Will “Commercial Lending Vice President” be Replaced By Robots? 🤔
Unknown Chance of Automation
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Job Description
Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
Job Details
- The SOC (Standard Occupational Classification) code is 13-2071.01
☝️ Information based on the reference occupation “Loan Counselors”.
Also Known As…
- Loan Counselors
- Peer Financial Counselor
- Loan Counselor
- Financial Counselor
- Financial Assistance Advisor
- Financial Aid Officer
- Financial Aid Director
- Financial Aid Counselor
- Financial Aid Advisor
- Financial Aid Administrator
- Commercial Lending Vice President
- Loan Consultant
- Financial Assistance Specialist
- Financial Aid Coordinator
- Farm Mortgage Agent
- Eligibility Consultant
Tasks for “Commercial Lending Vice President”
- Maintain current knowledge of credit regulations.
- Interview applicants and request specified information for loan applications.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
- Authorize or sign mail collection letters.
- Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
- Contact creditors to explain clients' financial situations and to arrange for payment adjustments so that payments are feasible for clients and agreeable to creditors.
- Approve loans within specified limits.
- Advise students on available financial-aid awards.
- Check loan agreements to ensure that they are complete and accurate, according to policies.
- Inform individuals and groups about the financial assistance available to college or university students.
- Review accounts to determine write-offs for collection agencies.
- Refer loans to loan committees for approval.
- Compare data on student aid applications with eligibility requirements of assistance programs.
- Confer with underwriters to resolve mortgage application problems.
- Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
- Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
- Maintain and review account records, updating and recategorizing them according to status changes.
- Supervise loan personnel.
- Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
- Submit applications to credit analysts for verification and recommendation.
- Open accounts for clients and disburse funds from clients' accounts to creditors.
- Review billing for accuracy.
- Match students' needs and eligibility with available financial aid programs to provide informed recommendations.
- Locate debtors using post office directories, utility services account listings, or mailing lists.
- Analyze potential loan markets to find opportunities to promote loans and financial services.
- Provide entrance or exit loan counseling to students.
- Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
Related Technology & Tools
- Desktop computers
- Notebook computers
- Personal computers
- 10-key calculators
- Autodialers
- Student information systems SIS
- Microsoft Outlook
- Microsoft Access
- Microsoft Internet Explorer
- EMT Applications CounselorMax
- Financial aid management system FAM
- Microsoft Excel
- Oracle PeopleSoft
- SunGard Higher Education Banner Financial Aid
- SAP
- Data entry software
- ELM Resources ELM
- Microsoft Word
- Web browser software
- EDExpress
- Microsoft PowerPoint
- Microsoft Office
- Datatel Colleague
- Sungard Higher Education PowerFAIDS