Credit loan officer

Assess and administer customers’ loan applications using credit reports and scores to determine eligibility.

Duties and tasks

  • Analyse customer information, credit reports and credit scores
  • Answer customers questions about credit, loans or status of their accounts
  • Approve or decline credit and loan applications
  • Check customers employment records and income data
  • Contact financial institutions regarding customers accounts
  • Make inquiries to customers references
  • Prepare financial documents for repossessions or foreclosure
  • Prepare loan and credit documents
  • Record payments
  • Report customers credit standings to upstanding reporting agencies
  • Send letters for delinquent loans

Skills required

  • Ability to maintain composure in tense situations
  • Ability to make unbiased decisions
  • Analytical thinking skills
  • Exceptional math skills
  • Good written and oral communication skills
  • Great record keeping skills
  • Keen eye for details
  • Knowledge of financial strategies and planning

Working conditions

Credit and Loan Officers work in banks, loan offices, credit unions and other lending facilities. These offices are always heated and air conditioned for the comfort of customers and employees. Being a Credit and Loan Officer can be stressful when a loan is declined, but it can be very rewarding when the officer informs a family that they can buy a home!

Professional associations / Industry information

The Finance Sector Union

The Financial Services Institute of Australasia (Finsia)

Related jobs and job titles

  • Accounts Clerk
  • Administrative Assistant
  • Bank Teller
  • Credit Officer
  • Customer Service Manager
  • Customer Service Officer
  • Financial Dealer/Trader
  • Financial Planner
  • Operations/Accounts Officer
  • Telephone Consultant (Banking)

Related degrees

Related subjects