Chief Credit Officer salary in Iceland

Average Yearly Salary of Chief Credit Officer in Iceland is approximately 26,549,688 ISK (185,715 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Chief Credit Officer do?

The Chief Credit Officer (CCO) is a senior-level executive responsible for overseeing and managing the credit risk of a financial institution. Their primary role is to ensure that the organization's credit policies and procedures are in line with regulatory requirements and industry best practices. The CCO is responsible for assessing and mitigating credit risks, developing and implementing credit risk management strategies, and monitoring the overall credit portfolio performance. The CCO plays a crucial role in evaluating the creditworthiness of borrowers, determining appropriate credit limits, and establishing lending guidelines. They collaborate with various departments, including underwriting, loan administration, and collections, to ensure effective credit risk management throughout the organization. Additionally, the CCO provides guidance and recommendations to senior management and the board of directors regarding credit risk exposure and potential impacts on the institution's financial health.

Skills: Chief Credit Officer, Credit Risk Management, Credit Portfolio, Regulatory Compliance, Creditworthiness Assessment, Credit Risk Mitigation.
Job industry: Banking or financial services

How much does Chief Credit Officer make?

Difference in salary year over year or average salary increase is approximately 3 %


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Salary comparison to National average

Is Chief Credit Officer a well paid job?

Yes, our data show that Chief Credit Officer is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Chief Credit Officer?

High salary for Chief Credit Officer would be somewhere between 29,204,657 ISK and 38,497,048 ISK. However this is an estimation based on Gaussian Distribution.

How much can you save working as Chief Credit Officer in Iceland?

Living in Iceland the approximate monthly expenses are: 2,729 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 26,549,688 ISK
Estimated Monthly Salary: 2,212,474 ISK
Estimated Weekly Salary: 510,571 ISK per week
Estimated Hourly Salary: 12,764 ISK per hour
By working as Chief Credit Officer a person can save up to 12,747 USD per month or 152,969 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Iceland, see costs of living in Iceland.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Norway, Faroe Islands, United Kingdom.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Chief Credit Officer

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

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Data as of 2025

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