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The loan processor is in charge of providing loans to customers that satisfy a series of rules. This person can manage loans either for consumer or business clients and apply a different process depending on the type. Several skill are required to carry out this job.
The person on this position needs to have knowledge around how financial institutions work as loans are directly related to them. Because this position also works with direct customers, any question that they have needs to be answered from a banking perspective.
This position needs to interact on daily basis with customers so social skills are necessary. Explaining the different loan options to customers is a must so they informed when taking their decision.
Part of this position is validating that the customer meets the proper requirements to get the loan. For example, validating the credit score. These actions require working with different types of software that will get that information. Also needs to deal with software from the financial institution to create proper customer profiles and loan and credit information.