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

    Skills

    • Negotiation

      Bringing people together to solve differences.

    • Programming

      Writing computer programs.

    • Management of Material Resources

      Managing equipment and materials.

    • Installation

      Installing equipment, machines, wiring, or computer programs.

    • Technology Design

      Making equipment and technology useful for customers.

    • Repairing

      Repairing machines or systems using the right tools.

    • Management of Personnel Resources

      Selecting and managing the best workers for a job.

    • Equipment Selection

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

    • Operation and Control

      Using equipment or systems.

    • Time Management

      Managing your time and the time of other people.

    • Monitoring

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

    • Critical Thinking

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

    • Learning Strategies

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

    • Active Listening

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

    • Writing

      Writing things for co-workers or customers.

    • Instructing

      Teaching people how to do something.

    • Persuasion

      Talking people into changing their minds or their behavior.

    • Equipment Maintenance

      Planning and doing the basic maintenance on equipment.

    • Complex Problem Solving

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

    • Systems Analysis

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

    • Judgment and Decision Making

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

    • Operations Monitoring

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

    • Management of Financial Resources

      Making spending decisions and keeping track of what is spent.

    • Coordination

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

    • Service Orientation

      Looking for ways to help people.

    • Systems Evaluation

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

    • Mathematics

      Using math to solve problems.

    • Active Learning

      Figuring out how to use new ideas or things.

    • Operations Analysis

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

    • Troubleshooting

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

    • Social Perceptiveness

      Understanding people's reactions.

    • Quality Control Analysis

      Testing how well a product or service works.

    • Science

      Using scientific rules and strategies to solve problems.

    • Reading Comprehension

      Reading work-related information.

    • Speaking

      Talking to others.

    WorkKeys®

    Applied Math
    5
    Workplace Documents
    5
    Graphic Literacy
    4

    Abilities

    • Peripheral Vision

      Seeing something to your side when your are looking ahead.

    • Depth Perception

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

    • Far Vision

      Seeing details that are far away.

    • Glare Sensitivity

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

    • Static Strength

      Lifting, pushing, pulling, or carrying.

    • Visual Color Discrimination

      Noticing the difference between colors, including shades and brightness.

    • Hearing Sensitivity

      Telling the difference between sounds.

    • Visualization

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

    • Deductive Reasoning

      Using rules to solve problems.

    • Speed of Limb Movement

      Quickly moving your arms and legs.

    • Response Orientation

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

    • Category Flexibility

      Grouping things in different ways.

    • Trunk Strength

      Using your lower back and stomach.

    • Selective Attention

      Paying attention to something without being distracted.

    • Time Sharing

      Doing two or more things at the same time.

    • Perceptual Speed

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

    • Problem Sensitivity

      Noticing when problems happen.

    • Number Facility

      Adding, subtracting, multiplying, or dividing.

    • Flexibility of Closure

      Seeing hidden patterns.

    • Wrist-Finger Speed

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

    • Written Expression

      Communicating by writing.

    • Oral Expression

      Communicating by speaking.

    • Gross Body Coordination

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

    • Night Vision

      Seeing at night or under low light.

    • Sound Localization

      Noticing the direction that a sound came from.

    • Near Vision

      Seeing details up close.

    • Speech Recognition

      Recognizing spoken words.

    • Stamina

      Exercising for a long time without getting out of breath.

    • Extent Flexibility

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

    • Multilimb Coordination

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

    • Inductive Reasoning

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

    • Arm-Hand Steadiness

      Keeping your arm or hand steady.

    • Control Precision

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

    • Oral Comprehension

      Listening and understanding what people say.

    • Written Comprehension

      Reading and understanding what is written.

    • Information Ordering

      Ordering or arranging things.

    • Originality

      Creating new and original ideas.

    • Mathematical Reasoning

      Choosing the right type of math to solve a problem.

    • Memorization

      Remembering words, numbers, pictures, or steps.

    • Reaction Time

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

    • Manual Dexterity

      Holding or moving items with your hands.

    • Spatial Orientation

      Knowing where things are around you.

    • Dynamic Strength

      Exercising for a long time without your muscles getting tired.

    • Gross Body Equilibrium

      Keeping your balance or staying upright.

    • Speech Clarity

      Speaking clearly.

    • Dynamic Flexibility

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

    • Auditory Attention

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

    • Explosive Strength

      Jumping, sprinting, or throwing something.

    • Rate Control

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

    • Speed of Closure

      Quickly knowing what you are looking at.

    • Finger Dexterity

      Putting together small parts with your fingers.

    • Fluency of Ideas

      Coming up with lots of ideas.

    Knowledge

    • Biology

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

    • Fine Arts

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

    • Law and Government

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

    • History and Archeology

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

    • 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.

    • 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.

    • 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.

    • 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.

    • 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.

    • English Language

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

    • 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.

    • 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.

    • 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.

    • 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.

    • 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.

    • Food Production

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

    • 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.

    • 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.

    • Computers and Electronics

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

    • 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.

    • Design

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

    • Mechanical

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

    • Mathematics

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

    • 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.

    • Economics and Accounting

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

    • 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.

    • Production and Processing

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

    • Sociology and Anthropology

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

    • Transportation

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

    • Telecommunications

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

    • 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.

    • 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.

    • 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.

    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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