Credit specialist: responsibilities for resumes. Official duties of a loan officer in a bank
Lending is one of the most popular services provided by banks. Financial institutions offer similar services to the public to meet various needs: from household appliances to residential space. Today it is impossible to imagine our life without the possibility of lending. After all, it allows you to carry out your plans even in the absence of money, be it opening your own business or buying a car.
What is lending
With the help of loans it has become much easier to organize and distribute money. Lending is engaged in commercial banks and financial institutions. Under each type of debt obligation there are certain conditionswhich include the amount of the minimum down payment, interest repayment of the loan, as well as the individual features that the borrower must have. Under each amount of cash issued, the bank makes certain requirements to the client, which it must meet.
The loan is issued not only to legal entities and individuals, another commercial bank can also act as a borrower.
Requirements for the quality of a loan officer
The success and productivity of the bank directly depend on the qualifications of its employees. Since the main income of the bank is the increase in resources, staff need to make every effort to ensure that the operation was profitable.
One of the most important official figures of the bank is a specialist in the credit department. His duties are to provide full information to the client about the loan. He also prepares and transfers bank commissions all the documents necessary for processing.
The loan officer, whose duties are to directly advise the client and conclude an agreement with him, must possess not only a number of professional skills, but also many human qualities, such as:
- A desire to work.
- The ability to think logically.
- The ability to intuitively identify a potential customer.
- A responsibility.
- Stress resistance.
- The ability to find a common language with each client.
The loan officer, whose duties are fundamentally different from the functions of managers and inspectors, does not look for clients, but concludes an agreement and accompanies the loan until it closes with existing clients. For greater profitability of the bank, the search for potential customers among legal entities and individuals is carried out by a special department.
The duties of a loan officer in a bank include:
- Informing potential customers about tariffs.
- Providing complete information about the conditions for obtaining a loan.
- Assist in choosing a loan.
- The calculation of the main indicators of the loan, such as: time, interest, minimum installment and payment schedule.
- Acceptance of applications for extradition.
- Checking the package of documents provided by the borrower.
- Assessing credit risk.
- Preparation of necessary papers and documents.
- Control of the process of issuing funds.
- Support of the transaction until the full repayment of the loan.
The loan officer, whose duties include all of the above, should also have a sufficient level of self-control, which may be necessary in unforeseen situations.
In this banking industry have the opportunity to work people who have graduated from the financial or economic faculty. Many banking institutions in this position take workers only with a diploma of higher education.
The duties of a loan officer imply constant communication between a bank employee and a borrower.
Training and retraining of professionals in this field is carried out directly by the financial institution. Many banks for better work divide credit specialists into subgroups. That is, each employee is assigned a separate category of goods in which he specializes. Some work exclusively with consumer loans for goods and services, others are engaged only in car loans. Also, you should separately select specialists for the issuance and maintenance of mortgages.
The division of specialists by type of credit is carried out in order to improve the quality of their work. After all, each of them should have not only common concepts relating to this area, but also thoroughly possess the regulatory aspects.
The loan officer, whose duties are also in charge of the transaction, should, if necessary, collect and prepare all the necessary documents for issuing any type of loan. The main such document is a loan agreement, which is filled in by the borrower and the banking institution.
The document specifies such points as:
- Borrower's agreement for a refund.
- The amount available.
- Penalties provided for violation of the rules of the contract.
The decision to issue a loan is made directly by the bank’s commission, the specialist only submits all the necessary documents. After approval, the expert accepts to support the transaction until the loan is fully repaid.
CV to apply for a job
The work of a specialist in this industry is worthy of respect. After all, constant contact with people, communication with them requires not only professional skills from an expert. This profession is considered very prestigious.It provides the opportunity for personal and career growth. Let's list the basic skills and duties of a loan officer for resumes.
In order to obtain a loan officer position, the following information should be included in the summary:
- Personal Information.
- Previous employment.
- The level of education.
- Types of loans with which the specialist is familiar.
- Work experience.
- The benefits of work.
- The level of knowledge of foreign languages.
- Professional skills.
- Personal qualities that can improve the process of work.
The work of a bank directly depends on the professional qualities and skills of its staff. Credit experts in this chain are not the least of all and know how to influence the success of the bank as a whole.