Avg. Base Salary (USD)
The average salary for a Senior Credit Officer is $114,943
What is the Pay by Experience Level for Senior Credit Officers?
An early career Senior Credit Officer with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $72,212 based on 16 salaries. A mid-career Senior Credit Officer with 5-9 years of experience earns an average total compensation of $85,122 based on 28 salaries. An experienced …Read more
What Do Senior Credit Officers Do?
A senior credit officer, sometimes referred to as the chief credit officer, is a senior manager within a financial institution such as a bank or credit union. They handle a number of tasks, including creating procedures and policies for credit and loans, implementing a system of credit analysis and quality assurance for loans, and examining files for credit assurance and collateral documentation. Senior credit officers also prepare written analyses regarding large loans, identify problematic …Read more
- Analyze financial information to determine credit quality, approve credit, and document risk factors.
- Develop and document risk mitigation standards and processes.
- Investigate and understand discrepancies, problems, and unusual situations.
- Document and report on lending relationships' status and quality.
- Direct due diligence and portfolio assessment practices, evaluating work.