How to hire a senior credit manager

How to hire a senior credit manager, step by step

Here's a step-by-step senior credit manager hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a senior credit manager job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new senior credit manager
• Step 8: Go through the hiring process checklist

What does a senior credit manager do?

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1. Identify your hiring needs

   Before you start hiring a senior credit manager, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   A senior credit manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, senior credit managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   This list shows salaries for various types of senior credit managers.

   Type of Senior Credit Manager	Description	Hourly rate
   Senior Credit Manager	Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.	$40-101
   Tax Manager	A Tax Manager is responsible for managing tax reporting and compliance within an organization. They provide innovative tax planning and prepare state and federal tax returns for companies.	$33-62
   Finance Manager	A finance manager is responsible for monitoring the financial system of a company. Their tasks include handling their organization's financial status, generating cost estimates and budget goals, identifying business opportunities to increase revenues and profitability, improving financial strategies, reducing costs, analyzing account statements, processing invoice as needed, analyzing market trends, searching potential partnerships, and presenting reports... Show more	$34-69

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Risk Management
   • Credit Risk
   • Credit Analysis
   • Financial Statements
   • Credit Policy
   • Credit Decisions
   • Financial Analysis
   • Approval Process
   • Credit Portfolio
   • Business Development
   • Cash Flow
   • Risk Analysis
   • Credit Card
   • Shared Services

   Check all skills

   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.
   • Partner with small and entrepreneurial business to develop business plans and assist business owners with achieving payroll.
   • Work as part of the global credit team to reduce the DSO in an effective and timely manner.

   More senior credit manager duties

3. Make a budget

   Including a salary range in your senior credit manager job description helps attract top candidates to the position. A senior credit manager salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

   For example, the average salary for a senior credit manager in Alabama may be lower than in Alaska, and an entry-level senior credit manager usually earns less than a senior-level senior credit manager. Additionally, a senior credit manager with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

   Average senior credit manager salary

   $133,806yearly

   $64.33 hourly rate

   ---

   Entry-level senior credit manager salary

   $84,000 yearly salary

   Updated December 19, 2025

   Average senior credit manager salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Nevada	$168,332	$81
   2	District of Columbia	$161,715	$78
   3	New York	$157,716	$76
   4	Washington	$157,067	$76
   5	California	$157,046	$76
   6	Massachusetts	$146,571	$70
   7	New Jersey	$144,052	$69
   8	Delaware	$143,488	$69
   9	North Carolina	$142,866	$69
   10	Pennsylvania	$142,782	$69
   11	Connecticut	$141,754	$68
   12	Illinois	$140,420	$68
   13	Ohio	$135,551	$65
   14	Minnesota	$129,998	$63
   15	Arizona	$129,847	$62
   16	Missouri	$128,003	$62
   17	Nebraska	$127,975	$62
   18	Texas	$127,640	$61
   19	Virginia	$127,010	$61
   20	Kansas	$124,751	$60

   Average senior credit manager salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Credit Karma	$194,249	$93.39
   2	Fundbox	$192,332	$92.47
   3	PayPal	$177,016	$85.10	8
   4	First Tech Federal Credit Union	$163,588	$78.65	4
   5	Barclays	$161,343	$77.57	2
   6	Sumitomo Mitsui Financial Group	$159,647	$76.75	1
   7	Ernst & Young	$157,951	$75.94	2,188
   8	LendingClub	$157,849	$75.89	13
   9	CITGO Petroleum	$154,438	$74.25
   10	Instacart	$152,267	$73.21	5
   11	Citi	$151,036	$72.61	35
   12	MUFG EMEA	$148,781	$71.53
   13	Moody's	$147,457	$70.89	3
   14	Buckingham	$147,009	$70.68
   15	Microsoft	$146,735	$70.55	101
   16	Western Alliance Bank	$146,311	$70.34	31
   17	Nuveen Investments	$137,911	$66.30
   18	Webster Bank	$137,014	$65.87	8
   19	RSM US	$135,886	$65.33	225
   20	Varo	$134,762	$64.79	36

4. Writing a senior credit manager job description

   A job description for a senior credit manager role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a senior credit manager job description:

   Senior credit manager job description example

   At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.
   
   The Senior Manager Credit Review will manage credit risk and provide decisioning for Commercial Banking Technology sector deals and the Global Venture Debt team in particular, exercising delegated credit authority for credit exposure to existing and new clients across the world. They will ensure appropriate lending structures and controls are in place to handle inherent and unique risks in reviewed transactions and consult with businesses regarding appropriate credit facility structuring to meet company standards, regulatory guidelines and client needs.
   About Us
   
   HSBC is one of the largest banking and financial services organizations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfill their hopes and realize their ambitions.
   
   You will be responsible for:
   
   Participating with lenders and management of the US Commercial Banking and Global Venture debt teams, ensuring responsiveness, meeting portfolio exposure targets, minimizing credit costs and maintaining and acquiring profitable and prudent credit exposures on a global basis. Reviewing, recommending and approving individual credit limits within assigned authority for large and complex loans within the Technology and Venture Debt sectors involving the Company's and Group's customer base, ensuring compliance with Bank Credit Policy and Risk Appetite Guidelines as well as adherence to all Regulatory requirements Credit analysis and evaluation of the client's business model, financial performance, management, industry (including micro / macro-economic factors) and forecasted business plans.
   
   Requirements
   
   Employment eligibility to work with HSBC in the U.S. is required as the company will not pursue visa sponsorship for these positions.
   
   Minimum of 8-15 years proven, progressive and broad-based experience in credit, lending and / or workout areas or equivalent. Minimum of a bachelor's degree in business, finance, related field or equivalent experience. Credit training or equivalent experience, including demonstrated ability to identify, evaluate and discuss credit risk in new, unusual or complex proposal structures. An In-depth knowledge of businesses supported, their credit products and pertinent regulations affecting the extension of credit for those businesses, particularly in technology and tech-enabled deals, will be a plus. Strong analytical, planning, mathematical, problem-solving, communications, financial, technical, interpersonal and diplomatic skills.
   
   As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC's engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You'll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!
   
   All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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5. Post your job

   There are a few common ways to find senior credit managers for your business:

   • Promoting internally or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to meet candidates with the right educational background.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to recruit passive job-seekers.

   Post your job online:

   • Post your senior credit manager job on Zippia to find and recruit senior credit manager candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Recruiting senior credit managers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new senior credit manager

   Once you've found the senior credit manager candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

   To prepare for the new senior credit manager first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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