$115,304
Avg. Salary
Avg. Hourly Rate

Average additional compensation:

$17,342

Bonus

$7,500

Profit Sharing

What am I worth?
How should I pay?

The average pay for a Senior Credit Officer with Risk Management / Risk Control skills is {{pay}} per hour.

The average pay for a Senior Credit Officer with Risk Management / Risk Control skills is $115,304 per year.

10%
$0.00
10%
$0.00
50%
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90%
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MEDIAN $0.00
10%
$73k
10%
$115k
50%
$166k
90%
90%
MEDIAN $115,304
$73,012 - $165,953
$73K
$120K
$170K
MEDIAN: $115,304
10%
50%
90%

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$0$197K
Salary $73,012 - $165,953
Bonus $4,069 - $45,000
Profit Sharing $1,973 - $39,732
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).
)
$75,708 - $197,362
  • Country: United States
  • Currency: USD
  • Updated: 11 May 2019
  • Individuals Reporting: 132

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.

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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.

Senior Credit Officer Job Listings

Pay by Experience Level for Senior Credit Officer

Pay by Experience for a Senior Credit Officer has a positive trend. An entry-level Senior Credit Officer with less than 5 years of experience can expect to earn an average total compensation of $94,000 based on 8 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Credit Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $103,000 based on 17 salaries. An experienced Senior Credit Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $141,000 based on 40 salaries. A Senior Credit Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $170,000 based on 38 salaries.

Key Stats for Senior Credit Officer

Gender

Female
27 %
Male
73 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 26 votes.
1-4 years
8%
5-9 years
14%
10-19 years
40%
20 years or more
38%

Experience Affects Senior Credit Officer Salaries

Late-Career
▲34%

Experienced
▲11%

National Average
$127,000

Mid-Career
▼19%

Entry-Level
▼26%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 26 votes.

Gender

Female
27 %
Male
73 %

Years of Experience

1-4 years
8%
5-9 years
14%
10-19 years
40%
20 years or more
38%

Common Health Benefits

medical benefits
Medical: 97%
dental benefits
Dental: 91%
vision benefits
Vision: 75%
no benefits
None: 2%