actuarial science
The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.
Loan officers assess and authorise the approval of loan applications for individuals and businesses. They ensure complete transactions between loan organisations, borrowers, and sellers. Loan officers are specialists in consumer, mortgage, or commercial lending.
Competences and skills
39 ESCO relationsEssential knowledge 4 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
2 competencescore banking software
The selection of software for core banking activities management (e.g. deposits, payments, loans, bank transactions, customer data) and other functions related to banking.
digital
Cross-sector
2 competencesbanking activities
The broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, foreign exchange trading, commodity trading, trading in equities, futures and options trading.
credit control processes
The various techniques and procedures applied to ensure that credit is given to the suitable customers and that they pay on time.
Essential skills and competences 12 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
3 competencesconsult credit score
Analyse the credit files of an individual, such as credit reports which outlines a person's credit history, in order to assess their creditworthiness and all the risks that would be involved in granting a person a loan.
inform on interest rates
Inform prospective borrowers on the rate at which compensation fees for use of assets, such as borrowed money, is paid to the lender, and at which percentage of the loan the interest stands.
monitor loan portfolio
Control the ongoing credit commitments in order to detect anomalies related to the schedules, refinancing, approval limits etc., and to identify improper disbursements.
Cross-sector
9 competencesanalyse business plans
Analyse the formal statements from businesses which outline their business goals and the strategies they set in place to meet them, in order to assess the feasibility of the plan and verify the business' ability to meet external requirements such as the repayment of a loan or return of investments.
analyse financial risk
Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.
analyse loans
Examine and analyse the loans provided to organisations and individuals through different forms of credit such as overdraft protection, export packing credit, term loan, and purchase of commercial bills.
decide on loan applications
Take into account the risk assessment and analysis and perform the final reviewing of the loan application in order to approve or deny the loan, and set in motion the necessary procedures following the decision.
examine credit ratings
Investigate and look for information on the creditworthiness of companies and corporations, provided by credit rating agencies in order to determine the likelihood of default by the debtor.
interpret financial statements
Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.
interview bank loanees
Perform interviews with candidates requesting a bank loan for different purposes. Pose questions in order to test the goodwill and the financial means of candidates for paying back the loan.
maintain credit history of clients
Create and maintain the credit history of clients with relevant transactions, supporting documents, and details of their financial activities. Keep these documents updated in case of analysis and disclosure.
obtain financial information
Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.
Optional knowledge 9 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
2 competencescustomer service
Processes and principles related to the customer, client, service user and to personal services; these may include procedures to evaluate customer's or service user's satisfaction.
foreclosure
The legal system surrounding the recovery of a loan or debt which a debtor or borrower has not completed the payments of and of which payments have been neglected by enforcing the sale of assets which were used as collateral for the loan.
Cross-sector
7 competencesbusiness loans
Loans which are intended for business purposes and which can either be secured or unsecured depending on whether a collateral is involved. The different types of business loans such as bank loans, mezzanine finance, asset-based finance, and invoice finance.
debt classification
The different classifications of debt such as public and publicly guaranteed debt, private non-guaranteed credits, central bank deposits, etc.
debt systems
The processes needed to obtain goods or services before payment and when a sum of money is owed or overdue.
mortgage loans
The financial system of acquiring money by property owners or prospective property owners, in which the loan is secured on the property itself so that the property can be repossessed by the lender in the absence of payments due by the borrower.
property law
The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.
securities
The financial instruments traded in financial markets representing both the right of property over the owner and at the same time, the obligation of payment over the issuer. The aim of securities which is raising capital and hedging risk in financial markets.
tax legislation
Tax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.
Optional skills and competences 14 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
3 competencesassess customer credibility
Communicate with customers to assess whether their true intentions are in line with what they claim in order to eliminate any risks from a potential agreement with the customer.
collect property financial information
Collect information concerning the previous transactions involving the property, such as the prices at which the property had been previously sold and the costs that went into renovations and repairs, in order to obtain a clear image of the property's value.
manage loan applications
Manage the application process for loans from the process of interviewing the applicant and reviewing the documentation, assessing the risks, and accepting or denying the loan and ensuring compliance with the underwriting process.
Cross-sector
11 competencesadvise on financial matters
Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
advise on risk management
Provide advice on risk management policies and prevention strategies and their implementation, being aware of different kinds of risks to a specific organisation.
apply credit risk policy
Implement company policies and procedures in the credit risk management process. Permanently keep company's credit risk at a manageable level and take measures to avoid credit failure.
assist in loan applications
Assist clients with filling out and managing their applications for loans by providing them with practical assistance, such as provision of relevant documentation and instruction on the process, and other advice such as any arguments they could bring forward to the lending organisation in order to secure the loan.
check accounting records
Revise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.
communicate with banking professionals
Communicate with professionals in the field of banking in order to obtain information on a specific financial case or project for personal or business purposes, or on behalf of a client.
examine mortgage loan documents
Examine documents from mortgage borrowers or from financial institutions, such as banks or credit unions, relating to a loan secured on a property in order to examine the payment history of the loan, the financial state of the bank or borrower, and other relevant information in order to assess the further course of action.
maintain client debt records
Preserve a list with the debt records of clients and update it regularly.
protect client interests
Protect the interests and needs of a client by taking necessary actions, and researching all possibilities, to ensure that the client obtains their favoured outcome.
provide support in financial calculation
Provide colleagues, clients or other parties with financial support for complex files or calculations.
synthesise financial information
Collect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.