Responsibilities of a loan officer in a bank. Credit expert
The position of a loan officer in the direction of car loans in a bank is a type of position of a loan officer. He specializes only in car lending. Such a narrow specialty allows you to know all the subtleties and nuances of this direction and skillfully apply them in practice. His place of work can be either a bank branch or a car dealership. The last place is more convenient for salon owners and clients, because you do not need to go specifically to a bank branch to calculate all offers and find out about the conditions for obtaining a car loan. Being in a car dealership, a loan officer can immediately advise a potential client on the spot, explaining all the conditions for obtaining a car on credit, fill out an application, send for consideration and issue the required amount right on the day of contact. This approach allows you to increase sales at times, since customers most often apply for car loans in such convenient conditions.
The salary of a loan officer in the direction of car loans in a bank.
The average salary of an auto loan manager is 35,000 rubles. In the capital regions the level is higher - from 40,000 rubles, in others - from 20,000 rubles. Since income depends on the level of fulfillment of plans, income consists of two parts:
- Salary is a fixed amount, less than which a specialist will not receive. Usually its share in total income is no more than 30-50%, which motivates the employee to work.
- The premium is a variable value that depends on a number of factors, such as the fulfillment of the sales plan, the quality of service, the activity of attracting new customers, the timely payment of loans by customers, etc. There is usually no minimum or maximum amount of the premium, it is paid at the discretion of the management.
Requirements for a loan officer in the direction of car loans in a bank:
- Secondary specialized or higher education. There is usually no compulsory requirement for higher education. This position is one of the lowest bank vacancies, so even part-time students receiving higher education can be accepted.
- Confident user of PC and office programs. An auto loan worker needs to constantly work with a large number of documents in paper and in electronic format, therefore, it is necessary to have a good understanding of the computer and know the standard programs.
- Ability to work in a team and excellent communication skills. To apply for a car loan, a specialist needs to interact with several participants at once: with clients, with representatives of a car dealership, with his direct management, insurance companies. The result of the work depends on the ability to negotiate and unite a single team of all participants. A specialist with developed communication skills will be able to persuade the client to apply for a loan from him and in this particular car dealership, and he will conduct the entire transaction quickly and competently.
- Customer focus. This factor is fundamental. If a specialist behaves passively with clients, then the client will feel uncomfortable and uncomfortable, so he will go to another salon and to another specialist, where he will be really welcome. A positive attitude increases the loyalty of a potential borrower, which means he is more likely to apply for a car loan here.
- Experience in car loans. It is more welcome than mandatory. Sometimes a young specialist with no experience can be hired for these positions and trained directly at the bank.
Duties of a loan officer for the direction of car loans in a bank:
- Competent advice to clients on car loans. The specialist is obliged to convey to the potential borrower all the necessary information in order to push him to make a purchase. The consultation should be clear, clear, understandable, so that the client does not have the unpleasant feeling that he may be deceived or hidden.
- Filling in documents for the application. After the client agrees to apply for a car loan, the loan officer must correctly fill out all the documents, borrower questionnaire, passport data, send an application to the bank and wait for a response. After approval, you need to sign loan agreement, get insurance and all related documents.
- Formation of a base of existing or potential customers. An auto loan employee of a bank should compile and replenish the base of potential customers, who in the future can be offered to issue a car loan and notify about all promotions, discounts, and profitable offers. All this may interest the future borrower and push for a car loan.
- Credit transactions support. The loan officer must accompany the client from the stage of filling out the application to receiving the car. If the client is "abandoned" immediately after signing the contract, it will negatively affect the reputation of the specialist. If the borrower receives competent answers to all his questions on time, then he will advise all his friends to buy in this particular salon and apply for a loan from this particular specialist who accompanied him throughout the transaction.
- Negotiating with partners on issues related to car loans. Car loan registration is a multilateral process involving several parties to the transaction: the borrower, the lender, the car seller, the insurer, etc. In order to launch this mechanism, the loan officer must establish a negotiation process between the parties. This will save time and not delay the execution of the transaction.
- Transfer of reports further to the credit departments. All completed contracts must be transferred to the appropriate department of the bank for subsequent storage and filling out reporting documents. The negligent attitude of a specialist to this issue is unacceptable, because the reports and documents submitted on time indicate a responsible attitude to work and positively characterize the employee.
The work of a loan officer is directly related to the sale of the main banking product - credit. A candidate for this position must have a sharp mind and good looks, be able to work with people, because he is the face of the bank in the eyes of the borrower.
When writing a resume, you need to convince the employer that it is you who can do the job better. Show that you are a young, energetic person with potential and desire to develop it. Applicants with a higher economic education, or students in the last years of study, who know the specifics of the bank's work, banking products and are able to present them profitably, apply for this position.
It is good to have experience in a bank, this will give you a privilege over other candidates, or experience working with people, for example in direct sales. Indicate in your resume your strengths, such as tact, emotional stability, good intuition, sociability, active life position, desire to work and earn money.
See also other resume examples:
Download a sample resume of a loan officer:
Vasenin Anton Igorevich
(Anton Vasenin)
Purpose: Replacing the position of a loan officer.
Education:
september 2007 - June 2011 Dnipropetrovsk Regional Institute of Economics and Management, Faculty of Finance and Economics, specialty "finance and credit", bachelor's degree (full-time department).
September 2011 - January 2013 Dnepropetrovsk Regional Institute of Economics and Management, Faculty of Finance and Economics, specialty "Finance and Credit", Master's degree (correspondence department).
Work experience:
Credit specialist
june 2011 - September 2012 Bank Sirius, Dnepropetrovsk.
Functional responsibilities:
- registration of loans at points of sale (shop);
- advising clients on credit terms.
Credit specialist
january 2013 - October 2014 KB "Invest Bank", Dnepropetrovsk.
Functional responsibilities:
- active customer acquisition;
- provision of information about the bank's loan products;
- advising clients, a selection of profitable lending:
- fulfillment and overfulfillment of the plan;
- preparation of documents for a loan;
- control over the state of repayment of issued loans.
Professional skills:
- Excellent knowledge of PC and office programs;
- Possession of office equipment;
- Ability to convince;
- Knowledge of legislation in the field of banking law;
- Literacy of speech and writing;
- Knowledge of business etiquette and banking principles;
- Good memory;
- Knowledge of foreign languages: German - fluent.
Personal qualities:
Communication skills, responsibility, orderliness, accuracy, emotional stability, ability to work for a result, presentable appearance, activity, good intuition, tact.
Additional information:
Marital status: Married.
Children: no.
Possibility of business trips: no.
We hope that our sample resume for the position of a loan officer helped you in creating your resume for a job. Back to section ..
Banks exist to make money from lending. Loan specialists are those people who increase the income of banks and at the same time reduce their costs.
Credit experts occupy a large share among all bank employees, perhaps we can say that credit experts are the largest "caste" among all departments of the bank.
Today, a loan officer can be called differently: someone says a loan officer, someone calls this profession a loan officer. However, in fact it comes about the same specialist.
A loan specialist should be well versed in his bank's lending policy and skillfully market it. Also, a loan officer is simply obliged to know the main competing banks and their credit programs in order to explain to a potential borrower in any situation why it is worth working with his bank, and not with some other.
The ability to quickly navigate among the variety of loan products distinguishes experienced and professional loan officers from beginners and amateurs. This knowledge allows you to better understand and identify the needs of potential customers and ultimately provide them with the product that they really need.
In addition, a good credit expert must have an analytical mindset and be able to think in a systematic way. The ability to understand people and be a "psychologist" is highly valued in the banking environment, because good specialist must skillfully and quickly determine the reliability of a potential borrower.
Obligations of a loan officer
If we talk about the duties of loan officers in general, the following points can be highlighted that are directly related to the work and duties of a loan officer:
- Ability to calculate the loan amount according to the relevant bank programs;
- Check and accept the relevant documents from the borrower;
- To be able to select the optimal lending programs for bank clients;
- Assess the risks of loan default, as well as the ability to assign a certain conditional class or reliability rating to the borrower;
- †Prepare contracts for various types of loans;
- Be able to convince potential clients to work with this particular bank;
- Sign contracts with bank clients.
Personal qualities of a loan officer
Speaking about the personal qualities of a loan officer, I would like to first of all note the most important and influential aspects, such as:
- Sociability;
- Nice appearance;
- Neatness;
- Tact;
- Emotional stability;
- High sense of responsibility;
- Solidarity with the bank's policy.
The most important thing to understand in relation to a loan officer is that his task is not to simply issue a loan and accept documents, but to be able to determine the most reliable borrower who is likely to bring profit to the bank and will not create any unnecessary problems.
Naturally, the profession of a loan officer does not at all imply a thorough knowledge of all existing credit programs in all areas of lending. As a rule, credit specialists are clearly differentiated among themselves:
- Credit Card Specialists;
- Mortgage specialists;
- Car loan specialists, etc.
The amount of posts each banking institution is constantly growing.
Not surprisingly, the increase in the number of lending programs entails the emergence of new areas of work in the banking sector. These are brokers, managers, consultants.
But credit specialists are of particular value. The level of trust in the bank, the improvement of the quality of lending services and the change in the percentage of overdue debts to a smaller extent depend on the activities of the employees of this direction.
Relevance and development prospects of the position
Any bank is a financial and credit institution, and the lending service is one of the most popular.
It makes it possible to purchase any material values even in the absence of the required amount. Of course, the population needs loans. For banks, in turn, the implementation of such a service provides an opportunity to increase capital, reduce the level of overdue debt and subsequent optimal performance in general.
Currently demand for loan officers high enough. Lending experts carry out their activities not only on the territory of the bank, but also at points of sale, mortgage centers. That is why the position is quite relevant. The banks themselves are interested in workers in this area. The future bright future of a banking institution largely depends on the level of professionalism and productivity of the loan officer.
In the long term, the career growth of a loan officer who has started outside the bank can begin with a transfer to the head office, in particular, to the lending department. Where the main tasks are to identify the solvency of candidates, work with documentation, accrual, write-off of interest from the accounts of citizens and other operations. With hard work, it is possible to be promoted to a senior specialist of a department, deputy head of a department, then a head of a department and director of a branch of a banking institution.
Personal requirements for the candidate
The main requirements The following are considered to be personal qualities for the position of a credit specialist:
- analytical mind;
- honesty;
- tact;
- sociability, benevolence, openness in dealing with people;
- responsibility;
- perseverance;
- resistance to stressful situations, equanimity;
- speed in decision making;
- desire to work and study.
The task a loan officer is not only paperwork, but also the ability to find an individual approach to a citizen of any category. In addition, the responsibility for choosing a reliable client and completing the transaction also rests on the shoulders of a loan specialist. That is why, when choosing an employee for this position, special attention is paid to his personal qualities.
In addition to specific human characteristics, it is necessary to have a set professional skills and certain knowledge... This includes the following requirements:
- availability of a knowledge base concerning the promotion of bank services in the direction of lending;
- awareness of all available loan products;
- the ability to correctly and correctly assess the reliability and solvency of the candidate;
- striving to promote the culture of the banking institution.
In other words, a loan officer must be competent in all lending matters.
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Job responsibilities
According to labor regulations of most banks to the list job duties loan specialist includes the following functions:
- familiarization of the candidate with the nuances of providing the service, a detailed story about various programs for obtaining a loan and choosing the most suitable one for the client;
- calculation of the amount of the loan provided and the amount of the monthly payment on it;
- receiving applications from clients for a loan and their further analysis;
- assessment of the risk of non-payment of debt by the client with further assignment of an appropriate credit rating;
- confirmation of authenticity and presence required documents with further transfer to the appropriate unit for security checks;
- transfer of documents to economic service;
- sending an application to the credit commission;
- preparation of an appropriate package of papers;
- conclusion and signature of an agreement with a client;
- accompaniment. In other words, control over the timely payment of installments on the loan;
- drawing up reports.
It should be noted that the loan officer does not directly search for a candidate. The employee carries out activities with an existing client.
Rights and responsibilities
To the list rightprovided to a loan officer include:
- provision of social guarantees provided by law;
- acquaintance with the decisions of the organization's executives in relation to the activities of the loan officer;
- the possibility of demanding all kinds of assistance from the management in the performance of their immediate duties;
- informing the manager regarding projects about improving the methods of the work performed by the employee;
- the possibility of demanding an improvement in working conditions;
- increasing professional skills, qualifications.
Responsibilityassigned to the loan officer includes the following items:
- for non-fulfillment or improper fulfillment of the duties established;
- for causing material harm to the employer;
- for violation ;
- for offenses that take place during the period of the employee's employment.
What to note in the resume for the applicant for this position
The position of a loan specialist is currently very relevant and in demand on the labor market.
To receive an invitation, you must pre-apply.
To interest the employer, the following points should be indicated:
Most often, when choosing future employees of the lending department, managers pay attention to the presence of economic education, confidence in conversation, and also a pleasant appearance. Undoubtedly, applicants with experience with banking products have priority, but energetic young people with no experience often also get the opportunity to try themselves in the field of loans. Especially considering the fact that the demand for lending specialists is quite high.
Features of the position in various fields
The specifics of the work of a loan specialist is such that the workplace may not be in the office of a banking institution. It can be a car dealership, a shopping center, a mortgage lending office.
In general, the peculiarities of certain areas of lending are only in the knowledge of the product for which the client wishes to apply for a loan. For example, an employee of the auto lending department deals with the execution of transactions regarding automotive products.
A loan officer, whose workplace is located in communication salons or electronics sales centers, concludes a loan only for the specified product.
The same applies to specialists in mortgage lending... The points of sale of the bank's products provide for the sale and consulting directly on the issuance of credit cards.
At the same time, the official duties are identical, the only difference is in the product for which the loan is issued.
In any case, employees whose activities are related to the issuance of loans are required to know all existing lending programs and be able to competently sell accompanying lucrative offers, notify about promotions. In addition, you should be guided in all the nuances and be able to find a professional answer to any question that a client has.
The position of a loan officer is quite relevant at the moment. Managing officials, realizing that employees of this area are practically the face of a banking institution, make quite serious demands on candidates. It is not surprising that the productive work of loan officers brings profit to the bank and only increases the confidence of citizens.
Sales rules banking services covered in the following training video:
Among all banking professions the position of a loan officer is a special item, since a bank is, first of all, a financial and credit institution. The consistency of the bank depends on the skillful work of these employees, i.e. the ability to increase your loan portfolio, while improving its quality and thereby reducing the percentage of overdue debt.
In modern practice credit specialist may also be named or loan officer... Even from the very name of the profession, it can be concluded that a loan officer is a bank employee who must:
Know and promote the bank's policy in providing borrowed money;
- Skillfully navigate loan products, offering potential borrowers the most suitable one;
- have logical thinking and the ability to assess the reliability of the client;
- make decisions and be responsible for them.
In other words, a loan officer must be an expert in all matters related to lending (from the stage of accepting an application to the moment the agreement expires).
Responsibilities of a loan officer
- Informing the potential borrower about the existing options for obtaining a loan and choosing the best one (in the absence of a consultant position in the bank, but even if such skills are available);- calculation of the loan amount and the amount of monthly payments to pay off the debt;
- acceptance of an application for a loan;
- checking the availability of the necessary documents;
- non-repayment of the loan and assignment of the appropriate class or rating to the borrower;
- transfer of a package of documents to the security service and the economic service of the bank;
- submission of an application for consideration by the credit committee;
- preparation of documentation (loan agreements, surety, pledge; payment schedule; various applications (for example, for withholding the amount to pay off the debt from wages or writing off from plastic card);
- signing a contract;
- support of the contract, i.e. the need to monitor the timeliness of debt payment (in large banks a special department is created for this purpose).
A loan officer must also have a certain intuition and psychologist skills, so that sometimes already during a conversation, he can determine whether the intentions of a potential borrower are pure. In this regard, employees of credit departments are periodically sent to special psychological courses.
Loan Officer - Personal Qualities
Due to constant communication with clients, a loan officer must have a number of personal qualities: communication skills, tact, responsibility, adherence to banking principles, a desire to work with people, emotional stability.The task of a loan officer is not just to issue a loan, but to complete a deal with a reliable borrower, thereby providing the bank with both a return on funds and a certain level of income. For the greatest competence and quick satisfaction of the needs of borrowers, specialists in credit work are often divided by type of lending. Some, for example, are exclusively engaged in mortgage programs or even routines such as others like consumer loans, etc. This allows employees to learn all the subtleties and nuances of a loan product and skillfully apply this knowledge in practice.
The profession of a loan officer is in wide demand today. Banks have reasonably high demands on the level and quality of work of these employees. For the borrower, they are the person credit institution... For the organization itself, it is one of the main links of the entire mechanism. This link should in no case be weak, otherwise the stable operation of the bank as a whole may be under threat.
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