Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

1. Approve loans within specified limits, and refer loan applications outside those limits to management for approval.

2. Meet with applicants to obtain information for loan applications and to answer questions about the process.

3. Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.

4. Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.

5. Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.

6. Review and update credit and loan files.

7. Review loan agreements to ensure that they are complete and accurate according to policy.

8. Compute payment schedules.

9. Stay abreast of new types of loans and other financial services and products to better meet customers' needs.

10. Submit applications to credit analysts for verification and recommendation.

11. Handle customer complaints and take appropriate action to resolve them.

Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Time Management - Managing one's own time and the time of others.

Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Persuasion - Persuading others to change their minds or behavior.

Speaking - Talking to others to convey information effectively.

Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.

Service Orientation - Actively looking for ways to help people.

Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Job Zone Three: Medium Preparation Needed

Education: Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree. Some may require a bachelor's degree.

Training: Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers.

The college search results are undergraduate programs associated with Loan Officers. Further education may also be required to pursue this career.

The training search results include both short and long-term programs associated with Loan Officers, and may be more appropriate for adult and non-traditional students. Further training may also be required to pursue this career.

In NY the average wage for this occupation was:

$37,660 (per year) for entry level workers, and $95,180 (per year) for experienced workers.

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Based on the total number of annual openings and its growth rate, the employment prospects for this occupation are described as Least Favorable.

During 2006, there were approximately 13,890 Loan Officers employed in NY.

We estimate that in 2016 there will be 13,760  employed in NY. This represents a decrease of 0 job(s) each year, and a total of 150 job openings each year.

Loan counselors and officers - Visit this link for additional information on this career from the Occupational Outlook Handbook; a publication produced and maintained by the United States Department of Labor.

Credit Analysts - Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.

Financial Analysts - Conduct quantitative analyses of information affecting investment programs of public or private institutions.

Personal Financial Advisors - Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives to establish investment strategies.

Tax Examiners, Collectors, and Revenue Agents - Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

Tax Preparers - Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.

Billing, Cost, and Rate Clerks - Compile data, compute fees and charges, and prepare invoices for billing purposes. Duties include computing costs and calculating rates for goods, services, and shipment of goods; posting data; and keeping other relevant records. May involve use of computer or typewriter, calculator, and adding and bookkeeping machines.

Tellers - Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.

Brokerage Clerks - Perform clerical duties involving the purchase or sale of securities. Duties include writing orders for stock purchases and sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, distributing dividends, and keeping records of daily transactions and holdings.

Loan Interviewers and Clerks - Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

New Accounts Clerks - Interview persons desiring to open bank accounts. Explain banking services available to prospective customers and assist them in preparing application form.