Occupation information for Loan Officers District Of Columbia

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Typical education needed for entry: Bachelor's degree

Typical work experience needed for a job in this occupation: Less than 5 years work experience

Typical on-the-job training once you have a job in this occupation: 1 to 12 months on-the-job training

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• 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.
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
• Review and update credit and loan files.
• 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.

Tools:

• Autodialers
• Desktop calculator
• Desktop computers
• Notebook computers
• Personal computers

Technology:

• Accounting software
• Content workflow software
• Data base user interface and query software
• Enterprise resource planning ERP software
• Financial analysis software

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