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Credit Officer

What Is a Credit Officer and How to Become One

By ZipRecruiter Marketplace Research Team

Table of Contents

What Is a Credit Officer?

A credit officer processes financial loan applications for clients on behalf of banks. Their job responsibilities include helping clients choose the best loan options for their car, mortgage, or personal credit. Other duties include evaluating credit, entering financial data, and performing risk assessments. To become a credit officer, you need a bachelor’s degree in finance, accounting, or economics. Additional qualifications, such as the certified lender business banker (CLBB) credential, can help you advance in this career.

How to Become a Credit Officer

Your entry point for a career as a Credit Officer, also known as a Loan Officer, is a bachelor’s degree in banking, business, accounting, finance, economics, or a related field. You will also need to develop strong math, critical thinking, communication, and consumer-facing skills. Credit Officers also need working knowledge of relevant loan application software systems, but you will likely be taught specific systems through on-the-job training. Some employers look for a background in credit administration or credit portfolio management as well. If you want to become a Consumer or Commercial Credit Officer, then you are not required to obtain any licensure. However, most states do require you to earn a license if you choose to become a Mortgage Loan Officer. The exact process varies state-by-state, but it usually involves passing an exam.

How to Be a Good Credit Officer

To be a good credit officer, you need a solid understanding of financial products and lending practices. Getting a college education in finance or a similar major is the first step in becoming a qualified financial professional. Banks often provide on-the-job training in their particular lending products and loan sales methods. Additional qualifications, such as the certified lender business banker (CLBB) credential, can help you advance your career as a credit officer. As you gain experience and skills working with clients, and you may move into more advanced positions.

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