Loan Officers

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.

Tasks

Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
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.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
Review and update credit and loan files.
Review loan agreements to ensure that they are complete and accurate according to policy.
Compute payment schedules.
Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
Submit applications to credit analysts for verification and recommendation.

Knowledge

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.
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.
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.
Clerical: Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Law and Government: Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Personnel and Human Resources: Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
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.
Computers and Electronics: Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills

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.
Time Management: Managing one's own time and the time of others.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Persuasion: Persuading others to change their minds or behavior.
Speaking: Talking to others to convey information effectively.
Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.
Service Orientation: Actively looking for ways to help people.
Coordination: Adjusting actions in relation to others' actions.
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.

Abilities

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

Work Activities

Making Decisions and Solving Problems: Analyzing information and evaluating results to choose the best solution and solve problems.
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.
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.
Getting Information: Observing, receiving, and otherwise obtaining information from all relevant sources.
Establishing and Maintaining Interpersonal Relationships: Developing constructive and cooperative working relationships with others, and maintaining them over time.
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.
Judging the Qualities of Things, Services, or People: Assessing the value, importance, or quality of things or people.
Communicating with Supervisors, Peers, or Subordinates: Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Interacting With Computers: Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Work Context

Telephone: How often do you have telephone conversations in this job?
Face-to-Face Discussions: How often do you have to have face-to-face discussions with individuals or teams in this job?
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?
Work With Work Group or Team: How important is it to work with others in a group or team in this job?
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?
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?
Freedom to Make Decisions: How much decision making freedom, without supervision, does the job offer?
Spend Time Sitting: How much does this job require sitting?
Importance of Being Exact or Accurate: How important is being very exact or highly accurate in performing this job?
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?

Interests

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.
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.
Social: Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Investigative: Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Realistic: Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
Artistic: Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.

Work Style

Integrity: Job requires being honest and ethical.
Social Orientation: Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
Dependability: Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Analytical Thinking: Job requires analyzing information and using logic to address work-related issues and problems.
Attention to Detail: Job requires being careful about detail and thorough in completing work tasks.
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.
Initiative: Job requires a willingness to take on responsibilities and challenges.
Cooperation: Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Adaptability/Flexibility: Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Leadership: Job requires a willingness to lead, take charge, and offer opinions and direction.

Work Value

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.
Independence: Occupations that satisfy this work value allow employs to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
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.
Achievement: Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Recognition: Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Working Conditions: Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.

Description:

Tasks

Knowledge

Skills

Abilities

Work Activities

Work Context

Interests

Work Style

Work Value

Related Occupations

Common Lay Titles

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