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How to Become a Consumer Loan Area Manager

Career News January 17, 2014

Not everybody can be a leader, nor does everybody want to be a leader in their field. For the ones that do have this ambition, it’s comforting to know that the pay is better, and you have plenty of room for advancement. Consider the consumer loan area manager position, which gives you the chance to use your best analytical and motivational qualities.

An area management position is distinctly different from other types of consumer loan manager positions in that it encompasses a wide region. The consumer loan area manager oversees multiple branches of their company to ensure appropriate loan practices are being followed. Their position gives the responsibility for exercising consumer lending practices in compliance with all Federal and State guidelines, rules and regulations.

What Will You Be Doing?

The consumer loan area manager ensures the efficient approval, booking, and processing of all consumer loans. The area manager is responsible for maintaining credit quality and for upholding application processing standards within their company’s guidelines.

Duties of the consumer loan area manager entail collaboration with other managers, including those across the lines of business management for enhancing or improving customer services. They may recommend changes and additions to loan programs so as to increase loan growth while balancing risks. The area manager presides over consumer loan panel meetings to review loan policy exemptions and denials.

Educational Requirements

Becoming a loan area manager requires a bachelor’s degree in finance or a related field, as well as a minimum of ten years experience in banking practices. The preferred background is in loan operations servicing or collection organization.

Area managers must have extensive knowledge in computer software, its availability and new financial software programs. They must research software programs and consult with vendors for up to date information regarding new technologies that may be applied to more efficient application processing.

Prove Yourself a Leader

Consumer loan area managers must exhibit strong leadership skills as they are expected to promote teamwork and cooperation with the Consumer Lending Department and their companies. They develop performance driven rewards programs that will foster teamwork and promote individual accountability.

Their duties include interviewing and selecting candidates for employment. They train, monitor, coach, develop and evaluate staff. They work with the marketing team and participate in the development of consumer lending sales promotions. They may be required to participate in training programs, conduct senior member seminars, and present webinars for consumer lending.

Candidates for the position of consumer loan area manager must possess a full range of lending knowledge, its practices, and procedures. They must have strong operational skills and a proven ability to work with assignments that are complex, interpretative, and evaluative in nature. While the duties and responsibilities of a consumer loan area manager are extensive, the economic benefits are satisfying, with a median salary of $150,000 a year. That is a formidable quote in an industry that only seems to improve during recession.

Are you interested in making a real change this year? Choose a lucrative field and take firm steps in the direction of upper management.

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5 Program(s) Found
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 87% of Liberty University students receive some form of financial aid
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  • Transferable Credits
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  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
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  • Regent is ranked among Top National Universities by U.S. News & World Report, 2019.
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  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
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  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
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  • Students also gain valuable work experience having gone through real case studies from Fortune 100 companies.
  • By utilizing compressed, objective-driven courses, you can complete your education in nearly half the time of a similar program at a traditional college or university.
  • Each of our courses are designed to include scenario-based activities. You get to practice what you learn so you're ready for the challenges you will face when you graduate.
  • Our graduates enter the workforce with experience employers desire in addition to a credible degree.
  • Don't settle for learning in large lecture halls. Get the attention needed to succeed.
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