Who is a loan manager and what responsibilities does it perform?

There are more and more credit organizations and banks, therefore, the profession of a credit manager is becoming more and more in demand. The lending industry has become so affordable that now almost everything can be borrowed. So they buy apartments, cars, household appliances, furniture, and this means that specialists are needed not only at the bank, but also at the car dealership, at the electronics store, in a furniture showroom, and so on.

A loan manager is a specialist who promotes, executes, and issues loans. Each bank has in its arsenal several credit programs, from the most affordable to the more serious. Therefore, specialists are required at different levels. You can get a loan manager even without experience, almost every major bank has its own specialist training programs.

Any specialty has its pros and cons. The profession of a credit manager is no exception, it is quite specific and may not be suitable for everyone.

Benefits.

• An opportunity to get a job without experience. Many large banks have their own training programs, internships, and continuing education courses, after which a specialist can start working or get a raise.
• A good chance to quickly climb the career ladder in the banking sector. If you are active, sociable, and able to attract clients, this will allow you to quickly get a promotion.
• Opportunity further training.
• High wages with high work efficiency. In addition, in large organizations, employees are given the opportunity to use corporate bonuses and special conditions when applying for loans for their own needs.

The disadvantages of the profession.

• The need to communicate a lot. Not all people can withstand the fact that they have to explain something to other people all day, enter into dialogue with them.
• High stressrelated to communication with people, as well as the need to implement a monthly plan.
• The dependence of wages on the implementation of the plan. The income of a specialist also depends on the activity of a specialist. It can be either very high if the manager successfully issues loans and sells related products, or low - if for some reason the plan is not fulfilled.

The job of a manager is to offer lending programs so that they are acquired. This is a sale of banking products, so you need to have a well-delivered speech, be able to work with objections if the conversation went wrong. Appearance here also plays an important role. The specialist should be neatly dressed, well-groomed and with a friendly expression.

The profession of a loan specialist is suitable for young, motivated people who freely communicate with strangers. In this profession, you will need such qualities as:

• stress resistance;
• sociability;
• goodwill;
• patience;
• persistence;
• ability to manage a situation;
• punctuality;
• activity and determination, the desire to earn, because it depends on the number of issued loans income;
• the ability to be unobtrusive.

A high-class manager is distinguished by the fact that, adhering to the conversation program, he is able to respond to customer failures and translate the conversation in a different direction.

All duties of the employee are prescribed in the job description of the institution where he works. It is developed by the institution itself, so they will be different at the bank and at the car dealership, but still the tasks of the loan manager in different organizations will be similar.

• Drawing up loan agreements and selling related services. Related services include different types of insurance.
• Customer consultation and clarification of emerging lending issues.
• Formation of reports by months, quarters and providing them to the management.

In addition, in the process, the manager must draw up all the necessary documents, take photocopies and certify their authenticity. Managers draw up cards, check the credit history of the client, the possibility of issuing a loan, requests all the data for its processing.

In the process, the specialist must fulfill the following requirements:

• make sure that there are no errors in the paperwork;
• politely communicate with customers;
• comply with the internal routine of the organization;
• observe the dress code, and if necessary, wear insignia;
• observe safety precautions and fire protection.

Credit managers are needed not only in banks, but also in other organizations that sell any goods on credit or by installments. The main places of work.

• Large car dealerships - specialist in car loans, insurance. Such a specialist is engaged in registration of cars on credit and insurance on them.
• Real Estate Agencies - Mortgage Manager. He is engaged in registration of real estate in a mortgage, helps to choose the most advantageous offer of the bank.
• Microfinance organizations - a specialist in the issuance of loans. There are a lot of such organizations now; they issue microloans for a short period of time.
• Bank lending specialist.
• Hypermarkets of household appliances and electronics.
• Furniture salons.
• Salons of communication.