A credit manager is one of the most sought-after specialties in the banking market, and today in this article we will tell you:

What is the profession of a credit manager?

What are the requirements for credit managers?

What are the features of the work of such employees?

One of the main areas of work of any bank is lending, and the main responsibility falls on the credit manager. In different banks, the credit manager may be called differently: credit specialist, credit inspector, etc.

A credit manager is a specialist who works in a bank office or at remote points of sale. His responsibilities include attracting and consulting clients on lending issues, as well as preparing all necessary documents.

A credit specialist must be familiar with the bank’s credit policy, the products offered by the bank and be able to select the optimal program for the borrower, as well as assess the reliability of a potential client and be responsible for the decisions made.

The loan officer's responsibilities include:

Providing clients with information about all existing lending programs and selecting the most suitable option for the borrower;

Calculation of the loan amount and monthly payments;

Accepting loan applications and checking documents;

Assessing risks and assigning the borrower an appropriate reliability rating;

Transfer of a package of documents to the bank;

Preparation of all necessary documentation and signing of the loan agreement;

Transaction support.

The loan officer must have psychological skills to pre-assess a potential borrower and prevent possible fraud. This is especially true for specialists working at remote locations and issuing loans in stores. Therefore, banks often send their employees to psychological courses or conduct training.

Requirements for specialists

Applicants for credit manager positions are subject to strict personal requirements: resistance to stress, responsibility, psychological skills, communication skills, attentiveness, emotional stability.

Working as a credit manager requires a higher education in economics (banks also accommodate senior university students). Most often, no work experience is required.

Each bank conducts an internship for employees, during which it introduces them to the specifics of work and software, which differs significantly depending on the bank. Even if an employee comes from another bank and has work experience, he still needs to undergo training, because the principles of operation of banks are often the opposite.

Career

The credit sector allows you to make a quick start in your career without having work experience or special skills. The first step is working at remote points of sale and processing consumer loans. The most lenient requirements are put forward for such specialists. Often, senior students from economic universities and graduates without work experience are hired.

The next step is the transition from a remote point to a bank branch. In some banks there is a division of managers by type of lending. Some of them are engaged in issuing mortgages, others in car loans, and still others in consumer loans. This allows the specialist to study all the nuances of the work and attract a larger number of borrowers without losing the quality of the work.

However, most banks consider this division ineffective and prefer universal employees who can offer the client not only loan processing, but also deposit and card products.

Successfully working in the retail lending department, an employee can advance his career in two directions. The first option is to switch to serving VIP clients. The most experienced specialists are involved in working with this category of borrowers. The ability to communicate with people and smooth out conflicts is of no small importance.

The salary of managers serving VIP clients is an order of magnitude higher than that of other employees, and the volume of loans issued is much greater. In addition, there is practically no problem debt in the VIP sector.

The second option is to move to the department for working with legal entities. From the corporate lending department it is possible to be promoted to the position of a credit expert who analyzes the financing of construction or production facilities.

The highest levels of promotion for a credit manager are the head of the lending department, and subsequently the head of a bank branch. On the one hand, these positions bring high income and expand their powers, but on the other hand, career growth stops there.

Further advancement is possible when the employee moves to the bank's head office, where growth opportunities are practically unlimited: head of the credit department, head of the retail business department.

An alternative option is also possible. Often credit specialists go to brokerage, leasing, and factoring companies. The specificity of the work of a credit broker is its high dependence on the results of its own work. This is because the salary is a percentage of the transaction.

If a broker does not bring in enough orders for the company, it becomes unnecessary. But with high profits, the broker receives high income. This type of work is suitable for specialists with extensive experience, a good understanding of the credit market and knowledge of all the nuances of the work.

Work plan

Almost all banks set credit managers a personal plan for the volume of loans. The plan depends on the employee's specialization. Banks have different reward systems for fulfilling the plan. It happens that a premium is paid, which is also calculated based on the volume of loans, or bonuses. Sometimes it happens that failure to meet the minimum plan leads to fines and deductions from the employee’s salary.

However, the implementation of the plan often depends not only on the credit manager, but also on the bank’s policy. It is difficult to exceed the plan if lending conditions are uncompetitive compared to offers from other banks. In this case, fining employees leads to an outflow of good specialists.

Basically, credit managers look for work not by the size of the nominal salary, but by the ratio of all aggregate factors, consisting of working conditions, pay and the bank’s personnel policy.

Responsibility

Often the problem of executing plans results in the problem of assessing the client's reliability. In an effort to fulfill the plan and receive a bonus, the credit manager may not pay due attention to the client’s assessment.

When one manager has many problem loans, the bank's security service begins to take an interest in him. This is explained by the fact that a clear procedure has been developed for issuing loans, and banks are confident that if instructions are strictly followed, problem debt can be avoided. If a manager has a lot of loans with unfulfilled obligations, it means he is not coping with his responsibilities.

The specificity of the work of a credit manager is to increase the volume of loans with a minimum amount of problem debt.

Features of work

When applying for a job as a credit manager, the requirements are low, and lack of work experience is not a hindrance. At the same time, this specialty allows you to make a fast career in the promising banking market. The higher an employee climbs the career ladder, the higher the demands placed on him.

To achieve success, you need to have a good feel for the credit market, be able to communicate with borrowers, clearly identify their needs and have the skills of a psychologist. In addition, you must have high performance and stress resistance.

Traditionally, financial workers have high incomes, so vacancies in banking and lending attract more and more applicants every day. You can start a career in a bank even without special education or special skills if you get a position as a loan specialist. The list of responsibilities of a loan specialist at each specific workplace is different, but there are general requirements that the applicant must meet.

So, for the position? Let us consider the content of the activity and its inherent conditions.

Loan processing by both individuals and legal entities occurs daily. Organizations use the funds raised to buy equipment, engage in advertising and invest money in business development or paying off debts. Individuals buy real estate or cars, furniture or appliances using loans. And if you decide to take out a loan, then it’s time to contact a loan specialist. His responsibilities include initial consultation with clients, filling out loan applications, monitoring the process of obtaining borrowed funds and signing documents. The credit manager must help the client choose a financial product, calculate loan rates and draw up an agreement based on oral agreements.

Place of work

The place of work of such a specialist can be not only a bank, but also a large electronics or jewelry store, a car dealership or an apartment sales office.

Important! Communication with a loan specialist is the first step towards obtaining a loan.

From the point of view of career growth, it is best to choose a bank as your place of work. Here, a loan specialist will not only be able to provide the client with any banking service from the wide range available in the arsenal of a financial institution, but will also have the opportunity to develop daily in the profession, gaining valuable experience.

In stores and sales offices, the work of a credit manager often comes down to simply advising citizens about the procedure for applying for a loan, the necessary documents and interest rates.

What qualities do you need to have?

Without experience and special knowledge, career growth in the banking sector is impossible. As a rule, after working with individuals, a specialist is transferred to the corporate client service department, where the volume of lending will increase significantly, as will the income of the credit manager.

The financial sector prefers proven personnel, so an experienced employee should seek promotion if a suitable vacant position is available.

Requirements

What qualities, according to staffing agencies, should an applicant for the position of a loan specialist have? Here they are:

• openness and sociability;
• literacy and neatness;
• modesty and restraint;
• good learning ability, desire for professional growth;
• ability to build a dialogue;
• ability to assimilate a significant amount of information;
• the desire to be part of a team and the ability to “fit in” with the team;
• understanding the norms and rules of corporate culture and ethics;
• experience is desirable.

Although specialized economic education will be a definite plus, it is not a determining factor in the approval of a loan specialist. The bank provides mandatory training, during which employees receive the necessary amount of knowledge.

Personality traits

When choosing characteristics when writing a resume, pay attention to the qualities that are preferable for bank employees:

1. Tactfulness and sociability. The work of a loan officer involves constant communication, and important information about loans and interest must be conveyed in an understandable and polite manner. The manager must have sufficient persuasiveness and good verbal communication skills. Sometimes you will have to smooth out conflict situations and correct the negative attitude of clients towards banks in general and their staff in particular. Every employee - This is a bank representative!
2. Emotional stability - will be useful during communication, because a variety of people borrow funds from the bank. Bank employees often have to deal with rudeness and lack of education from clients. Such situations require special attention from the loan officer, because he cannot afford to be rude in response. One of the responsibilities of bank managers is to maintain ethical standards no matter the situation.
3. Attention to detail. The fact is that multitasking is the norm in the work of a credit manager. Often he answers the client’s questions, searches for the necessary information and draws up a contract at the same time. Moreover, it is impossible to make a mistake when drawing up papers, so attentiveness occupies one of the most important places in the set of personal qualities important to bank employees.
4. Responsibility. A loan officer represents a particular bank, so it is he who is responsible for the impression that clients have about this financial institution. The quality of its work determines the likelihood of clients returning to this bank.

Job description

Job description - this is the basic document that regulates the duties and status of the employee. It contains a complete list of the employee’s responsibilities and rights, capabilities and requirements for him. For each specific position: be it a lending expert, a loan consultant or an assistant manager.

General rules

The document clarifies the employee’s place in the overall structure of the organization, indicating his manager and the head of the department as a whole.

It is clearly stated what is required of the employee. So, to fill a vacancy as a loan specialist, you need a higher education in economics and finance, or at least 3 years of work experience. If an applicant applies for the position of assistant manager, then the requirements are reduced.

Knowledge

What should a loan officer know?

The employee must, one way or another, have sufficiently deep knowledge of the following phenomena:

• basics of labor and financial legislation (from the banking code to laws on mortgages and lending);
• procedure and methods for assessing risks when applying for a loan;
• what does the solvency of companies and individuals depend on and what does it mean?
• assortment of bank offers with a description of each of them;
• labor safety and health regulations;
• features of working with classified information (information constituting a trade secret or personal data of citizens);
• software used.

Responsibilities

In the course of his work, the credit manager must ensure compliance with:

• Russian legislation;
• bank documentation (from the Charter of the enterprise to orders and instructions from management);
• standards of corporate communication with colleagues and clients.

Main functional responsibilities

Functions of a credit specialist:

• advising clients on current loan offers;
• informing clients about what requirements the bank imposes on potential borrowers;
• accepting applications and reviewing documents provided during the loan application process;
• checking the client's solvency;
• formation and maintenance of loan agreements;
• control over payment of debts;
• loan analysis;
• generation of reports based on the results of the quarter;
• participation in the creation and implementation of new banking products;
• timely warning to the loan service about the presence of overdue loans.

This is just a sample list, which each bank branch supplements locally. Loan managers are sometimes responsible for defending accepted applications at the loan approving office.

Important! It happens that loan specialists maintain computer databases and also conduct explanatory conversations with defaulters. Sometimes they have to combine the positions of insurance agents, sales managers and appraisers.

Moreover, a number of responsibilities imply a wide list of tasks.

For example, counseling includes:

• comparative analysis of several financial products;
• calculation of loan interest;
• formation of a repayment schedule that will take into account the interests of the client;
• calculation of the total final cost of the loan (the client will have to pay this amount to the bank);
• providing information on reducing interest or increasing the loan amount (guarantee, insurance).

Responsibility of a specialist and his rights

According to the job description, the credit manager has the right to:

• obtaining information about management decisions related to him;
• training;
• developing proposals for improving one’s own activities, as well as familiarizing management with these developments;
• Demanding from colleagues information necessary to solve official problems.

The specialist bears moral and material responsibility for poor performance of his direct duties, offenses committed by him or financial damage caused to the bank, in accordance with current legislation.

Wage

The amount of earnings of a credit manager is influenced by the efficiency of his work. Typically, income consists of a fixed-rate salary and a bonus, which depends on the number of signed contracts. Customer complaints (if any), late payments and other factors are also taken into account.

On average, the salary of a loan specialist ranges from 50 to 80 thousand rubles, the share of salary in it - 20 - 25 thousand rubles.

Advantages and disadvantages of the position

Among the advantages of the profession I would like to highlight:

• minimum skills to start working in the banking sector;
• high wages with high efficiency;
• opportunity for career growth and further education;
• work in large financial structures with a developed system of corporate bonuses.

The position of a loan specialist is suitable for self-motivated and active people who are ready to develop and are able to communicate with a wide variety of people. And if the employee manages to show his best side, then within 2 - 3 years is likely to increase it.

There are also disadvantages for this vacancy. For example, people who have difficulty experiencing stressful situations and do not know how to deal with stress will have a hard time here.

The main goal of a loan specialist is to issue a loan to a reliable client who will not have problems repaying the loan in the future. It is necessary to recognize a potential defaulter through personal communication, and if this does not work, then the employee becomes ineffective and will not bring profit to the bank.

Conclusion

With the advent of the first banks in the 18th century, the modern understanding of the position of a loan officer was formed.

Looking at the loan manager position over the long term, its future is uncertain. The head of Sberbank of Russia warned of a reduction in staff involved in processing loan applications until 2025. Instead of people, this work will be done by automated systems.

In contact with

A loan officer is responsible for processing and issuing loans. He attracts clients, helps them understand the intricacies of lending and convinces them to take advantage of the loan. Essentially, this is a money seller.

The profession of a credit manager is in high demand in the labor market. Loan specialists facilitate purchases here and now, thereby bringing profit to banks and stores.

Places of work

Credit consultants are, as a rule, bank employees, although you can meet them at a car dealership, a real estate agency, or a regular shopping center. They usually specialize by type of loan - consumer, mortgage, car loans or business loans.

History of the profession

The history of the profession of a credit specialist began with the advent of money as such, because at the same time people began to borrow money. The modern understanding of the position began to take shape in the middle of the 18th century, when the first banks appeared.

Responsibilities of a loan officer

Typically, the job responsibilities of a loan officer are as follows:

• advising clients on financial issues;
• selection of the optimal loan program;
• calculation of the loan amount and payments to repay it;
• conclusion of contracts;
• maintaining documentation and reporting.

Sometimes the functions of a loan officer may include the responsibilities of a sales manager, appraiser or insurance agent:

• searching for clients and selling them lending services;
• checking the reliability and solvency of the client;
• determining the value of the borrower's property;
• insurance of property, health, life, business risks.

Requirements for a loan specialist

A candidate for the position of credit specialist must meet the following requirements:

• higher or secondary education;
• competent speech and neat appearance;
• knowledge of banking products;
• Confident PC skills;
• Experience in sales or banking preferred.

Loan specialist resume sample

Education

To become a credit specialist, you need to obtain a higher or secondary education in finance and credit. Specialists acquire all other skills in the process of work, because banks independently train them in their loan products.

Loan specialist salary

A loan specialist receives from 25 to 80 thousand rubles per month. The level of income depends on length of service and professional achievements. The average salary of a loan specialist is 35 thousand rubles per month.

Where to get training

In addition to higher education, there are a number of short-term training on the market, usually lasting from a week to a year.

Interregional Academy of Construction and Industrial Complex and its courses in the direction of "".

The Institute of Professional Education "IPO" invites you to take distance courses in the direction of "" (there are options 256, 512 and 1024 academic hours) to receive a diploma or state-issued certificate. We have trained more than 8,000 graduates from almost 200 cities. You can undergo external training and receive interest-free installments.

Job description of a Credit Specialist (Sales Manager)

• 1. General Provisions
• 1.1. This Job Description defines the main tasks, functions, rights, duties and responsibilities of the Credit Specialist of the Sales Group of the Sales Department of the Moscow Directorate (hereinafter referred to as the “Employee”) of the Limited Liability Company “Home Credit and Finance Bank” (hereinafter referred to as the “Bank”).
• 1.2. The employee belongs to the “CS” category. An employee is appointed and dismissed from his position, and also transferred to another job by Order (instruction) in the manner established by the Bank.
• 1.3. The employee reports directly to the Head of the Sales Group, the Head of the Credit Products Sales Department, as well as the Director of Sales in Moscow and the Moscow Region of the Credit Products Sales Department of the Moscow Directorate.
• 1.4. The Employee's workplace is the administrative office of the Bank.
• 1.5. In his activities, the Employee is guided by:
• 1.5.1. your employment contract and this Job Description;
• 1.5.2. legislative acts of the Russian Federation;
• 1.5.3. charter and other internal documents of the Bank;
• 1.5.4. Regulations on the Department for Sales of Credit Products of the Moscow Directorate (hereinafter referred to as the “Department”);
• 1.5.5. regulations on the organization of work of administrative points of HCF Bank LLC;
• 1.5.6. regulatory and methodological documents on organizing sales of banking products;
• 1.5.7. Instructions on the behavior of the Credit Specialist of the Credit Products Sales Department at the Administrative Point of HCF Bank LLC;
• 1.5.8. orders (instructions) of the Bank’s management and his immediate superior.
• 2. Qualification requirements
• 2.1. Persons with completed secondary education and successfully completed training are appointed to the position of Employee.
• 2.2. Additional qualification requirements:
• 2.2.1. Possession of theoretical and practical knowledge on drawing up loan agreements;
• 2.2.2. knowledge of the basic psychology of communication with customers;
• 2.2.3. knowledge of document management;
• 2.2.4. knowledge of the basics of sales theory and overcoming objections;
• 2.2.5. Possession of skills in using computer and office equipment in user mode.
• 3. Main tasks and functions

The tasks and functions are:

• 3.1. Error-free execution of loan agreements, according to methodological instructions.
• 3.2. Consulting customers in the sales area and at the Bank’s administrative office on consumer lending issues.
• 3.3. Timely preparation and submission of necessary reports to your immediate supervisor.
• 3.4. Prompt notification of your immediate supervisor about the occurrence of emergency situations.
• 4. Job responsibilities

The employee is obliged:

• 4.1. Receive documents required to open an account of the appropriate type, check the proper execution of documents, the completeness of the information provided and their reliability in cases and in the manner established by Instruction 28-I and internal documents (banking rules) of the Bank.
• 4.2. Directly interact with clients and their representatives, request and receive the necessary information, evaluate the information received and perform other actions provided for by Instruction 28-I and internal documents (banking rules) of the Bank.
• 4.3. Carry out the client identification procedure and check whether the client has legal capacity (capacity) in accordance with internal documents (banking rules) of the Bank.
• 4.4. Make and certify copies of documents submitted by the client.
• 4.5. Prepare cards with sample signatures and client seal imprints in the manner prescribed by Instruction 28-I and internal documents (banking rules) of the Bank.
• 4.6. Avoid making corrections and additions to loan agreements and other loan documentation.
• 4.7. Ensure the reception, accounting, registration, control and transfer of loan documentation to the Bank’s administrative office.
• 4.8. Know and follow the instructions contained in the Bank's orders and information letters.
• 4.9. Providing timely information to the immediate supervisor about the opening/closing of sick leave and planned leave.
• 4.10. Be responsible for the safety of loan documentation, information contained in information letters and orders, as well as any other internal information of the Bank’s administrative office.
• 4.11. Comply with internal labor regulations.
• 4.12. Comply with the requirements of the “Instructions on the conduct of the Administrator of the Sales Department of Credit Products / Administrator of the Regional Representative Office at the Administrative Point of HCF Bank LLC”, “Regulations on the organization of work of administrative points of HCF Bank LLC” and this job description.
• 4.13. Comply with the rules and regulations of labor protection, safety, industrial sanitation and fire protection.
• 5. Rights

The employee has the right:

• 5.1. Make proposals to improve the work of the Department.
• 5.2. Endorse documents within your competence.
• 5.3. Make decisions within your competence.
• 6. Responsibility

The employee is responsible:

• 6.1. For the safety of property owned by the Bank.
• 6.2. For disclosing commercial and banking secrets.
• 6.3. For undermining the image and business reputation of a Bank Employee.
• 6.4. For violation of labor laws.
• 6.5. For the economical and rational use of allocated material and technical resources.
• 6.6. For compliance with safety regulations, labor protection standards, and fire safety regulations at your workplace.
• 6.7. For unclear or untimely performance of official duties.
• 6.8. For careless, negligent attitude towards the preparation and storage of documents, untimely preparation or provision of documents, opinions, recommendations, reports or notifications.

[Corporate logo of the credit institution]

[Name of the bank]

Appendix 9

to the Order on approval and introduction
into force of job descriptions
Department employees
lending
from ["__" _________ 20__] № [_____]

JOB DESCRIPTION
credit consultant

1.1. Position: credit consultant of the retail lending department (hereinafter referred to as the Credit Consultant).

1.2. A credit consultant is appointed to a position and dismissed by order of the [manager (position name)] of [the bank (its name is indicated)] (hereinafter referred to as the Bank).

1.3. The credit consultant submits to, reports to, receives orders and work instructions from the head of the personal lending department (hereinafter referred to as the Head of the Department), and in his absence, from the person performing his duties.

1.4. Labor relations between the Credit Consultant and the Bank are based on the legislation of the Russian Federation, internal regulations of the Bank and this job description.

1.5. The purpose of the position is initial interaction with clients when carrying out work on lending to individuals in order to increase the Bank's income, satisfy the economic interests of borrowers and increase the profitability of the Bank's activities.

1.6. The Bank provides the Credit Consultant with a workplace and a compensation package in accordance with the Personnel Regulations*.

*	Or with the terms of the employment contract, or another document.

1.7. Working hours: normal working hours.

2.1. The credit consultant performs the following functions:

2.1.1. Provides initial credit servicing to individual clients:

Accepts and reviews loan applications for loans from individuals;

Forms a package of documents for obtaining a loan;

Analyzes the creditworthiness of clients - individuals based on the documents provided;

Submits the borrower's documents for review by employees of supporting departments;

Draws up a conclusion on the feasibility of issuing a loan, lending conditions and forms of ensuring the repayment of issued loans.

2.1.2. Participates in work to study the bank lending market for individuals.

2.1.3. Consults clients - individuals on lending issues.

2.1.4. Keeps records of concluded loan agreements, collateral agreements and transactions carried out on them in accordance with the rules adopted by the Bank.

2.1.5. Studies legislation and modern technologies in the field of bank lending to individuals.

2.1.6. Develops and submits current reports on its activities to the head of the Department.

2.1.7. Carries out activities within the framework of combating the legalization of proceeds from crime and the financing of terrorism.

2.1.8. Makes proposals to the Head of the Department to improve existing and introduce new forms and methods of work.

2.1.9. Performs other duties within the scope of authority determined by the Bank’s internal documents and legislative acts.

2.2. When performing his functions, the Credit Consultant is obliged to:

2.2.1. Perform duties in accordance with the Bank's policies and procedures for the provision of banking services and the development of the Bank.

2.3. When performing his functions, the Credit Inspector has the right:

2.3.1. Conduct negotiations with clients on behalf of the Bank within the limits of their competence in accordance with this job description.

3.1.Required:

3.1.1. Secondary specialized (financial or accounting) education.

3.1.2. Knowledge of regulations, instructions and other governing documents of the Central Bank of the Russian Federation on lending issues.

3.1.3. Knowledge of the basics of tax legislation of the Russian Federation to the extent sufficient to carry out the assigned functions.

3.1.4. At least one year of experience working in a credit institution.

3.1.5. No criminal record.

3.1.6. Absence of facts of termination of the employment contract at the initiative of the employer in accordance with paragraph 7 of Article 81 of the Labor Code of the Russian Federation within one year preceding the day of appointment to the relevant position.

3.1.7. Ownership of a personal computer - MS Word and MS Excel package to the user's extent.

3.2. Desirable:

3.2.1. Possibility to work overtime.

3.2.2. Good learning ability.

3.2.3. Communication skills.

4.1. The credit consultant is responsible for the proper implementation of this job description, the instructions of the Head of the Department, the requirements of current legislation and internal regulations of the Bank regarding the implementation of the Bank's credit policy.

5.1. Upon appointment to a position, approval is required from the Head of the Department.

I have read this job description and I have received a copy:

(date of)		(signature)		(first name, patronymic, last name)