loan officer
Code 3312.5
Loan officers assess and authorise the approval of loan applications for individuals and businesses. They ensure complete transactions between loan organisations, borrowers, and sellers. Loan officers are specialists in consumer, mortgage, or commercial lending.
Essential skills
Knowledge
- banking activities
- actuarial science
- credit control processes
Skills and competences
- analyse loans
- decide on loan applications
- interview bank loanees
- examine credit ratings
- inform on interest rates
- interpret financial statements
- obtain financial information
Transversal competences
- analyse financial risk
- consult credit score
- maintain credit history of clients
- monitor loan portfolio
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What to assess for this role
Technical knowledge can be verified with tests and references. What never shows up on a CV are the transversal competences, and they explain most failed hires. Before closing, it pays to measure them with a standardised battery.
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Sources
This service uses the ESCO classification of the European Commission and the Mapha Taxonomy developed by OTIC SOFOFA (CC BY 4.0), in an adapted version. Group codes come from the ILO's ISCO-08. See sources and licences