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Loan Officers

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

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    Work Activities

    Work Activities

    • Review and update credit and loan files.
    • Compute payment schedules.
    • Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
    • Review and update credit and loan files.
    • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
    • Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
    • Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
    • Analyze potential loan markets and develop referral networks to locate prospects for loans.
    • Meet with applicants to obtain information for loan applications and to answer questions about the process.
    • Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
    • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
    • Submit applications to credit analysts for verification and recommendation.
    • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
    • Review loan agreements to ensure that they are complete and accurate according to policy.
    • Work with clients to identify their financial goals and to find ways of reaching those goals.
    • Handle customer complaints and take appropriate action to resolve them.
    • Supervise loan personnel.
    • Set credit policies, credit lines, procedures and standards in conjunction with senior managers.

    Skills

    • Installation

      Installing equipment, machines, wiring, or computer programs.

    • Technology Design

      Making equipment and technology useful for customers.

    • Equipment Selection

      Deciding what kind of tools and equipment are needed to do a job.

    • Operation and Control

      Using equipment or systems.

    • Management of Personnel Resources

      Selecting and managing the best workers for a job.

    • Persuasion

      Talking people into changing their minds or their behavior.

    • Repairing

      Repairing machines or systems using the right tools.

    • Time Management

      Managing your time and the time of other people.

    • Programming

      Writing computer programs.

    • Management of Material Resources

      Managing equipment and materials.

    • Monitoring

      Keeping track of how well people and/or groups are doing in order to make improvements.

    • Instructing

      Teaching people how to do something.

    • Equipment Maintenance

      Planning and doing the basic maintenance on equipment.

    • Negotiation

      Bringing people together to solve differences.

    • Critical Thinking

      Thinking about the pros and cons of different ways to solve a problem.

    • Active Listening

      Listening to others, not interrupting, and asking good questions.

    • Learning Strategies

      Using the best training or teaching strategies for learning new things.

    • Writing

      Writing things for co-workers or customers.

    • Systems Evaluation

      Measuring how well a system is working and how to improve it.

    • Mathematics

      Using math to solve problems.

    • Complex Problem Solving

      Noticing a problem and figuring out the best way to solve it.

    • Judgment and Decision Making

      Thinking about the pros and cons of different options and picking the best one.

    • Coordination

      Changing what is done based on other people's actions.

    • Systems Analysis

      Figuring out how a system should work and how changes in the future will affect it.

    • Active Learning

      Figuring out how to use new ideas or things.

    • Management of Financial Resources

      Making spending decisions and keeping track of what is spent.

    • Operations Monitoring

      Watching gauges, dials, or display screens to make sure a machine is working.

    • Service Orientation

      Looking for ways to help people.

    • Troubleshooting

      Figuring out what is causing equipment, machines, wiring, or computer programs to not work.

    • Social Perceptiveness

      Understanding people's reactions.

    • Operations Analysis

      Figuring out what a product or service needs to be able to do.

    • Quality Control Analysis

      Testing how well a product or service works.

    • Speaking

      Talking to others.

    • Reading Comprehension

      Reading work-related information.

    • Science

      Using scientific rules and strategies to solve problems.

    WorkKeys®

    Applied Math
    5
    Workplace Documents
    5
    Graphic Literacy
    4

    Abilities

    • Far Vision

      Seeing details that are far away.

    • Deductive Reasoning

      Using rules to solve problems.

    • Category Flexibility

      Grouping things in different ways.

    • Visualization

      Imagining how something will look after it is moved around or changed.

    • Selective Attention

      Paying attention to something without being distracted.

    • Response Orientation

      Quickly deciding if you should move your hand, foot, or other body part.

    • Speed of Limb Movement

      Quickly moving your arms and legs.

    • Visual Color Discrimination

      Noticing the difference between colors, including shades and brightness.

    • Peripheral Vision

      Seeing something to your side when your are looking ahead.

    • Trunk Strength

      Using your lower back and stomach.

    • Static Strength

      Lifting, pushing, pulling, or carrying.

    • Depth Perception

      Deciding which thing is closer or farther away from you, or deciding how far away it is from you.

    • Hearing Sensitivity

      Telling the difference between sounds.

    • Glare Sensitivity

      Seeing something even if there is a glare or very bright light.

    • Speech Clarity

      Speaking clearly.

    • Auditory Attention

      Paying attention to one sound while there are other distracting sounds.

    • Dynamic Flexibility

      Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.

    • Dynamic Strength

      Exercising for a long time without your muscles getting tired.

    • Originality

      Creating new and original ideas.

    • Fluency of Ideas

      Coming up with lots of ideas.

    • Information Ordering

      Ordering or arranging things.

    • Mathematical Reasoning

      Choosing the right type of math to solve a problem.

    • Memorization

      Remembering words, numbers, pictures, or steps.

    • Speed of Closure

      Quickly knowing what you are looking at.

    • Spatial Orientation

      Knowing where things are around you.

    • Manual Dexterity

      Holding or moving items with your hands.

    • Finger Dexterity

      Putting together small parts with your fingers.

    • Rate Control

      Changing when and how fast you move based on how something else is moving.

    • Reaction Time

      Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.

    • Gross Body Equilibrium

      Keeping your balance or staying upright.

    • Explosive Strength

      Jumping, sprinting, or throwing something.

    • Written Comprehension

      Reading and understanding what is written.

    • Oral Comprehension

      Listening and understanding what people say.

    • Extent Flexibility

      Bending, stretching, twisting, or reaching with your body, arms, and/or legs.

    • Oral Expression

      Communicating by speaking.

    • Written Expression

      Communicating by writing.

    • Near Vision

      Seeing details up close.

    • Gross Body Coordination

      Moving your arms, legs, and mid-section together while your whole body is moving.

    • Speech Recognition

      Recognizing spoken words.

    • Night Vision

      Seeing at night or under low light.

    • Sound Localization

      Noticing the direction that a sound came from.

    • Stamina

      Exercising for a long time without getting out of breath.

    • Problem Sensitivity

      Noticing when problems happen.

    • Inductive Reasoning

      Making general rules or coming up with answers from lots of detailed information.

    • Number Facility

      Adding, subtracting, multiplying, or dividing.

    • Flexibility of Closure

      Seeing hidden patterns.

    • Perceptual Speed

      Quickly comparing groups of letters, numbers, pictures, or other things.

    • Time Sharing

      Doing two or more things at the same time.

    • Arm-Hand Steadiness

      Keeping your arm or hand steady.

    • Control Precision

      Quickly changing the controls of a machine, car, truck or boat.

    • Multilimb Coordination

      Using your arms and/or legs together while sitting, standing, or lying down.

    • Wrist-Finger Speed

      Making fast, simple, repeated movements of your fingers, hands, and wrists.

    Knowledge

    • Fine Arts

      Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.

    • History and Archeology

      Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.

    • Law and Government

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

    • Personnel and Human Resources

      Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information 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.

    • Physics

      Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.

    • Biology

      Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.

    • Psychology

      Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.

    • Chemistry

      Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.

    • English Language

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

    • Building and Construction

      Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.

    • Medicine and Dentistry

      Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.

    • Public Safety and Security

      Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.

    • Geography

      Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.

    • Philosophy and Theology

      Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.

    • Education and Training

      Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

    • Administration and Management

      Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

    • Food Production

      Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.

    • Sociology and Anthropology

      Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.

    • Telecommunications

      Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.

    • Communications and Media

      Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.

    • Therapy and Counseling

      Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.

    • Mathematics

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

    • Mechanical

      Knowledge of machines and tools, including their designs, uses, repair, and maintenance.

    • Foreign Language

      Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.

    • Transportation

      Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.

    • Production and Processing

      Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.

    • Economics and Accounting

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

    • Engineering and Technology

      Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.

    • 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.

    • Design

      Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.

    • Administrative

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

    • Computers and Electronics

      Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

    Career Video

    Additional videos and more information available on CareerOneStop

    Pay

    • Ohio Annual Salary 62320/yr
    • Typical Salary
    • Ohio Hourly Wage 29.96/hr
    • Typical Hourly Wage

    Ohio Employment Trends

    • Currently Employed 12,020
    • Yearly Projected Openings 910

    Typical Education

    Personality

    Conventional: People interested in this work like activities that include data, detail, and regular routines.They do well at jobs that need:
    • Integrity
    • Dependability
    • Cooperation
    • Attention to Detail
    • Adaptability/Flexibility
    • Initiative

    Tools

    • Autodialers
    • Desktop calculator
    • Desktop computers
    • Notebook computers
    • Personal computers
    • Personal digital assistant PDAs or organizers
    • Scanners
    • Tablet computers

    Technology

    • Accounting software
    • Compliance software
    • Content workflow software
    • Customer relationship management CRM software
    • Data base user interface and query software
    • Development environment software
    • Document management software
    • Electronic mail software
    • Enterprise resource planning ERP software
    • Financial analysis software
    • Information retrieval or search software
    • Internet browser software
    • Office suite software
    • Presentation software
    • Spreadsheet software
    • Transaction server software
    • Video conferencing software
    • Word processing software

    Tags

    • InDemand occupations are considered a priority by the state of Ohio.
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    Workforce Supply Tool

    Workforce Supply Tool

    The Workforce Supply Tool provides statistics for the occupations in highest demand throughout Ohio.

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