Will “Bank Representative” be Replaced By Robots? 🤔

100 % Chance of Automation

“Bank Representative” 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 Representative”

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

Related Technology & Tools

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

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