Loan officer evaluates, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
Meet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Submit applications to credit analysts for verification and recommendation.
Review loan agreements to ensure that they are complete and accurate according to policy.
Review and update credit and loan files.
Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
Work with clients to identify their financial goals and to find ways of reaching those goals.
Handle customer complaints and take appropriate action to resolve them.
Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
Analyze potential loan markets and develop referral networks to locate prospects for loans.
Compute payment schedules.
Supervise loan personnel.
Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
Authorize or sign mail collection letters.
Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
Confer with underwriters to resolve mortgage application problems.
Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
Inform individuals and groups about the financial assistance available to college or university students.
Maintain and review account records, updating and recategorizing them according to status changes.
Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations.
Review accounts to determine write-offs for collection agencies.
Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
Performing for or Working Directly with the Public — Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
Monitor Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
Coordinating the Work and Activities of Others — Getting members of a group to work together to accomplish tasks.
Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Sales and Marketing
Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking
Talking to others to convey information effectively.
Reading Comprehension
Understanding written sentences and paragraphs in work related documents.
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Mathematics
Using mathematics to solve problems.
Social Perceptiveness
Being aware of others' reactions and understanding why they react as they do.
Complex Problem Solving
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Active Learning
Understanding the implications of new information for both current and future problem-solving and decision-making.
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension
The ability to read and understand information and ideas presented in writing.
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
Written Expression
The ability to communicate information and ideas in writing so others will understand.
Near Vision
The ability to see details at close range (within a few feet of the observer).
Speech Recognition
The ability to identify and understand the speech of another person.
Speech Clarity
The ability to speak clearly so others can understand you.
Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
Problem Sensitivity
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Mathematical Reasoning
The ability to choose the right mathematical methods or formulas to solve a problem.
Number Facility
The ability to add, subtract, multiply, or divide quickly and correctly.
Information Ordering
The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
Category Flexibility
The ability to generate or use different sets of rules for combining or grouping things in different ways.
Selective Attention
The ability to concentrate on a task over a period of time without being distracted.
Fluency of Ideas
The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
