How To Become A Senior Credit Manager: What It Is and Career Path

What is a senior credit manager and how to become one

Updated January 8, 2025

4 min read

Loans are one of the most important parts of a bank's operations. A good portfolio of loans can help a financial institution make a lot of profit, but giving out too many risky loans can cause a bank to lose serious money. It's the job of the senior credit manager to take charge of the bank's credit policy and manage its portfolio.

The senior credit manager spends a lot of time thinking about risk. They are responsible for managing risk by assessing if a borrower is trustworthy and improving company sales. They also need to have an in-depth knowledge of banking regulations such as FDIC rules, so the bank doesn't get in trouble. The senior credit manager also needs to be excellent at communicating with others as they manage team members and are in constant contact with clients.

The road to the senior credit manager position is long, often involving several years of banking experience and an advanced degree such as an MBA. The grind doesn't stop once the position of the senior credit manager is achieved either. Senior credit managers can expect to work long hours and even weekends. However, the payoff is excellent--the average salary is $144,775.

ScoreSenior Credit ManagerUS Average

Salary

8.5

Avg. Salary $133,806

Avg. Salary $59,228

Stability level

9.5

Growth rate 17%

Growth rate 0.3%

Diversity

3.3

Race

American Indian and Alaska Native 0.34%

Asian 9.92%

Black or African American 7.52%

Hispanic or Latino 14.38%

Unknown 4.10%

White 63.75%

Gender

female 35.76%

male 64.24%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress level

9.5

Stress level is very high

7.1 - high

Complexity level

9.0

Complexity level is advanced

7 - challenging

Work life balance

4.9

Work life balance is fair

6.4 - fair

Key steps to become a senior credit manager

Explore senior credit manager education requirements

Most common senior credit manager degrees

Bachelor's

75.8 %

Master's

12.4 %

Associate

6.9 %

Start to develop specific senior credit manager skills

Skills	Percentages
Risk Management	19.12%
Credit Risk	12.99%
Credit Analysis	6.24%
Financial Statements	4.35%
Credit Policy	4.26%

Complete relevant senior credit manager training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New senior credit managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a senior credit manager based on U.S. Bureau of Labor Statistics data and data from real senior credit manager resumes.

Research senior credit manager duties and responsibilities

Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
Order currency for on site ATM balance on receive daily reports.
Prepare NCUA reports, as well as state and federal filings.
Develop and implement credit union policies and procedures to ensure compliance with the NCUA guidelines.

Get senior credit manager experience

Generally, it takes 6-8 years to become a senior credit manager. The most common roles before becoming a senior credit manager include credit manager, credit analyst team lead and senior credit analyst.

Prepare your senior credit manager resume

When your background is strong enough, you can start writing your senior credit manager resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a senior credit manager resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable senior credit manager resume templates

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