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Working As A Credit Officer

  • Getting Information
  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Analyzing Data or Information
  • Making Decisions and Solving Problems
  • Mostly Sitting

  • $117,000

    Average Salary

What Does A Credit Officer Do At Emigrant Bank

* Underwrite, analyze and prepare presentations for SBA submission.
* Assists in negotiating loans and structuring presentations.
* Analyze the credit and collateral aspects of business and individual loans both secured and unsecured.
* Monitor loans to ensure proper documentation with respect to items such as periodic calculation of ratios and SBA requirements.
* Assist with documenting loans to ensure complete loan files are maintained.
* Work with lenders and customers on loan accounting/payment issues as needed.
* Prepare packages for obtaining SBA guaranty payment.
* Review of outstanding loans or exploration of lending alternatives for prospective customers

What Does A Credit Officer Do At The Situs Companies

* Lead all due diligence and underwriting of potential investment opportunities
* Prepare cash flow models that will be utilized to value real estate investments through DCF analysis and other valuation techniques
* Undertake transaction due diligence responsibilities including analyses of the loan structure structure, sponsor and asset-level due diligence, and other due diligence issues
* Implement procedures to identify, measure and observe credit and market risk in the portfolio
* Support capital raising initiatives including attending investor meetings and contributing to the preparation of related presentations and materials
* With respect to cultural fit, the successful candidate will be self-motivated and energized by working in a group of entrepreneurial, smart, fast-paced and successful colleagues.
* Additionally, he or she will be responsible for the management and recruitment of a team of professionals.
* They should be a strong team player and have the ability to take initiative proactively with discretion and judgment

What Does A Credit Officer Do At People's United Bank

* Chairs their respective local market committee and participates in their respective credit policy committee
* Identifies, assesses and monitors current or potential problems regarding the assessment of credit risk and the administration of loan exposures.
* Performs analytics to track, interpret and improve results within business channels in order to minimize risk and optimize earnings
* Manages all of the regulatory requirements in risk management, including the credit policy and credit authority levels
* Leads the credit policies/credit process for the portfolio, assuring that proper credit controls are in place to satisfy safety and soundness standards established by Banking regulators.
* Monitors adherence to such policies and ensures exceptions are adequately identified, justified, properly documented and approved
* Presents data/analysis to other senior managers to ensure understanding of identified risks and, where appropriate, recommends solutions and manages their implementation
* Works closely with Senior Management on the execution of the company s strategic agenda, bringing risk/reward and cost/benefit analysis to the table.
* Works closely with Senior Management on potential acquisitions, including due diligence and integration.
* Develops loss estimates for the target s loan portfolio which will factor into the bank s pricing model
* Works closely with loan officers and appraisers as well as loan review regarding a variety of broad based and complex relationship and credit risk issues requiring conceptual analysis in order to understand any potential issues
* Ensures that opportunities are afforded to staff to develop and maintain their skills at the highest standards.
* Fosters, through mentoring and leadership, critical and independent thinking skills and behaviors.
* Ensures that staff is developed and utilized as a resource pool for other areas of the organization.
* Exercises full authority concerning hiring, performance management, reviews, promotions, salary recommendations and terminations
* Adheres to compliance procedures and internal/operational risk controls, including but not limited to BSA/AML/OFAC, in accordance with any and all applicable regulatory standards, requirements, and policies
* Works closely with loan officers, branch staff, residential lending and consumer staff and appraisers as well as loan review regarding a variety of broad bases and complex relationship and credit risk issues requiring conceptual analysis in order to understand any potential issues
* Oversees weekly Modification Review Committee meetings held with credit collections, including review and approval of short sales, deed in lieu transactions, default policy exceptions as well as review and approved charge offs.
* Prepares monthly charge off forecast and review of ECAM
* Maintains working knowledge of industry trends and analysis of portfolio
* Supports Finance on allowance for loan loss and lease analysis.
* Benefits In today s highly competitive job market, People s United Bank recognizesthe need to attract, reward, and retain talented employees.
* That s why weprovide a comprehensive, competitive and innovative benefits program.
* Advanced degree or equivalent experience

What Does A Credit Officer Do At City National Bank

* Reviews loan application and financial information; evaluates and determines credit structure and terms; fully underwrites CRR consistent with Bank format, policies and procedures; determines sources and uses of funds; analyzes industry data, competitive factors, historical performance, projected results, risks, and mitigating factors.
* At the direction of and/or in concert with the Relationship Manager, contacts borrowers directly, as appropriate, for additional information and details related to loan request or clarification of financial materials and resources.
* Coordinates loan documentation including work with legal, CLC, or other outside counsel to obtain the correct, accurate documents to ensure all loan are documented to fully protect the Bank's interests in the credit relationship.
* Reviews collateral periodically to minimize credit exposure.
* Ensures that all documentation policy exceptions are cleared within the waiver period.
* Collaborates with team members by providing credit alternatives and creative ways to structure credits ensuring that transactions are within profitability and portfolio risk standards.
* Authors credit approval memorandum.
* Restructures loans and/or lines of credit as required.
* Assumes accountability for minimizing Bank losses.
* Maintains up-to-date knowledge on all Bank lending policies and regulations.
* Confers with the Team Manager and appropriate Bank personnel regarding new/existing lending requirements and regulations.
* Supports relationship management team by monitoring performance of borrowers, identifying problem credits, and taking a proactive approach toward resolution.
* Reviews risk grading on an ongoing basis to identify potential credit issues.
* Escalates potential credit issues to Credit Manager and relationship team.
* Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affirmative Action.
* Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g.
* Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc

What Does A Credit Officer Do At U.S. Bank

* Analyze the financial condition of individual borrowers.
* The analysis should result in an independent risk rating conclusion.
* Evaluate the quality of the business line’s financial analysis, portfolio management, account management, early warning practices and loan structures.
* Identify and analyze the root cause to the origin of identified issues.
* Thoroughly analyze a business line's portfolio to generate an appropriate sample and produce a project plan that accurately describes the portfolio.
* Develop insightful, accurate and independent conclusions, identify best practices and identify appropriate root causes.
* Your Career is Here

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Credit Officer Career Paths

Credit Officer
Vice President Vice President And Manager
Vice President Operation Manager
10 Yearsyrs
Vice President
Commercial Lending Vice President
11 Yearsyrs
Assistant Vice President Vice President
Vice President And Portfolio Manager
10 Yearsyrs
Credit Manager
Credit And Collection Manager
7 Yearsyrs
Credit Manager Branch Manager Relationship Manager
Senior Relationship Manager
9 Yearsyrs
Credit Manager Store Manager Branch Manager
Business Development Officer
7 Yearsyrs
Branch Manager Project Manager Portfolio Manager
Senior Portfolio Manager
10 Yearsyrs
Assistant Vice President Senior Vice President
Chief Risk Officer
9 Yearsyrs
Senior Credit Analyst Senior Finance Analyst
Manager, Finance Analysis
8 Yearsyrs
Senior Credit Analyst Account Manager Regional Sales Manager
Vice President & Sales Manager
9 Yearsyrs
Senior Credit Analyst Account Manager Relationship Manager
Business Relationship Manager
9 Yearsyrs
Manager Property Manager Portfolio Manager
Investments Manager
6 Yearsyrs
Assistant Manager Assistant Branch Manager
Bank Manager
5 Yearsyrs
Manager Production Manager Processing Manager
Underwriting Manager
8 Yearsyrs
Manager Office Manager Accounts Receivable Manager
Credit Director
11 Yearsyrs
Risk Manager
Credit Risk Management Director
10 Yearsyrs
Assistant Manager Business Manager Manager Finance Planning And Analysis
Treasury Manager
9 Yearsyrs
Underwriting Manager
Lending Services Manager
8 Yearsyrs
Assistant Branch Manager Collections Manager Credit And Collection Manager
Senior Credit Manager
5 Yearsyrs
Credit Administration Manager
7 Yearsyrs
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Do you work as a Credit Officer?

Average Yearly Salary
$117,000
Show Salaries
$77,000
Min 10%
$117,000
Median 50%
$117,000
Median 50%
$117,000
Median 50%
$117,000
Median 50%
$117,000
Median 50%
$117,000
Median 50%
$117,000
Median 50%
$177,000
Max 90%
Best Paying Company
Natixis North America
Highest Paying City
New York, NY
Highest Paying State
New York
Avg Experience Level
3.6 years
How much does a Credit Officer make at top companies?
The national average salary for a Credit Officer in the United States is $117,323 per year or $56 per hour. Those in the bottom 10 percent make under $77,000 a year, and the top 10 percent make over $177,000.

The largest raises come from changing jobs.

See what's out there.

Real Credit Officer Salaries

Job Title Company Location Start Date Salary
Cheif Credit Officer Westpac Banking Corporation Sep 15, 2012 $277,887
Global Credit Risk Officer & Worldwide Treasurer TBWA Worldwide, Inc. Jun 24, 2016 $227,178
Global Credit Risk Officer & Worldwide Treasurer TBWA Worldwide Inc. Sep 03, 2015 $220,813
Worldwide Treasurer and Credit Risk Officer TBWA Worldwide Inc. Jun 13, 2015 $220,813
Worldwide Treasurer and Credit Risk Officer TBWA Worldwide, Inc. Jun 13, 2012 $200,000
Senior Credit Officer Westpac Banking Corporation Jan 02, 2016 $188,244
Senior Credit Officer Westpac Banking Corporation Jan 03, 2014 $180,000
Chief Credit Officer Greensky Trade Credit LLC. Mar 15, 2013 $180,000
Regional Credit Officer-Latin America Division Chartis Global Services, Inc. Sep 28, 2012 $180,000
Regional Credit Officer-Latin America Division Aiu Insurance Company Oct 01, 2012 $180,000
Senior Credit Officer Westpac Banking Corporation Feb 21, 2011 $155,000
Director, Credit Officer UBS Services LLC Aug 01, 2014 $154,000 -
$170,000
Credit Officer Industrial and Commercial Bank of China Limited Jul 15, 2016 $149,136
Credit Officer JP Morgan Chase & Co Apr 10, 2016 $149,136
Credit Risk Officer Santander Bank, N.A. Jan 02, 2015 $130,000 -
$150,000
Senior Credit Officer BNP Paribas North America, Inc. Oct 01, 2010 $130,000
Director, Credit Risk Officer UBS Services LLC Aug 26, 2016 $130,000 -
$165,000
Senior Credit Risk & Research Officer SVB Financial Group Sep 22, 2016 $128,000 -
$192,000
Senior Credit Officer (VP) Sumitomo Mitsui Banking Corporation Aug 08, 2016 $126,691
Credit Officer Societe Generale Sep 17, 2011 $126,000
Credit Officer Citibank, N.A. Oct 24, 2012 $110,300
Associate Credit Officer Commerzbank AG-New York Branch Jan 10, 2016 $100,776
Credit Officer Jpmorgan Chase and Co. Sep 30, 2016 $100,000
Credit Officer Jpmorgan Chase and Co. Sep 20, 2016 $100,000
Credit Officer Earnest Inc. Oct 09, 2016 $100,000
Associate Credit Officer Commerzbank AG Nov 19, 2014 $98,800
Associate Credit Officer Commerzbank AG-New York Branch Oct 01, 2013 $98,800

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Top Skills for A Credit Officer

  1. Loan Portfolio
  2. Credit Reports
  3. Covenant Compliance
You can check out examples of real life uses of top skills on resumes here:
  • Implement appropriate credit policies and procedures that comply with regulatory requirements and result in a high-performing loan portfolio.
  • Required extensive knowledge of credit reports, credit and regulatory compliance, fraud identification, and other customer verification techniques.
  • Participate in the production of covenant compliance exceptions.
  • Monitor assigned areas through periodic checks for adherence to credit policy, regulatory guidelines and risk rating procedures.
  • Provided credit granting decisions on loan applications and administered all loan processing aspects, from credit application investigations to loan documentation.

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Top 10 Best States for Credit Officers

  1. New York
  2. North Carolina
  3. Pennsylvania
  4. Michigan
  5. New Jersey
  6. Mississippi
  7. Tennessee
  8. Connecticut
  9. Texas
  10. North Dakota
  • (274 jobs)
  • (172 jobs)
  • (232 jobs)
  • (95 jobs)
  • (171 jobs)
  • (16 jobs)
  • (100 jobs)
  • (48 jobs)
  • (299 jobs)
  • (26 jobs)

Credit Officer Resume Examples And Tips

The average resume reviewer spends between 5 to 7 seconds looking at a single resume, which leaves the average job applier with roughly six seconds to make a killer first impression. Thanks to this, a single typo or error on your resume can disqualify you right out of the gate. At Zippia, we went through over 2,190 Credit Officer resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Create A Top Notch Credit Officer Resume

View Resume Examples

Credit Officer Demographics

Gender

Male

59.2%

Female

35.3%

Unknown

5.5%
Ethnicity

White

54.1%

Hispanic or Latino

16.3%

Black or African American

11.9%

Asian

11.7%

Unknown

6.0%
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Foreign Languages Spoken

Spanish

31.9%

French

14.5%

Arabic

8.7%

Chinese

7.2%

Mandarin

6.5%

Italian

5.8%

Japanese

5.1%

Russian

4.3%

Portuguese

2.9%

Cantonese

2.9%

Hindi

1.4%

Korean

1.4%

Indonesian

1.4%

German

1.4%

Swahili

0.7%

Vietnamese

0.7%

Hokkien

0.7%

Kazakh

0.7%

Nepali

0.7%

Dakota

0.7%
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Credit Officer Education

Schools

New York University

14.8%

Columbia University

6.8%

Fordham University

5.7%

University of the West

5.7%

Colorado State University

5.7%

American University

5.7%

National University

4.5%

Western Washington University

4.5%

George Washington University

4.5%

Saint John's University - New York

4.5%

Florida State University

4.5%

Harvard University

4.5%

University of Delaware

4.5%

University of California - Berkeley

3.4%

Wilmington University

3.4%

Baruch College of the City University of New York

3.4%

Pace University - New York

3.4%

University of Illinois University Administration

3.4%

Arizona State University

3.4%

Webster University

3.4%
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Majors

Business

32.9%

Finance

25.5%

Accounting

13.2%

Economics

5.1%

Management

4.6%

Marketing

3.4%

Computer Science

1.7%

Education

1.5%

Law

1.5%

Real Estate

1.5%

English

1.2%

Political Science

1.2%

Human Resources Management

1.2%

Psychology

1.0%

Legal Research And Advanced Professional Studies

0.9%

Project Management

0.8%

International Business

0.7%

Liberal Arts

0.7%

Information Technology

0.7%

Management Information Systems

0.6%
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Degrees

Bachelors

45.8%

Masters

35.3%

Associate

5.1%

Diploma

5.0%

Certificate

4.0%

High School Diploma

3.2%

Doctorate

1.2%

License

0.3%
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Updated May 18, 2020