Advises and educates individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management plans, advise on credit issues, or provide budget, mortgage, and bankruptcy counseling.
This career is part of the Finance cluster Banking Services pathway.
A person in this career:
- Checks loan agreements to ensure that they are complete and accurate, according to policies.
- Refers loans to loan committees for approval.
- Approves loans within specified limits.
- Submits applications to credit analysts for verification and recommendation.
- Analyzes applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Interviews applicants and requests specified information for loan applications.
- Establishes payment priorities according to credit terms and interest rates to reduce clients' overall costs.
- Contacts applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
- Maintains current knowledge of credit regulations.
- Calculates amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.