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