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What They Do |
Loan officers perform some or all of the following duties:
 | Interview applicants for personal, mortgage, student and business loans |
| Research and evaluate loan applicant's financial status, references, credit and ability to repay the loan |
| Complete credit and loan documentation |
| Submit credit and loan applications to management with recommendations for approval or rejection; or approve or reject applications within authorized limits ensuring that credit standards of the institution are respected |
| Promote the sale of credit and loan services |
| Review and update credit and loan files |
| Prepare statements on delinquent accounts and forward irreconcilable accounts for collector action. |
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Where They Find Work — Top Occupational Areas |
| Finance and insurance |
83.0% |
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| Public administration |
2.0% |
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| Administrative and support waste management and remediation services |
2.0% |
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| Loan officers work for banks, trust companies, credit unions, and similar financial institutions. |
| The highest concentrations (per 10,000 people) of Loan Officers are found in Manitoba and Saskatchewan while the lowest concentrations are in Quebec and Newfoundland. |
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