Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Financial Loan Managers Job Description

Job Descriptions October 27, 2013

Financial loan managers are working professionals who have progressed to the point where they are qualified to work as managers. Workers in this field come from the same career path as a financial loan specialist or loan agent. Their job is to help borrowers find contracts that give them the loan they need.

The loan agent is in charge of bringing the contract to the higher-positioned associates, who ultimately approve the loan. However, these professionals must make sure that the loan is approved within the stated limits and must consult with management regarding changes.

A Managerial Path for Loan Officers

This career path is all about negotiating and getting along with people. Agents meet with applicants and preside over a question and answer session. This is when the borrower answers questions about finances, credit, property and other pertinent information. The borrower learns the different type of loans available and what the terms of service would be.

The financial loan officer then compiles all necessary documentation and calculates payment schedules. Other duties covered include handling customer complaints, addressing clients’ questions, helping underwriters create the contract, and helping people who have delinquent loans.

Considering that the job position is a financial loan manager, this indicates seniority – the worker who learns the system and then qualifies for more responsibility, namely in the vein of management. Managers have additional obligations. They must establish relationships and address customer issues just the same, but they also oversee training programs and recruit new employees, while evaluating loan applications. Since they are ultimately in charge of overseeing cash flow, this is a position of significant responsibility.

These managers maintain professional relationships with clients, direct the activities of multiple departments, and report back to executives on the goings of this side of the business. Managers are very often trusted to market bank products, set policies regarding credit, identify potential loan markets, send reports out and handle minor courtroom activity, concerning the transferring of titles and deeds.

A Day in the Life of a Financial Loan Manager

A financial loan manager’s day is filled with supervisory tasks, as well as picking up after officers when needed. Managers may meet with loan applicants and arrange for an interview, and analyze and approve the work of officers that negotiate a deal. Managers and officers alike may assist with underwriting, and work with professional underwriters to develop loan needs and the client’s ability to pay back the loan.

This may involve learning new software, in addition to learning existing formulas that have been proven to work. Lastly, keep in mind that there are specializations within this industry, including commercial, consumer, mortgage, and collections.

This may be the next step for you if you are serious about wanting a career change, and willing to do whatever it takes to succeed. Just so you know, you don’t have to push yourself beyond what is reasonable. Go back to school for a four-year degree and watch the tide turn in your favor!

Searching Searching ...

Matching School Ads
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
South University , Glen Allen
  • Program options include Accounting, Business Administration, Leadership, and more.
  • Curriculum focuses on developing leadership, critical thinking, problem-solving, and communication skills.
  • Programmatic accreditation by the Accreditation Council for Business Schools and Programs (ACBSP) at select campuses.
  • Business programs are available at many of the 11 campus locations across the United States.
Good for Working Adults
  • Flexible Scheduling
  • Financial Aid
1 Program(s) Found
  • Campus-based and online business programs include Entertainment Business (BS), Internet Marketing (BS), and Business Intelligence (MS)
  • Students will explore business concepts like marketing, global media management, and business technology and design
  • Courses designed to prepare students for a career in business and Career Development advisors available to all alumni
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average
  • Online Courses

Searching Searching ...

Matching School Ads
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
1 Program(s) Found
  • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
  • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
  • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!