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