Will “Branch Banker” be Replaced By Robots? 🤔
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“Branch Banker” will definitely be replaced by robots.
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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…
- Loan Officers
- Relationship Manager
- Portfolio Manager
- Mortgage Loan Originator
- Mortgage Loan Officer
- Loan Officer
- Corporate Banking Officer
- Commercial Loan Officer
- Commercial Banker
- Business Banking Officer
- Branch Manager
- Small Business Banking Officer
- Real Estate Officer
- Real Estate Loan Officer
- Personal Loan Specialist
- Personal Banking Officer
- Mortgage Underwriter
- Mortgage Specialist
- Mortgage Originator
- Mortgage or Loan Underwriter
- Mortgage Loan Closer
- Mortgage Consultant
- Mortgage Closer
- Mortgage Broker
- Mortgage Banker
- Loan Workout Officer
- Loan Supervisor
- Loan Specialist
- Loan Servicing Specialist
- Loan Service Officer
- Loan Reviewer
- Loan Originator
- Loan Interviewer
- Loan Examiner
- Loan Counselor
- Loan Coordinator
- Loan Consultant
- Loan Auditor
- Loan Approver
- Loan Analyst
- Loan Adviser
- Loan Administrator
- Lender
- Home Lending Officer
- Farm Loan Representative
- Escrow Officer
- Consumer Loan Officer
- Commercial Mortgage Broker
- Commercial Loan Collection Officer
- Commercial Lender
- Business Banker
- Branch Lending Officer
- Branch Account Manager
- Branch Account Executive
- Banking Services Officer
- Bank Representative
- Bank Officer
- Agricultural Loan Officer
Tasks for “Branch Banker”
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Compute payment schedules.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Supervise loan personnel.
- Confer with underwriters to aid in resolving mortgage application problems.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Handle customer complaints and take appropriate action to resolve them.
- Submit applications to credit analysts for verification and recommendation.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- Review and update credit and loan files.
- Petition courts to transfer titles and deeds of collateral to banks.
- Negotiate payment arrangements with customers who have delinquent loans.
- 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.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Interview, hire, and train new employees.
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
- Arrange for maintenance and liquidation of delinquent properties.
Related Technology & Tools
- Personal digital assistants PDA
- Tablet computers
- Scanners
- Personal computers
- Desktop computers
- Notebook computers
- 1003 Uniform Residential Loan Application
- Microsoft PowerPoint
- CGI-AMS Strata
- The Mortgage Office Loan Servicing
- Ellie Mae Contour
- Moody's KMV Risk Analyst
- Microsoft Outlook
- Bottom Line LoanMaster Loan Servicing
- Harland Financial Solutions DecisionPro
- Microsoft Excel
- Fair Isaac Application Risk Model Software
- CGI-AMS CACS Enterprise
- Credit fraud detection software
- Opportunity management system OMS
- Dynamic Loanledger
- Financial Industry Computer Systems Loan Producer
- eCredit Enterprise
- Calyx Point
- Financial Industry Computer Systems Loan Originator
- Experian Strategy Management
- Amortization loan software
- IA Systems StreamLend
- Equifax Application Engine
- Integra Destiny Loan Origination
- Experian Quest
- LA PRO Loan Administrator Pro
- Experian Retention Triggers
- Moody's KMV Risk Advisor
- Experian FraudShield
- Technicost LOS
- Moody's KMV Decisions
- Equifax Advanced Decisioning
- Loan origination software
- Bankers Systems Rembrandt Lending System
- White Clarke North America Credit Adjudication and Lending Management
- VueCentric MortgageDashboard
- Ellie Mae Genesis
- Indus Lending Solutions
- Experian Credinomics
- Customer information control system CICS
- Wolters Kluwer Financial Services ComplianceOne
- Microsoft Word
- Experian Transact SM
- Fair Isaac Falcon ID
- Plimus Loan Artist
- California Infinite LPS
- The Mortgage Office Loan Origination
- Freddie Mac Loan Prospector
- Dun and Bradstreet Global DecisionMaker
- Harland Interlinq MortgageWare
- Equifax InterConnect
- QuikDraw Loan Management System
- RealBenefits Amortization Loan
- Loan application processing software
- eOriginal eCore Business Suite
- Delphi Discovery
- LexisNexis
- Click1003 Online Mortgage Application
- Experian Detect
- Moody's KMV CreditEdge
- Common business oriented language COBOL
- Financial Industry Computer Systems Loan Accountant
- Web browser software
- CGI-AMS BureauLink Enterprise
- IBM Notes
- Microsoft Office
- Fair Isaac Capstone Decision Manager
- Moody's KMV Financial Analyst
- Credit underwriting software
- Fannie Mae Desktop Underwriter
- Credit and risk analysis software
- FAS Loan Service Plus