Credit officers help people navigate a financial institution’s loan application process. They also help borrowers who have hit hard times find a payment solution. Credit officers are employed by the financial industry. They can specialize in certain types of loans, such as personal loans, commercial loans, student loans, mortgages, or auto loans.
Key Responsibilities
- Performs semi-annual account credit limit reviews and credit increase review requests from financial service and sales teams
- Prepares loan application and educates clients about the terms and conditions of the loans the company offers
- Evaluates credit and investment risks of loans, guarantees and investment activities
- Recommends approval or disapproval of commercial, real estate or credit loans
- Identifies, formulates, and reviews financial and credit risk management policies and ensure that appropriate systems, procedures, and guidelines are in line with best banking practices
- Analyzes applicants’ financial status and credit and property evaluations to determine loan feasibility
- Keeps in touch with clients for gathering financial services documentation and other required documents
Job Requirements/Qualifications
- Bachelor’s degree in Accounting, Banking, Economics, Finance or related field
- Proven work experience as a Mortgage Loan Office, Credit Manager or a similar position in the Accounting Department
- Master’s degree or higher in risk management, finance, or other related fields
- With a general understanding of how the Credit and Collections Operations works
- Basic Working Understanding of How to Operate a Computer and General Office Equipment (Telefax, Scanner, Photocopier, Printer)
Skills needed for this role
Credit Officers must have proven skills and working experience in credit risk assessment . They must have a solid understanding of credit and risk management, detail-oriented, quantitative analysis skills would be an advantage.
Career Level
1-4 Years Experienced Employee
Job Specializations
Accounting/Finance, Banking/Financial