Credit and Loans Officers

What the job involves

• Analysing information about customers and examining references, credit ratings, investment risks, pay slips and other information against predetermined policy standards
• Contacting financial and credit institutions to obtain information about customers
• Preparing papers setting out conditions of credit and loans, rates of repayment and loan periods, and providing information about customers' standing to financial and credit institutions
• Authorising the approval of credit and loan applications and recommending credit and loan conditions and limits
• Keeping records of payments, and preparing routine letters requesting payment for overdue accounts and forwarding these for legal action
• Answering inquiries concerning credit standing of customers, loan balances and penalties
• May recommend, approve and arrange mortgages
• May work in a call centre

Key values of workers in Credit and Loans Officers

• Independence

  Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.

• Support

  Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

• Achievement

  Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.

• Recognition

  Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.

• Working Conditions

  Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.

Top skills required for workers in Credit and Loans Officers

• Speaking

  Talking to others to convey information effectively.

• Reading Comprehension

  Understanding written sentences and paragraphs in work-related documents.

• Judgment and Decision Making

  Considering the relative costs and benefits of potential actions to choose the most appropriate one.

• Critical Thinking

  Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.

• Writing

  Communicating effectively in writing as appropriate for the needs of the audience.