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The differences between senior fraud analysts and credit officers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a senior fraud analyst and a credit officer. Additionally, a credit officer has an average salary of $129,478, which is higher than the $91,428 average annual salary of a senior fraud analyst.
The top three skills for a senior fraud analyst include SQL, fraud risk and fraud prevention. The most important skills for a credit officer are risk management, credit risk, and credit analysis.
| Senior Fraud Analyst | Credit Officer | |
| Yearly salary | $91,428 | $129,478 |
| Hourly rate | $43.96 | $62.25 |
| Growth rate | 3% | 17% |
| Number of jobs | 13,411 | 60,323 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 69% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
A Senior Fraud Analyst performs extensive research and analyses to detect suspicious transactions and determine fraudulent activities in financial institutions or business establishments. Their responsibilities typically revolve around monitoring financial transactions and documents, gathering and analyzing various data, conducting account assessments, validating information, and thoroughly reviewing documents. There are also instances where they must set objectives, establish guidelines, produce progress reports, and resolve issues promptly and efficiently. Moreover, as a senior fraud analyst, it is essential to lead and serve as a role model for junior fraud analysts, overseeing their performance while implementing company policies and regulations.
A credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
Senior fraud analysts and credit officers have different pay scales, as shown below.
| Senior Fraud Analyst | Credit Officer | |
| Average salary | $91,428 | $129,478 |
| Salary range | Between $69,000 And $120,000 | Between $85,000 And $196,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | SoFi | Farm Credit System |
| Best paying industry | Start-up | Finance |
There are a few differences between a senior fraud analyst and a credit officer in terms of educational background:
| Senior Fraud Analyst | Credit Officer | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior fraud analysts' and credit officers' demographics:
| Senior Fraud Analyst | Credit Officer | |
| Average age | 39 | 39 |
| Gender ratio | Male, 43.5% Female, 56.5% | Male, 64.4% Female, 35.6% |
| Race ratio | Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 10.0% White, 69.0% American Indian and Alaska Native, 0.3% | Black or African American, 8.0% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |