What Is a Credit Risk Manager and How to Become One

By ZipRecruiter Marketplace Research Team

A credit risk manager analyzes credit risk for banks and similar financial institutions. In this role, it’s your job to develop better credit risk policies and procedures to alleviate losses and maintain capital. Additional duties involve examining data, building financial models, creating performance reports, ensuring regulatory compliance, and formulating credit policy. This career requires at least a bachelor’s degree in business administration or a related field. Other important qualifications include excellent analytical, communication, and research skills. Most employers typically prefer candidates who have previous risk management experience.

The primary qualifications for becoming a credit risk manager are a bachelor's degree in a relevant field and at least ten years of industry experience. This is a relatively senior position, and you are responsible for decisions that can make or lose a lot of money for a lending company. Employers strongly prefer candidates who have a long history of performing well on related tasks. Credit risk managers often oversee a larger group of credit risk analysts, so previous experience in a managerial role is also helpful. Fulfilling the responsibilities and duties of a credit risk manager requires interpersonal skills, financial skills, research skills, good judgment, and negotiation skills.