Will “Bank Officer” be Replaced By Robots? 🤔

100 % Chance of Automation

“Bank Officer” will definitely be replaced by robots.

This job is ranked #686 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.

Care to share? Click for Facebook, Twitter, LinkedIn, or XING. 👍

Job Description

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

Job Details

The SOC (Standard Occupational Classification) code is 13-2072.00
The Mean Annual Wage in the U.S. is $ 76,260.00
The Mean Hourly Wage is $ 36.00
Currently, there are 305,700 people on this job

☝️ Information based on the reference occupation “Loan Officers”.

Also Known As…

Tasks for “Bank Officer”

Review loan agreements to ensure that they are complete and accurate according to policy.
Petition courts to transfer titles and deeds of collateral to banks.
Review and update credit and loan files.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Provide special services such as investment banking for clients with more specialized needs.
Submit applications to credit analysts for verification and recommendation.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Supervise loan personnel.
Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
Work with clients to identify their financial goals and to find ways of reaching those goals.
Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
Confer with underwriters to aid in resolving mortgage application problems.
Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
Negotiate payment arrangements with customers who have delinquent loans.
Handle customer complaints and take appropriate action to resolve them.
Analyze potential loan markets and develop referral networks to locate prospects for loans.
Compute payment schedules.
Arrange for maintenance and liquidation of delinquent properties.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
Interview, hire, and train new employees.
Meet with applicants to obtain information for loan applications and to answer questions about the process.

Related Technology & Tools

Tablet computers
Notebook computers
Scanners
Personal digital assistants PDA
Personal computers
Desktop computers

Dun and Bradstreet Global DecisionMaker
eCredit Enterprise
Moody's KMV Decisions
Delphi Discovery
Loan origination software
Fannie Mae Desktop Underwriter
Amortization loan software
Financial Industry Computer Systems Loan Producer
Click1003 Online Mortgage Application
Experian Strategy Management
Financial Industry Computer Systems Loan Originator
Customer information control system CICS
Indus Lending Solutions
Experian Credinomics
Technicost LOS
Wolters Kluwer Financial Services ComplianceOne
Harland Interlinq MortgageWare
Experian Retention Triggers
Fair Isaac Application Risk Model Software
Integra Destiny Loan Origination
Loan application processing software
Moody's KMV Financial Analyst
Dynamic Loanledger
Harland Financial Solutions DecisionPro
Experian Quest
Credit fraud detection software
Microsoft Excel
Common business oriented language COBOL
eOriginal eCore Business Suite
Microsoft PowerPoint
Plimus Loan Artist
VueCentric MortgageDashboard
The Mortgage Office Loan Servicing
IA Systems StreamLend
LexisNexis
CGI-AMS BureauLink Enterprise
Fair Isaac Falcon ID
CGI-AMS Strata
Fair Isaac Capstone Decision Manager
Equifax Application Engine
Credit and risk analysis software
Freddie Mac Loan Prospector
Credit underwriting software
1003 Uniform Residential Loan Application
Equifax Advanced Decisioning
Experian FraudShield
Microsoft Office
The Mortgage Office Loan Origination
Moody's KMV CreditEdge
Experian Detect
Opportunity management system OMS
QuikDraw Loan Management System
Moody's KMV Risk Advisor
Ellie Mae Genesis
Web browser software
Bottom Line LoanMaster Loan Servicing
Calyx Point
RealBenefits Amortization Loan
Ellie Mae Contour
Microsoft Outlook
IBM Notes
Experian Transact SM
Financial Industry Computer Systems Loan Accountant
LA PRO Loan Administrator Pro
Equifax InterConnect
Microsoft Word
Bankers Systems Rembrandt Lending System
California Infinite LPS
FAS Loan Service Plus
Moody's KMV Risk Analyst
CGI-AMS CACS Enterprise
White Clarke North America Credit Adjudication and Lending Management