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Become A Credit Officer

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Working As A Credit Officer

  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Guiding, Directing, and Motivating Subordinates
  • Coaching and Developing Others
  • Establishing and Maintaining Interpersonal Relationships
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Make Decisions

  • $117,500

    Average Salary

What Does A Credit Officer Do At Citi

* Support the bankers in underwriting requests for credit extensions for new and existing clients, and in the writing of annual reviews with focus on more complex and higher dollar exposure transactions, including government programs.
* Perform detailed financial analysis on companies, including trend and ratio analysis, and interpret the financial information.
* Perform credit and personal financial statement analysis on individuals, guarantors, and co-borrowers in order to determine repayment capacity based on cash flow statements, tax returns, and statements.
* Prepare monthly and/or quarterly reviews of existing borrowers in order to track compliance with various loan covenants as outlined in the Loan Agreement.
* Build a solid understanding of Citibank products and services (both within Business and Commercial Banking and the broader organization).
* Coordinate with bankers on customer calls and site visits, when appropriate.
* Perform industry and geographical research and other due diligence as needed.
* Be familiar with Citibank credit policies and practices and regulatory policies, to assist unit in achieving compliance with the above and satisfactory ratings from internal and external auditors.
* Provide support and training for less experienced credit officers and other credit center staff in application processing, credit analysis and loan closing roles.
* Provide back up support to the team manager in workflow distribution and monitoring as needed.
* Recommend changes to process to achieve greater efficiency.
* Qualifications
* QUALIFIFCATIONS
* Bachelors degree required; MBA preferred
* years experience working in a financial institution with a minimum of 2
* years in a commercial credit analysis and underwriting role. (credit trained

What Does A Credit Officer Do At Santander Bank, Na

* Manages approval and commitment process (e.g.
* Committees) ensuring compliance with Credit Policy and accuracy of documents and supporting exhibits
* Works with Regional Managers and clients negotiating and communicating final deal structure and terms
* Continuously monitors and proactively manages risk/exposure and compliance with Credit Policy for assigned portfolio
* Frequently visits clients and reviews client performance and financials.
* Also provides guidance and mentoring to Credit Analysts and Credit Officers
* Responsible for evaluating financial performance of borrower and based on a variety of factors, determining an appropriate risk rating
* Responsible for making decisions or recommendations on renewals, modifications, etc.
* Visits and interacts in person and via phone/email with existing customers and potential customers on credit or risk related matters.
* May identify cross sell opportunities
* Authenticates all post loan closing activities, including conditions precedent to closing, are accurate and complete
* Identifies early client risk/exposure, early detection of volatile industries and markets for assigned portfolio within designated region
* Responsible for the quality, integrity and soundness of all financial analysis, underwriting and credit approval processes for an assigned portfolio
* Authorizes decisions in areas of credit transactions, risk ratings and extensions of credit within limits of individual authority and makes recommendations on others Credit Policy
* Communicates final deal structure, pricing, terms and conditions to client and Sales team maintaining integrity of formal Committee Approvals
* Manages approval process ensuring accuracy of approval documents memorandum (SAM), supplemental exhibits and underwriting is compliant with current Credit Policy standards and practices
* Negotiates terms and conditions of Credit with Relationship Managers
* Proactively manages credit risk and exposure for an assigned portfolio; initiates credit modifications and risk upgrading/downgrading, modifying terms and frequency of covenants, financial reporting, collateral security, audit schedule
* Responsible for formal credit review processes such as Monitoring as well as Credit File reviews, Audits, Compliance Reviews etc and on an on-going basis reviews for accuracy and completeness all formal loan documentation, comments and updates
* Evaluates structures, risk rates and underwrites companies with risk exposure or potential risk exposure to the bank.
* Ensures appropriate compliance with all band requirements and loan covenants.
* At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams.
* We actively encourage everyone to apply._
*

What Does A Credit Officer Do At Metropolitan Commercial Bank

* Preparing, reviewing, and analyzing the
* creditworthiness of all commercial loan originations and renewals by spreading
* company and personal financial statements into the Bank’s software;
* Preparing written Credit Memorandums for
* presentation and approval;
* Evaluating financial statements, historic trends,
* projections, management performance, industry trends and forecasts, cash flow,
* capital structure, and collateral analysis;
* Ordering, reviewing, and analyzing reports: credit;
* tax returns; financial statements; environmental, appraisal, and property
* evaluations; etc.;
* Performing various department functions, such as
* risk rating, stress testing, and audit preparation;
* Participating in customer meetings as requested by
* the lending staff

What Does A Credit Officer Do At United Prairie Bank

* Define guidelines and monitor the portfolio level of concentration by loan type and industry with respect to total risk.
* Assess and guide the development of additional loan and credit products that will allow the asset portfolio to grow and diversify while maintaining managed levels of acceptable risk.
* Participate in leading the continued education and personal development of all lending staff to enhance their personal growth and organizational value.
* Participate in risk assessment practices to identify areas of concern or potential exposure to loss.
* Participate with the Risk Management Officer to communicate trend problems, classified, non-accrual, and restructured, delinquent and non-performing assets to the Governance Committee.
* Monitor and make recommendations for the Allowance for Loan and Lease Losses to maintain reserve levels commensurate with the portfolio growth and risk assessment, regulatory requirements and in line with UPB Loan Policy.
* Monitor and maintain asset quality standards via written policies and procedures to include the annual review and updating of Loan Policy Procedures and Guidelines.
* Develop correspondent relationships for the purpose of acquiring and selling participation loans.
* Oversee the purchase, portfolio management and file management of participation loans.
* Serve on ALCO Committee
* Approve authority roles.
* Abide by all policies, procedures and regulations of UP.
* Utilize all communication tools available including, but not limited to: UPLink, email, and instant messaging.
* Any and all other duties as assigned by your supervisor and/or management.
* Job Specifications:
* This position reports directly to the Chief Executive Officer.
* Discussion on work objectives will be held monthly while the majority of the work is done independently with set priorities, performance standards and functional accountabilities.
* Supervisory Responsibilities:
* Carry out supervisory responsibilities in accordance with the organization’s policies and applicable laws.
* Responsibilities include interviewing, hiring and training employees; planning, assigning and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems

What Does A Credit Officer Do At Univest Corporation of Pennsylvania

* Partnering with Relationship Managers and Credit Officers in the underwriting process.
* Responsible for ensuring commercial loans are underwritten within the principles of sound banking practices and established policy guidelines.
* Acting in a leadership role, as a mentor within the department to analysts of lesser experience.
* Being the primary point of contact for a team of Relationship Managers and partnering with other team members to ensure the timely completion of all credit assignments.
* Ensuring the presence of a credit culture consistent with the Univest Asset Quality objectives and strategic plan established by the Board of Directors.
* Provide support to the Credit Services Team through mentoring, problem resolution, and goal-setting.
* Solid understanding of all credit products, credit policies and procedures, as well as the ability to underwrite more complex credits in terms of structure, pricing, covenants and loan documentation.
* Stay abreast of the risk tolerance status for the various loan types and keeps the lending and credit teams informed of any changes that might impact their marketing and loan negotiations.
* Identify potential problem credits and work with Relationship Managers and Credit Officers to provide guidance in restructuring the credit and/or minimize losses.
* Assist in the credit aspects of all regulatory exams, internal loan audits and external loan audits, as necessary.
* Responsible for compliance with laws and regulations that apply to the position, including the Univest Code of Conduct

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How To Become A Credit Officer

Financial managers typically have a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.

Education

A bachelor's degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master’s degree, preferably in business administration, finance, or economics. These academic programs help students develop analytical skills and learn financial analysis methods and software.

Licenses, Certifications, and Registrations

Professional certification is not required, but some financial managers still get it to demonstrate a level of competence. The CFA Institute confers the Chartered Financial Analyst (CFA) certification to investment professionals who have at least a bachelor’s degree, 4 years of work experience, and pass three exams. The Association for Financial Professionals confers the Certified Treasury Professional credential to those who pass an exam and have a minimum of 2 years of relevant experience.

Work Experience in a Related Occupation

Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst. 

In some cases, companies provide formal management training programs to help prepare highly motivated and skilled financial workers to become financial managers.

Important Qualities

Analytical skills. Financial managers increasingly are assisting executives in making decisions that affect their organization, a task which requires analytical ability.

Communication skills. Excellent communication skills are essential because financial managers must explain and justify complex financial transactions.

Detail oriented. In preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors.

Math skills. Financial managers must be skilled in math, including algebra. An understanding of international finance and complex financial documents also is important.

Organizational skills. Financial managers deal with a range of information and documents and so they must stay organized to do their jobs effectively.

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Credit Officer jobs

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Credit Officer Career Paths

Credit Officer
Business Development Officer Vice President And Manager Controller
Accounting Officer
7 Yearsyrs
Credit Manager Accounts Receivable Specialist Finance Analyst
Assistant Vice President
7 Yearsyrs
Chief Operating Officer Managing Partner Controller
Chief Finance And Operating Officer
14 Yearsyrs
Credit Manager Office Manager Controller
Corporate Controller
12 Yearsyrs
Risk Manager Senior Manager Controller
Finance Controller
9 Yearsyrs
Chief Operating Officer President/Chief Executive Officer Finance Advisor
Finance Vice President
9 Yearsyrs
Operations Manager Account Executive Sales Manager
General Sales Manager
8 Yearsyrs
Vice President And Manager Finance Advisor Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Underwriter Quality Control Operations Manager
Marketing Director
7 Yearsyrs
Vice President And Manager Executive Vice President Managing Partner
Operations Director
9 Yearsyrs
Managing Director Chief Executive Officer Property Manager
Portfolio Manager
7 Yearsyrs
Risk Manager Safety Manager General Manager
Regional Vice President
11 Yearsyrs
Credit Director Collections/Accounts Receivable Finance Manager
Senior Director Of Finance
14 Yearsyrs
Vice President And Portfolio Manager Investment Advisor Assistant Vice President
Senior Relationship Manager
10 Yearsyrs
Portfolio Manager Senior Project Manager President Of Operations
Senior Vice President-Operations
13 Yearsyrs
Portfolio Manager Assistant Vice President
Vice President & Sales Manager
9 Yearsyrs
Underwriter Assistant Vice President
Vice President And Manager
10 Yearsyrs
Operations Manager Branch Manager Assistant Vice President
Vice President Operation Manager
9 Yearsyrs
Managing Director President/Chief Executive Officer Business Developer
Vice President, Business Development
13 Yearsyrs
Vice President And Portfolio Manager Investment Officer Assistant Vice President
Vice President, Product Manager
9 Yearsyrs
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Credit Officer Demographics

Gender

  • Male

    60.5%
  • Female

    35.6%
  • Unknown

    3.9%

Ethnicity

  • White

    71.1%
  • Hispanic or Latino

    11.9%
  • Asian

    11.0%
  • Unknown

    3.6%
  • Black or African American

    2.3%
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Languages Spoken

  • Spanish

    33.0%
  • French

    13.4%
  • Chinese

    7.1%
  • Mandarin

    6.3%
  • Italian

    5.4%
  • Japanese

    5.4%
  • Arabic

    5.4%
  • Russian

    4.5%
  • Portuguese

    3.6%
  • Cantonese

    3.6%
  • German

    2.7%
  • Hindi

    1.8%
  • Indonesian

    1.8%
  • Swahili

    0.9%
  • Vietnamese

    0.9%
  • Dutch

    0.9%
  • Hokkien

    0.9%
  • Catalan

    0.9%
  • Urdu

    0.9%
  • Nepali

    0.9%
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Credit Officer

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Real Credit Officer Salaries

Job Title Company Location Start Date Salary
Cheif Credit Officer Westpac Banking Corporation New York, NY Sep 15, 2012 $277,887
Global Credit Risk Officer & Worldwide Treasurer TBWA Worldwide, Inc. New York, NY Jun 24, 2016 $227,178
Worldwide Treasurer and Credit Risk Officer TBWA Worldwide Inc. New York, NY Jun 13, 2015 $220,813
Global Credit Risk Officer & Worldwide Treasurer TBWA Worldwide Inc. New York, NY Sep 03, 2015 $220,813
Worldwide Treasurer and Credit Risk Officer TBWA Worldwide, Inc. New York, NY Jun 13, 2012 $200,000
Senior Credit Officer Westpac Banking Corporation New York, NY Jan 02, 2016 $188,244
Regional Credit Officer-Latin America Division Aiu Insurance Company Miami, FL Oct 01, 2012 $180,000
Regional Credit Officer-Latin America Division Chartis Global Services, Inc. Miami, FL Sep 28, 2012 $180,000
Senior Credit Officer Westpac Banking Corporation New York, NY Jan 03, 2014 $180,000
Chief Credit Officer Greensky Trade Credit LLC. Atlanta, GA Mar 15, 2013 $180,000
Senior Credit Officer Westpac Banking Corporation New York, NY Feb 21, 2011 $155,000
Director, Credit Officer UBS Services LLC New York, NY Aug 01, 2014 $154,000 -
$170,000
Credit Officer JP Morgan Chase & Co New York, NY Apr 10, 2016 $149,136
Credit Officer Industrial and Commercial Bank of China Limited New York, NY Jul 15, 2016 $149,136
Executive Director, Credit Officer UBS Services LLC Stamford, CT Oct 29, 2009 $140,000 -
$160,000
Senior Credit Officer BNP Paribas North America, Inc. New York, NY Oct 01, 2010 $130,000
Credit Risk Officer Santander Bank, N.A. New York, NY Jan 02, 2015 $130,000 -
$150,000
Director, Credit Risk Officer UBS Services LLC Stamford, CT Aug 26, 2016 $130,000 -
$165,000
Senior Credit Risk & Research Officer SVB Financial Group San Francisco, CA Sep 22, 2016 $128,000 -
$192,000
Senior Credit Officer (VP) Sumitomo Mitsui Banking Corporation New York, NY Aug 08, 2016 $126,691
Credit Officer Citibank, N.A. San Francisco, CA Oct 24, 2012 $110,300
Associate Credit Officer Commerzbank AG-New York Branch New York, NY Jan 10, 2016 $100,776
Credit Officer Jpmorgan Chase and Co. New York, NY Sep 30, 2016 $100,000
Credit Officer Jpmorgan Chase and Co. New York, NY Sep 20, 2016 $100,000
Credit Officer Earnest Inc. San Francisco, CA Oct 09, 2016 $100,000
Associate Credit Officer Commerzbank AG-New York Branch New York, NY Oct 01, 2013 $98,800
Associate Credit Officer Commerzbank AG New York, NY Nov 19, 2014 $98,800

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Top Skills for A Credit Officer

LoanPortfolioEnsureComplianceAssetQualityCreditPolicyRealEstateCreditAnalysisCreditRelationshipsRiskManagementLoanApplicationsDueDiligenceLossCreditCommitteeCreditQualityCustomerServiceCreditApplicationsCreditApprovalCreditCardFinancialStatementAnalysisLoanCommitteeCreditWorthiness

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Top Credit Officer Skills

  1. Loan Portfolio
  2. Ensure Compliance
  3. Asset Quality
You can check out examples of real life uses of top skills on resumes here:
  • Determined financial viability and projections for new and existing commercial loan portfolio.
  • Instituted global training programs to ensure compliance with revised policies and procedures for capital markets, treasury, and credit.
  • Worked with lenders and credit staff to achieve needed improvements in asset quality, documentation, operating systems and regulatory issues.
  • Participated in the formulation of credit policy.
  • Traveled throughout the US to numerous real estate markets, keeping current on market conditions for all property types.

Top Credit Officer Employers

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