Commercial loan lending deals with business-related borrowing and whether or not an applicant should receive a business loan based on a number of factors. These types of loans are generally more comprehensive and complex than other loans, such as mortgage and consumer loans.
Loan officers and group/region managers should have a solid foundation in accounting, as well as interpersonal skills since so much of their work requires face-to-face meetings with loan applications, because the nature of business loans can be a rather complicated process. Loan officers and group/region managers must also excel in decision-making initiative.
According to the U.S. Bureau of Labor Statistics (BLS), the outlook for commercial loan officers and region managers is promising. As the economy revives and moves out of recession, the Bureau expects a 14% increase in job growth from 2010 to 2020, which is the average national projected increase for all places of employment. The Bureau’s projected job growth suggests that businesses will be more likely to apply for commercial loans, borrowing money for expansions, upgrades, and other business ventures. This will undoubtedly lead to more opportunities for commercial loan officers, thereby establishing the need for competent and qualified group/region managers.
Responsibilities for a group/region manager for commercial loans include overseeing commercial lending activity in a vertical industry market or a specific geographical location. This individual will supervise the lending activity and ensure that objectives and goals set by the company are achieved.
Not only will the manager make sure set goals are achieved, but s/he will also establish lending goals in accordance with the organization’s mission and evaluate performance levels of employees. In order to ensure that personnel within the different branches will be able to attain these goals, the group/region manager will make sure that all necessary tools are easily available.
For this managerial position, a candidate must be able to merge their experience with sound judgment in order to accomplish goals and must be able to work as a team player while leading and directing others. Creativity and high ambitions are a plus to execute the job duties efficiently.
A favorable candidate for group/region manager will have a bachelor’s degree in business, finance, economics, or some other related discipline and at least 10 years of experience in the field. Familiarity with financial concepts, practices, and procedures pertaining to commercial loans and business-lending is highly desirable. The group/region manager will report to top management.