Loan Administrator Career

Job Description: Direct and coordinate financial activities of workers in a branch, office, or department of an establishment, such as branch bank, brokerage firm, risk and insurance department, or credit department.

*A job as a Loan Administrator falls under the broader career category of Financial Managers, Branch or Department. The information on this page will generally apply to all careers in this category. We are still seeking more specific information about this career from experts in this field. If you can provide us with more information, .

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Loan Administrator Career

What Loan Administrators do:

  • Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
  • Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
  • Recruit staff members.
  • Oversee training programs.
  • Prepare operational or risk reports for management analysis.
  • Evaluate data pertaining to costs to plan budgets.
  • Evaluate financial reporting systems, accounting or collection procedures, or investment activities and make recommendations for changes to procedures, operating systems, budgets, or other financial control functions.
  • Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
  • Develop or analyze information to assess the current or future financial status of firms.
  • Network within communities to find and attract new business.
  • Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
  • Oversee the flow of cash or financial instruments.
  • Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
  • Examine, evaluate, or process loan applications.
  • Analyze and classify risks and investments to determine their potential impacts on companies.
  • Review collection reports to determine the status of collections and the amounts of outstanding balances.
  • Review reports of securities transactions or price lists to analyze market conditions.
  • Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
  • Submit delinquent accounts to attorneys or outside agencies for collection.
  • Communicate with stockholders or other investors to provide information or to raise capital.
  • Direct insurance negotiations, select insurance brokers or carriers, and place insurance.

What work activities are most important?

Importance Activities

Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.

Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Holland Code Chart for a Loan Administrator

 

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