Senior Vice President (SVP), Commercial Lending Salary
Job Description for Senior Vice President (SVP), Commercial Lending
Commercial lending senior vice presidents (SVPs) are generally responsible for developing and implementing credit risk policies and procedures for their organizations and providing reviews, identifications, and analyses of credit risks. They are also responsible for ensuring that credit limits do not exceed certain amounts on any one account.Read More...
Depending on the business in need of a credit loan, commercial lending SVPs measure and monitor the particular risks of lending credit to that business. They must have in-depth knowledge of current and approved methodologies of risk measurement, and when new products or credit opportunities arise they are tasked with displaying the new product's or service’s points and features. Depending on the employer, be it a business or bank, commercial lending SVPs may also serve as representatives of their organizations to the community.
A college degree in business is generally required for this position, and some employees move up in the ranks of an organization to assume the position of senior vice president of commercial lending. Experience in banking and general business is essential for this position, and strong interpersonal and organizational skills are also beneficial for success.
Senior Vice President (SVP), Commercial Lending Tasks
- Establish and maintain relationships with customers, develop referral networks, and identify opportunities for loan sales.
- Develop and execute loan portfolio strategies, monitor the performance of loans, and work to mitigate risks.
- Contribute to the creation and enforcement of credit policies and procedures.
- Oversee a team of loan officers structuring, writing, and closing commercial loans.
- Act as a representative of the bank in the business and local community.
Common Career Paths for Senior Vice President (SVP), Commercial Lending
Senior Vice Presidents of Commercial Lending' salaries tend to stay somewhat constant even when they advance into higher-level positions like President. On average, Presidents get paid about the same as Senior Vice Presidents of Commercial Lending do. Many Senior Vice Presidents of Commercial Lending choose to become Commercial Lenders and Commercial Loan Officers as their careers advance. However, folks in those positions report median salaries of $66K less and $77K less, respectively.
Senior Vice President (SVP), Commercial Lending Job Listings
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Popular Skills for Senior Vice President (SVP), Commercial Lending
Survey results suggest that Senior Vice Presidents of Commercial Lending put a wide range of professional skills to use. Most notably, skills in Sales, Financial Analysis, Business Development, and Customer Relationship Management (CRM) are correlated to pay that is above average. Skills that pay less than market rate include Commercial Loans and Loan Underwriting. Most people who know Financial Analysis also know Business Development and Customer Relationship Management (CRM).