Explore unit group

Version:
NOC 2006 Version 1.0

1232 – Loan Officers

Loan officers examine, evaluate and process credit and loan applications. They are employed by banks, trust companies, credit unions and similar financial institutions.

Profile

Index of titles Example job titles

  • Adviser, loans
  • Agent, loans
  • Analyst, credit
  • Analyst, loans
  • Banking accounts manager
  • Banking accounts officer
  • Commercial banking accounts officer
  • Consumer credit officer
  • Consumer loans officer
  • Counsellor, loans
  • Credit analyst
  • Credit investigation officer
  • Credit investigator
  • Credit officer
  • Lending services officer
  • Lending services trainee
  • Loan inspector
  • Loan officer
  • Loans adviser
  • Loans agent
  • Loans analyst
  • Loans counsellor
  • Loans supervisor
  • Mortgage consultant
  • Mortgage loans consultant
  • Mortgage loans officer
  • Mortgage officer
  • Officer, banking accounts
  • Officer, credit
  • Officer, loans
  • Officer, mortgage loans
  • Personal banking accounts officer
  • Personal banking representative
  • Personal loans officer
  • Senior loans officer
  • Student loans officer
  • Credit officer
  • Loan officer
  • Mortgage officer

Main duties

This group performs some or all of the following duties:

  • 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.

Employment requirements

  • Completion of secondary school and extensive general banking experience is usually required.
  • A bachelor's degree or college diploma related to commerce or economics may be required.
  • Completion of a loan or credit training program, ranging from six to twelve months, is usually required.

Additional information

  • Progression to credit and loan management positions is possible with experience.

Exclusions

Breakdown summary

Broad occupational category
1 – Business, Finance and Administration Occupations
Skill level
B – Occupations usually require college education or apprenticeship training.
Major group
12 – Skilled Administrative and Business Occupations
Minor group
123 – Finance and Insurance Administrative Occupations
Version
NOC 2006 Version 1.0