Loan Officers
Human Advantage 71%
Significant human skills needed
AI Automation Risk Moderate Risk
3.1 / 10
Some tasks in this role may be augmented by AI, but human oversight and interpersonal skills remain important.
Evaluate, 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.
Also Known As: Agricultural Loan Officer, Bank Officer, Bank Representative, Banking Services Officer, Branch Banker, Branch Lending Officer, Business Banker, Business Banking Officer +63 more
Core Tasks
- 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.
Supplemental Tasks (3)
- 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.
Education & Training
Job Zone 4 Job Zone Four: Considerable Preparation Needed
Education: Most of these occupations require a four-year bachelor's degree, but some do not.
Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
On-the-Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Education Level Distribution
Percentage of workers in this occupation with each education level.
Technology & Tools
Hot Technologies
Software (88)
Tools & Equipment (8)
Where This Career Leads
Career progression organized by specialty track and experience level.
Banking & Credit Financial Services
Zone 4
Loan Officers You are here
Resume Builder
Select key tasks to generate action-oriented resume bullets for Loan Officers positions.
Your Resume Bullets
Related Occupations
Show all 20 related occupations
Real Talk
Hear from real Loan Officerss about their work: