$125,000
Avg. Salary
Avg. Hourly Rate

Average additional compensation:

$23,500

Bonus

$34,392

Profit Sharing

What am I worth?
How should I pay?

The average pay for a Senior Credit Officer in Chicago, Illinois is {{pay}} per hour.

The average pay for a Senior Credit Officer in Chicago, Illinois is $125,000 per year.

10%
$0.00
10%
$0.00
50%
$0.00
90%
90%
MEDIAN $0.00
10%
$95k
10%
$125k
50%
$205k
90%
90%
MEDIAN $125,000
$94,799 - $205,250
$95K
$120K
$210K
MEDIAN: $125,000
10%
50%
90%

Add this chart to your site: 640px    300px

$0$245K
Salary $94,799 - $205,250
Bonus $6,141 - $49,665
Profit Sharing $34,392
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).
)
$106,041 - $245,403
  • Country: United States
  • Currency: USD
  • Updated: 20 May 2019
  • Individuals Reporting: 13

Job Description for Senior Credit Officer

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 loans, provide quarterly analyses regarding loan and lease allowances and losses, and prepare board reports. As a supervisor, senior credit officers are required to have extensive knowledge of relevant mathematical concepts (primarily probability and statistics), as well as the ability to make effective presentations, interpret technical instructions, and ensure staff compliance with company policies. A senior credit officer also serves as a representative of their institution, often attending functions and events as part of their duties.

Read More...
Senior Credit Officer Tasks
  • 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.

About Chicago, Illinois

Cook County, Illinois
2,720,556
Male:
1,320,015 (48.5%)
Female:
1,400,541 (51.5%)
Chicago (/ʃᵻˈkɑːɡoʊ/ or /ʃᵻˈkɔːɡoʊ/), officially the City of Chicago, is the third-most populous city in the United States. With over 2.7 million residents, it is the most populous city in the state of Illinois and the Midwestern United States, and the county seat of Cook County. The Chicago metropolitan area, often referred to as Chicagoland, has nearly 10 million people and is the third-largest in the U.S. Chicago was incorporated as a city in 1837, near a portage between the Great Lakes and the Mississippi River watershed, and grew rapidly in the mid-nineteenth century. The city is an international hub for finance, commerce, industry, technology, telecommunications, and transportation: O'Hare International Airport is the second-busiest airport in the world when measured by aircraft traffic; the region also has the largest number of U.S. highways and rail road freight. In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research...
Chicago:
$50,702
Illinois:
$59,588
$985
Chicago:
$238,500
Illinois:
$180,300
6.3%

Senior Credit Officer Job Listings

Key Stats for Senior Credit Officer

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 2 votes.
5-9 years
15%
10-19 years
23%
20 years or more
62%

Skills That Affect Senior Credit Officer Salaries

National Average
$145,000

Financial Analysis
▼14%

Risk Management / Risk Control
▼14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 2 votes.

Years of Experience

5-9 years
15%
10-19 years
23%
20 years or more
62%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 100%
vision benefits
Vision: 82%
no benefits
None: