Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Commercial Loan Manager Job Description

Job Descriptions December 29, 2013

The commercial loan manager is a senior level member of the loan officer team and can make well over $130,000 per year according to the Certified Compensation Professionals HR report. The manager works his or her way up from a loan officer position, and thus acquires know-how and experience from working in the office under the supervision of a manager. The manager directs a team of loan officers and assumes responsibility for soliciting and all final transactions. He or she works closely with review managers and clerks to verify all information.

What Managers Are Required to Know

Managers are required to know how the loan office works, meaning they have personal experience working with clients (as a loan officer) and understand how to start the loan process, how to gather the needed information, and what is required to approve a loan within a specific limit. The manager can overstep the limit, unlike a loan officer, but remains responsible to the company for this action. He or she also knows what criteria is needed to pass a loan and what the auditors and business owners will need to see, in terms of profitability and risk management.

Because the loan manager has a history working with clients, he/she has empathy for their situation and can make better judgments that protect both potential borrowers and the company that ultimately risks the money. Managers delegate power to loan officers and other office personnel regarding credit searches, assembling an application, interviewing subjects, and researching collateral.

Training loan officers is not your particular call of duty, but it’s definitely within your job description to educate loan officers who are making mistakes or who are falling behind either because of over-qualifying or under-qualifying applications. You mostly work in an office, since loan officers do much of the legwork associated with contacting clients. The loan officers bring the details to you, expecting approval and any notes of criticism. The worst mistake for a manager to make would be to approve a loan without first verifying all the details—taking the word of a subordinate rather than making sure of the contract personally.

Education, Skills and Talents That Come in Handy

This immediately suggests that attention to detail is a prerequisite for this job. Also, the loan officer is expected to have a bachelor’s degree from a reputable school so a manager’s position favors the same, or perhaps even an MBA for the competitive edge. Study a related field such as finance, business, or economy. Build a resume of work experience and make sure to seek licensing through the proper channels. Federal licensing actually requires some hours of verified education, while states maintain the right to add additional hours for continuing education and work experience.

Innate abilities, as well as learned people skills, are also very helpful. Having the capacity to lead others, to inspire a team, and to use your creativity to influence others makes you management material. At the same time, a quality manager has a degree of flexibility and is approachable, not merely setting down rules, but opening his/her mind to ideas from loan officers, clerks, and reviewers.

It’s time to take your career seriously by training for a rewarding managerial career. Attending a trusted university is the first step.

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
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Topped the list as Best Online Bachelor’s Program in Virginia by U.S. News & World Report in 2019.
  • Regent is ranked among Top National Universities by U.S. News & World Report, 2019.
  • Flexible online, on-campus and evening courses offered in 135 areas of study, including Business, Nursing, Psychology, & more.
  • Regent is recognized among Top #10 Military Friendly Schools by Military Friendly®, 2019.
  • 88% of Regent University students receive financial aid, with $24 million awarded in institutional scholarships & aid in 2017-18.
  • Online Courses
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
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Separate yourself from the pack by completing one of Saint Leo’s highly-rated Business degree programs. Associates, Bachelors, and Graduate degrees in highly sought-after concentrations available!
  • Learn the necessary skills and build the foundation to propel your business career by receiving an education from our faculty members with true real-world experience.
  • Saint Leo University provides academic excellence, flexibility, affordability, and a wide range of educational programs with financial aid and scholarships available to those who qualify.
  • Saint Leo offers a 14:1 Student-Teacher Ratio to ensure you get the personal attention you deserve.
  • Learn on your schedule with our 6 convenient available start dates throughout the year. Get started on earning your accredited Business degree today!
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Topped the list as Best Online Bachelor’s Program in Virginia by U.S. News & World Report in 2019.
  • Regent is ranked among Top National Universities by U.S. News & World Report, 2019.
  • Flexible online, on-campus and evening courses offered in 135 areas of study, including Business, Nursing, Psychology, & more.
  • Regent is recognized among Top #10 Military Friendly Schools by Military Friendly®, 2019.
  • 88% of Regent University students receive financial aid, with $24 million awarded in institutional scholarships & aid in 2017-18.
  • Online Courses
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
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Separate yourself from the pack by completing one of Saint Leo’s highly-rated Business degree programs. Associates, Bachelors, and Graduate degrees in highly sought-after concentrations available!
  • Learn the necessary skills and build the foundation to propel your business career by receiving an education from our faculty members with true real-world experience.
  • Saint Leo University provides academic excellence, flexibility, affordability, and a wide range of educational programs with financial aid and scholarships available to those who qualify.
  • Saint Leo offers a 14:1 Student-Teacher Ratio to ensure you get the personal attention you deserve.
  • Learn on your schedule with our 6 convenient available start dates throughout the year. Get started on earning your accredited Business degree today!
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!