Job and Salary of Consumer Loan Officer Bank

Job and Salary of Consumer Loan Officer Bank

Job and Salary of Consumer Loan Officer Bank

Job and Salary of Consumer Loan Officer Bank
Job and Salary of Consumer Loan Officer Bank

Evaluates applications for consumer loans and lines
of credit; interviews loan applicants and requests copies
of credit reports; may recommend terms of loans;
informs prospective borrowers of loan commitments

Alternate Title(s):Retail Lender, Consumer Loan Specialist

Salary Range US: $29,775 to $41,360
Salary Range Indo: –

Employment Prospects: Good

Prerequisites:
Education or Training—Four-year degree in business
administration, accounting, or finance, or general degree
with equivalent experience
Experience—Two to four years of experience in a lending
or sales environment
Special Skills and Personality Traits—Excellent interviewing,
organizational, and analytical skills; good computer
skills; good cross-selling and marketing skills;
must be familiar with federal and state laws and regulations
governing consumer loans, such as the Fair Credit
Reporting Act and Truth in Lending Act

Tips for Entry :
1. Expand your contact network through on-the-job
experience while attending college.
2. Check help-wanted ads for entry-level positions and
apply directly to the financial institution posting the ad.
3. Sales experience or credit experience in any industry
is helpful to a career in retail banking.

CAREER LADDER

Entry = Loan Clerk
Middle = Consumer Loan Officer
Top = Manager, Loan Department