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Automation Risk Analysis

Will “Financial Assistance Advisor” be Automated?

Historical Context: Oxford Study (2013)

Ranked #126 of 702. Estimated risk: 4.0%

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AI Exposure Risk

29%

“Financial Assistance Advisor” will almost certainly not be replaced by AI.

Based on the cognitive demands, communication requirements, and logical reasoning intrinsic to this occupation according to O*NET data, we project a 29% probability of disruption by generative AI and Large Language Models.

Automation & Robot Risk

29%

“Financial Assistance Advisor” will almost certainly not be replaced by robots.

Evaluating the physical dexterity, repetitive motion tasks, and manual labor associated with this role, our analysis indicates a 29% likelihood of substitution by advanced robotics systems.

Personal & Financial Insights

Every occupation has a unique profile. For Credit Counselors, the Bureau of Labor Statistics and O*NET classify the day-to-day work broadly as: Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explain loan requirements or restrictions. May help develop debt management plans or student financial aid packages. May advise on credit issues, or provide budget, mortgage, bankruptcy, or student financial aid counseling.

Avg. Annual Salary $55,890
Avg. Hourly Wage $26.87
Available Jobs (US) 28,110
Job Title & Hierarchy Code (SOC) Credit Counselors #13-2071
Wage vs. National Median
ℹ️

Data is based on the reference occupation: “Credit Counselors”

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Core Skills & Abilities

  • Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.

  • Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.

  • Teach courses or seminars on topics, such as budgeting, management of personal finances, or financial literacy.

  • Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.

  • Prepare written documents to establish contracts with or communicate financial recommendations to clients.

  • Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions.

  • Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.

  • Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or payment plans.

  • Estimate time for debt repayment, given amount of debt, interest rates, and available funds.

  • Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.

  • Interview clients by telephone or in person to gather financial information.

  • Prioritize client debt repayment to avoid dire consequences, such as bankruptcy or foreclosure or to reduce overall costs, such as by paying high-interest or short-term loans first.

  • Recommend strategies for clients to meet their financial goals, such as borrowing money through loans or loan programs, declaring bankruptcy, making budget adjustments, or enrolling in debt management plans.

  • Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.

  • Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.

  • Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.

  • Refer clients to social service or community resources for needs beyond those of credit or debt counseling.

  • Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.

  • Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve client or creditor problems.

  • Recommend educational materials or resources to clients on matters, such as financial planning, budgeting, or credit.

  • Calculate clients' available monthly income to meet debt obligations.

  • Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.

  • Disburse funds from client accounts to creditors.

Technologies & Software

  • Gemini for Workspace
  • Perplexity AI
  • CoreLogic DebtorTrace
  • Cooperative Processing Resources DMS Professional Suite
  • Napkin AI
  • LexisNexis
  • Web browser software
  • Oracle PeopleSoft
  • Merlin Information Services databases
  • Microsoft Word
  • Microsoft Access
  • Prime Debt Soft Debt Settlement
  • Claude (Anthropic)
  • Prime Debt Software Credit Repair
  • ICCO CreditSoft
  • SAP software
  • Microsoft PowerPoint
  • Microsoft Copilot
  • Microsoft Excel
  • Microsoft Office software
  • LexisNexis Accurint
  • Alteryx AI
  • Microsoft Outlook
  • Chat software
  • Meta Business AI
  • Freddie Mac Loan Prospector
  • Integrant DebtLogic
  • Microsoft Dynamics
  • DataRobot
  • Paragon Financial Services Paragon Financial System
  • Tableau AI
  • Planful AI
  • ChatGPT (OpenAI)
  • Email software
  • Laptop computers
  • Financial calculators
  • Laser printers
  • Personal computers
  • Laser facsimile machines
  • Inkjet printers
  • Multi-line telephone systems