bonus
$4,650 - $40,406  
Profit Sharing
$18,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$87,811 - $206,520  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 123
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Job Description for Chief Credit Officer

A chief credit officer is a senior company executive whose job is to develop and manage a company's overall credit strategy. Those in this position develop credit risk strategies and oversee loan portfolios with the objective of maintaining high-quality borrowing strategies, and implementing risk-mitigation strategies, for the company.

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Chief Credit Officer Tasks

  • Ensure compliance with regulations, credit delivery systems, and reporting credit related activities.
  • Direct the credit division and oversee loan portfolios with an eye for risk management.
  • Utilize an established network of contacts to initiate, lead, and negotiate business transactions for long and short-term credit loans.
  • Provide recommendations for policy revisions and advise lending management on potential risk.

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Popular Skills for Chief Credit Officer


Chief Credit Officers usually report a few specific skills. Most notably, skills in Risk Management / Risk Control, Credit Control, Financial Analysis, and Loan Underwriting are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include People Management, Loan Underwriting, and Financial Analysis. Those proficient in Credit Control are, more often than not, also skilled in Risk Management / Risk Control.

Pay by Experience Level for Chief Credit Officer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience seems to be a major factor in determining the incomes of Chief Credit Officers. Salaries of relatively inexperienced workers fall in the neighborhood of $84K, but folks who have racked up five to 10 years see a notably higher median of $111K. For Chief Credit Officers, 10 to 20 years of experience on the job amounts to an average salary of $128K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $144K.

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Experience Affects Chief Credit Officer Salaries


National Average
$129,000


Mid-Career
up arrow 14%

Entry-Level
up arrow 35%

Skills That Affect Chief Credit Officer Salaries

National Average
$129,000

Risk Management / Risk Control
up arrow 1%

Credit Control
up arrow 3%

Financial Analysis
up arrow 3%

Loan Underwriting
up arrow 11%

People Management
up arrow 15%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 21 votes.

Gender

Female
9 %
Male
91 %

Years of Experience

1-4 years
5%
5-9 years
7%
10-19 years
36%
20 years or more
52%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 75%
medical benefits
Vision: 61%
dental benefits
None: 8%
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