Will “Business Banker” be Replaced By Robots? 🤔

100 % Chance of Automation

“Business Banker” 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 “Business Banker”

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

Related Technology & Tools

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

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