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
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
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
  • 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
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Top-ranked online MBA
  • As few as 24 months to complete
  • GMAT waivers for experienced professionalsin 24 months.
  • Bachelor’s degree required
  • Six concentrations available
  • AACSB accredited
  • Online Courses
1 Program(s) Found
  • Join UC Berkeley Executive Education’s Blockchain online program to explore the possibilities.
  • Blockchain is the underlying technology that makes crypto currencies like Bitcoin and Ripple possible
  • Learn block chain with UC Berkeley Executive Education online.
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • 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.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
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
  • 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
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Top-ranked online MBA
  • As few as 24 months to complete
  • GMAT waivers for experienced professionalsin 24 months.
  • Bachelor’s degree required
  • Six concentrations available
  • AACSB accredited
  • Online Courses
1 Program(s) Found
  • Online program in HR Management and Analytics from Wharton
  • Two-month online program by Wharton: Learn the latest HR Management and Analytics techniques to improve performance. Live faculty sessions.
  • Learn through case studies and examples from automotive to banking.
  • Custom exercises and moderated discussion make for interactive learning.
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!