A banking and commercial loan processing manager is responsible for managing all staff involved in processing and closing loans, are the final authority on approval of loans, and is usually responsible for generating new business for the organization they work for.
A banking and commercial loan processing manager must be familiar with every aspect of loan application, process, and closing for any type of loan the company they work for is involved with.
Becoming a banking and commercial loan processing manager requires a combination of experience and education. Adept skills in managing staff and dealing directly with customers are also assets for the position. Familiarity with accounting software, word processing, and smart-phone apps are a must. Well-developed presentation skills are an asset because the banking and commercial loan processing manager is often required to make presentations to upper management and compose reports.
The minimum educational requirements for banking and commercial loan processing managers are a bachelor’s degree in business, finance, economics, or a related field. A master’s in business administration is highly preferable for upper level positions.
Experience in real estate and the insurance business is usually transferable to the position of banking and commercial loan processing manager. Beginning a career in banking as a loan processing clerk and advancing to the position of banking and commercial loan processing manager is a frequent career path for this position.
Most organizations have a defined training process for banking and commercial loan processing manager that includes working for a period of time in each function and department involved with making and processing loans. This training familiarizes a person with the work that their subordinates do and allow a new hire to become familiar with the accounting methods and computer systems the organization uses. The candidate also acquires a familiarity with customers in this process.
Because banking and commercial loan processing managers work with people at all levels of the organization and with customers and clients that have diverse interests and needs, people skills are a must have for success. Some organizations offer training in personnel management, customer service, and sales and some may require that the prospective banking and commercial loan processing manager take courses that develop their people skills and sales skills.
Personal traits necessary for success as a banking and commercial loan processing manager include scrupulous honesty, attention to detail, the ability to prioritize and schedule, and being goal oriented.
A person becomes a banking and commercial loan processing manager by acquiring the necessary education and skills and by proving their ability to manage people and tasks and to meet goals.