Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

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.

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • 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
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Founded in 1949 as a private, accredited, nondenominational Christian university located in Phoenix, Arizona.
  • Its student-faculty ratio is 16:1 and 33.9% of its classes have fewer than 20 students.
  • Encourages students to find their purpose in Christ, with an emphasis on applying Christian values and ethics to the workplace.
  • Provides Student Success Webinars where tutors provide tips and tricks to help make college a little easier.
  • Offers programs in business, psychology, theology, engineering, communications, and more.
  • Online Courses
5 Program(s) Found
  • Earn a 100% Online Masters Degrees at ACU
  • Take Your Professional Career To The Next Level With An Online Graduate Degree
  • Online Courses
2 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Everglades University
  • Earn a Degree in Renewable Energy, Online or On-Campus. Get Info!
  • Are You a Natural Leader or Good with Numbers? Get Educated in the Business Field.
  • Build the Capabilities and Connections to Power Your Future.
  • Business Administration & Management, Accounting, Marketing Degree Programs and More From Top Colleges that Fit Your Needs.
  • Find Schools Online or Near You & Get Info for FREE Today!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • 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
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Founded in 1949 as a private, accredited, nondenominational Christian university located in Phoenix, Arizona.
  • Its student-faculty ratio is 16:1 and 33.9% of its classes have fewer than 20 students.
  • Encourages students to find their purpose in Christ, with an emphasis on applying Christian values and ethics to the workplace.
  • Provides Student Success Webinars where tutors provide tips and tricks to help make college a little easier.
  • Offers programs in business, psychology, theology, engineering, communications, and more.
  • Online Courses
5 Program(s) Found
  • Earn a 100% Online Masters Degrees at ACU
  • Take Your Professional Career To The Next Level With An Online Graduate Degree
  • Online Courses
2 Program(s) Found
  • Our online program blends modern business theory with real-world applications
  • SACS accredited with associate's, baccalaureate, & master's degrees & diplomas
  • US News & World Report ranks Online Bachelor’s Programs among top 10%
  • Ranked one of the best for vets business schools by Military Times
  • Qualifying students can take faith in EPCI’s unwavering Fixed Tuition Pledge
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Everglades University
  • Earn a Degree in Renewable Energy, Online or On-Campus. Get Info!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!