Short Description

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

 

Wages & Employment Trends

  1. Median wages (2006) $24.89 hourly, $51,760 annual
  2. Employment (2006) 373,000 employees
  3. Projected growth (2006-2016) Average (7% to 13%)
  4. Projected need (2006-2016) 83,000 additional employees

 

Relations

Loan Officer, Branch Manager, Commercial Banker, Commercial Loan Officer, Corporate Banking Officer, Portfolio Manager, Relationship Manager, Agricultural Loan Officer, Branch Lending Officer, Mortgage Loan Officer.

 

Tasks

  1. Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
  2. Meet with applicants to obtain information for loan applications and to answer questions about the process.
  3. Analyze applicants’ financial status, credit, and property evaluations to determine feasibility of granting loans.
  4. Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  5. Obtain and compile copies of loan applicants’ credit histories, corporate financial statements, and other financial information.
  6. Review and update credit and loan files.
  7. Review loan agreements to ensure that they are complete and accurate according to policy.
  8. Compute payment schedules.
  9. Stay abreast of new types of loans and other financial services and products to better meet customers’ needs.
  10. Submit applications to credit analysts for verification and recommendation.

 

Tools & Technology

Tools used in this occupation:

  1. Desktop computers
  2. Notebook computers
  3. Personal computers
  4. Personal digital assistant PDAs or organizers — Personal digital assistants PDA
  5. Tablet computers

 

Technology used in this occupation:

  1. Accounting software — Bottom Line LoanMaster Loan Servicing; Financial Industry Computer Systems Loan Accountant
  2. Content workflow software — Equifax Application Engine; Experian Transact
  3. Document management software — eOriginal eCore Business Suite
  4. Financial analysis software — CGI-AMS CACS Enterprise; Experian Credinomics; VueCentric MortgageDashboard; White Clarke North America Credit Adjudication and Lending Management
  5. Office suite software — Experian Strategy Management

 

Knowledge

  1. 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.
  2. Customer and Personal Service — 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.
  3. Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  4. English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  5. Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

 

Skills

  1. Active Listening — 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.
  2. Time Management — Managing one’s own time and the time of others.
  3. Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
  4. Persuasion — Persuading others to change their minds or behavior.
  5. Speaking — Talking to others to convey information effectively.
  6. Social Perceptiveness — Being aware of others’ reactions and understanding why they react as they do.
  7. Coordination — Adjusting actions in relation to others’ actions.
  8. Service Orientation — Actively looking for ways to help people.
  9. Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  10. Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.

 

Abilities

  1. Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
  2. Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
  3. Speech Clarity — The ability to speak clearly so others can understand you.
  4. Written Comprehension — The ability to read and understand information and ideas presented in writing.
  5. Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  6. 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.
  7. Speech Recognition — The ability to identify and understand the speech of another person.
  8. Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
  9. Near Vision — The ability to see details at close range (within a few feet of the observer).
  10. Written Expression — The ability to communicate information and ideas in writing so others will understand.

 

Work Activities

  1. Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  2. Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  3. Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  4. 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.
  5. Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  6. Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
  7. 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.
  8. Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
  9. Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  10. Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

 

Work Context

  1. Face-to-Face Discussions — How often do you have to have face-to-face discussions with individuals or teams in this job?
  2. Telephone — How often do you have telephone conversations in this job?
  3. Contact With Others — How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?
  4. Frequency of Decision Making — How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?
  5. Work With Work Group or Team — How important is it to work with others in a group or team in this job?
  6. Impact of Decisions on Co-workers or Company Results — How do the decisions an employee makes impact the results of co-workers, clients or the company?
  7. Freedom to Make Decisions — How much decision making freedom, without supervision, does the job offer?
  8. Spend Time Sitting — How much does this job require sitting?
  9. Importance of Being Exact or Accurate — How important is being very exact or highly accurate in performing this job?
  10. Structured versus Unstructured Work — To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals?

 

Job Zone

Medium Preparation Needed

  1. Overall Experience Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
  2. Job Training Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers.
  3. Job Zone Examples These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include funeral directors, electricians, forest and conservation technicians, legal secretaries, interviewers, and insurance sales agents.
  4. SVP Range (6.0 to < 7.0).

 

Education

Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate’s degree. Some may require a bachelor’s degree.

 

Interests

  1. Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  2. Social — Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
  3. Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

 

Work Styles

  1. Integrity — Job requires being honest and ethical.
  2. Social Orientation — Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
  3. Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
  4. Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  5. Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
  6. Independence — Job requires developing one’s own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
  7. Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  8. Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  9. Initiative — Job requires a willingness to take on responsibilities and challenges.
  10. Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.

 

Work Values

  1. Support — Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
  2. Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.

 

Other Occupation Details:

  1. Controller/Treasurer
  2. Chief Executive
  3. Financial Examiner
  4. Financial Manager
  5. Purchasing Manager
  6. Accountant
  7. Auditor
  8. Tax Examiner
  9. Personal Finance Advisors
  10. Bookkeeper
  11. Budget Analyst
  12. Financial Analyst
  13. Credit Analyst
  14. Supervisor
  15. Loan Officer
  16. Bill Account Controller
  17. Administrative Officer
  18. Purchasing
  19. Cost Estimator
  20. Tax Preparer
  21. Clerk – Junior Accountant
  22. Clerk – Statement
  23. Teller
  24. Cashier