Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Credit Risk Officer Job Description

Job Descriptions February 8, 2014

According to the 2010 SOC, from the U.S. Bureau of Labor Statistics, a credit risk analyst is one who is responsible for the analysis of certain credit data and personal review of financial statements, of individuals and business structures, to determine the level of risk involved with extending fixed, revolving credit, or lending predetermined sums of money. They are charged with preparing reports and compiling documents involved in making a decision. A credit risk officer falls under the broader category of financial specialist.

A candidate for this position can expect a median salary of $64,350, according to the 2010-2020 U.S. Bureau of Labor Statistics. An entry level position, as a credit risk officer, would require a minimum of a bachelor’s degree in the area of specialty. For an advanced position in the field, a master’s degree would be required.

An individual in the position of credit risk officer may also provide analysis and evaluation, in regards to the overall credit risk of a financial institution. They are charged with the goal of maximizing profit while minimizing credit loss or risk. This individual must be familiar with procedures, practices and concepts within the financial field.

A qualified candidate will be required to rely on practiced experience and superior judgment, to plan and accomplish goals. They will perform multiple activities and industry-specific tasks. A degree of creativity and latitude is needed for this position. The individual in this position will work under the general supervision of a financial operations manager, and report to an executive level manager.

The job outlook for 2010-2020, according to the US Bureau of Labor Statistics, is 23% faster than average. There were 236,000 jobs in this field, in 2010. The employment change, expected within the period 2010-2020, is 54,200.

In addition, this individual will be required to keep current in developments within the academic community while keeping track of the regulatory environment, current risk assessment technologies and the financial services industry, in order to provide expert guidance to their firm.

They will be required to expand their understanding of an unexplored field and adapt to and, if necessary, perform model validations of specialized models. A prime responsibility will be the support of regulatory examiners and the performance of internal audits, of the process and specialized components of utilized models.

A superior candidate will be able to perform model-specific validation and confirm the expectation of expert judgment on qualitative factors that augment certain quantitative models. They will be charged with reviewing to confirm that adequate controls and proper documentation are in place. In addition, they will review the underlying assumption, theory, empirical evidence, implementation and limitations of the model and evaluate the model’s performance with standard back testing and benchmarking techniques.

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Top-ranked online MBA
  • As few as 24 months to complete
  • GMAT waivers for experienced professionalsin 24 months.
  • Bachelor’s degree required
  • Six concentrations available
  • AACSB accredited
  • Online Courses
1 Program(s) Found
  • Online program in HR Management and Analytics from Wharton
  • Two-month online program by Wharton: Learn the latest HR Management and Analytics techniques to improve performance. Live faculty sessions.
  • Learn through case studies and examples from automotive to banking.
  • Custom exercises and moderated discussion make for interactive learning.
  • Online Courses
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Top-ranked online MBA
  • As few as 24 months to complete
  • GMAT waivers for experienced professionalsin 24 months.
  • Bachelor’s degree required
  • Six concentrations available
  • AACSB accredited
  • Online Courses
1 Program(s) Found
  • Online program in HR Management and Analytics from Wharton
  • Two-month online program by Wharton: Learn the latest HR Management and Analytics techniques to improve performance. Live faculty sessions.
  • Learn through case studies and examples from automotive to banking.
  • Custom exercises and moderated discussion make for interactive learning.
  • Online Courses
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!