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Banking & Commercial Loan Processing Manager Job Description

Job Descriptions November 24, 2013

The Loan Processing Manager job description is a broad category that can progress from a simple definition of a Commercial Banking Credit Counselor, Loan Officer, or Loan Processing Manager. A quick search of authoritative professional web sites such as the U.S. Bureau of Statistics or the U.S. News and World Report will bring back a plethora of possible definitions. Many of the definitions will be based on education, experience and salary requirement, the following paragraph is a typical job description found on many job search forums.

The Banking and Commercial Loan Processing Manager is responsible for managing all aspects of business loan and commercial banking application, processing and closing. Will lead and direct others in the loan process and approval. May require a bachelors degree or higher and a minimum of 4 years experience as a loan officer or similar field.

Will rely on extensive experience and skill of judgment to plan and accomplish financial goals. Will performs a variety of tasks while overseeing the work of others. A wide degree of creativity and latitude is given. Candidate will typically report to top Executive Management.

The February 210 SOC definitions updated in January 2013 and published on the U.S. Bureau of Labor Statistics on behalf of The Standard Occupational Classification Policy Committee (SOCPC) categories loan officer under the heading Business and Financial Operations Occupations. Sub category placed under Financial Specialist and describes the loan officer job classification as one whom: Evaluates, authorizes or recommends approval of commercial, real estate or credit loans. You will advise borrowers on financial status and payment methods. The definition includes mortgage loan officers, agents, collection analyst, loan underwriters and loan servicing officers.

A loan processing clerk, on the other hand, may be described as performing routine administrative tasks in support of the commercial banking and loan processing group. Tasks may include preparing credit reports, responding to simple applicant questions and maintaining applications and records. Will generally need a high school diploma and at least one to two years of experience is a related field. Has knowledge of commonly used terminology and practices within the business field.

As can be inferred from the above discussion of job classifications and descriptions the individual who has financial loan clerk, officer or agent experience can fall between one of several job definitions. It is important to read job descriptions carefully when discerning if one’s qualifications fall within the parameters and are equivalent to one’s own experiences. Financial Institutional Employers have a range of requirements for the position of Banking and Commercial Loan Processing Manager, which may or may not require a bachelor’s degree and may or may not require any previous supervisory experience.

The business world is an exciting and fast past market place. The position of Business and Commercial Loan Processing Manager requires a mind set of authority and due diligence. Superior logic and mathematical control are paramount, along with a healthy understanding current business legislation and chain of command.

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Quick Fact
In 2017, workers with a bachelor's degree or higher had almost twice as much
median earnings per week than workers with only a high school diploma*.
*Bureau of Labor Statistics

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