Job Duties Custom List 13-2072.00 — Loan Officers
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
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- Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
- Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
- Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
- Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
- Manage client portfolios, keeping client plans up-to-date.
- Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
- Answer clients' questions about the purposes and details of financial plans and strategies.
- Contact clients periodically to determine any changes in their financial status.
- Investigate available investment opportunities to determine compatibility with client financial plans.
- Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
- Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
- Prepare or interpret for clients information, such as investment performance reports, financial document summaries, or income projections.
- Monitor financial market trends to ensure that client plans are responsive.
- Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
- Recruit and maintain client bases.
- Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
- Devise debt liquidation plans that include payoff priorities and timelines.
- Open accounts for clients, and disburse funds from accounts to creditors as agent for clients.
- Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
- Inform clients about tax benefits, government rebates, or other financial benefits of alternative-fuel vehicle purchases or energy-efficient home construction, improvements, or remodeling.
- Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.
- Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
- Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
- Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
- Calculate clients' available monthly income to meet debt obligations.
- Explain services or policies to clients, such as debt management program rules, advantages and disadvantages of using services, or creditor concession policies.
- Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
- Prioritize client debt repayment to avoid dire consequences, such as bankruptcy or foreclosure or to reduce overall costs, such as by paying high-interest or short-term loans first.
- Recommend strategies for clients to meet their financial goals, such as borrowing money through loans or loan programs, declaring bankruptcy, making budget adjustments, or enrolling in debt management plans.
- Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
- Interview clients by telephone or in person to gather financial information.
- Estimate time for debt repayment, given amount of debt, interest rates, and available funds.
- Prepare written documents to establish contracts with or communicate financial recommendations to clients.
- Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
- Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or payment plans.
- Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
- Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
- Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
- Recommend educational materials or resources to clients on matters, such as financial planning, budgeting, or credit.
- Refer clients to social service or community resources for needs beyond those of credit or debt counseling.
- Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions.
- Teach courses or seminars on topics, such as budgeting, management of personal finances, or financial literacy.
- Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.
- Disburse funds from client accounts to creditors.
- Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve client or creditor problems.
- Assess clients' overall financial situations by reviewing income, assets, debts, expenses, credit reports, or other financial information.
- Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
- Evaluate capital needs of clients and assess market conditions to inform structuring of financial packages.
- Assess companies as investments for clients by examining company facilities.
- Advise clients on aspects of capitalization, such as amounts, sources, or timing.
- Analyze financial or operational performance of companies facing financial difficulties to identify or recommend remedies.
- Collaborate on projects with other professionals, such as lawyers, accountants, or public relations experts.
- Collaborate with investment bankers to attract new corporate clients.
- Conduct financial analyses related to investments in green construction or green retrofitting projects.
- Confer with clients to restructure debt, refinance debt, or raise new debt.
- Create client presentations of plan details.
- Determine the prices at which securities should be syndicated and offered to the public.
- Develop and maintain client relationships.
- Draw charts and graphs, using computer spreadsheets, to illustrate technical reports.
- Employ financial models to develop solutions to financial problems or to assess the financial or capital impact of transactions.
- Evaluate and compare the relative quality of various securities in a given industry.
- Inform investment decisions by analyzing financial information to forecast business, industry, or economic conditions.
- Interpret data on price, yield, stability, future investment-risk trends, economic influences, and other factors affecting investment programs.
- Monitor developments in the fields of industrial technology, business, finance, and economic theory.
- Monitor fundamental economic, industrial, and corporate developments by analyzing information from financial publications and services, investment banking firms, government agencies, trade publications, company sources, or personal interviews.
- Perform securities valuation or pricing.
- Prepare all materials for transactions or execution of deals.
- Prepare plans of action for investment, using financial analyses.
- Present oral or written reports on general economic trends, individual corporations, and entire industries.
- Purchase investments for companies in accordance with company policy.
- Recommend investments and investment timing to companies, investment firm staff, or the public.
- Specialize in green financial instruments, such as socially responsible mutual funds or exchange-traded funds (ETF) that are comprised of green companies.
- Supervise, train, or mentor junior team members.
- Evaluate capital needs of clients and assess market conditions to inform structuring of financial packages.
- Assess companies as investments for clients by examining company facilities.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
- Decrease value of policy when risk is substandard and specify applicable endorsements or apply rating to ensure safe, profitable distribution of risks, using reference materials.
- Authorize reinsurance of policy when risk is high.
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
- Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money.
- Complete loan applications, including credit analyses and summaries of loan requests, and submit to loan committees for approval.
- Generate financial ratios, using computer programs, to evaluate customers' financial status.
- Prepare reports that include the degree of risk involved in extending credit or lending money.
- Analyze financial data, such as income growth, quality of management, and market share to determine expected profitability of loans.
- Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
- Consult with customers to resolve complaints and verify financial and credit transactions.
- Contact customers to collect payments on delinquent accounts.
- Review individual or commercial customer files to identify and select delinquent accounts for collection.
- Confer with credit association and other business representatives to exchange credit information.
- Evaluate customer records and recommend payment plans, based on earnings, savings data, payment history, and purchase activity.
- Examine and analyze tax assets and liabilities to determine resolution of delinquent tax problems.
- Send notices to taxpayers when accounts are delinquent.
- Confer with taxpayers or their representatives to discuss the issues, laws, and regulations involved in returns, and to resolve problems with returns.
- Notify taxpayers of any overpayment or underpayment, and either issue a refund or request further payment.
- Maintain records for each case, including contacts, telephone numbers, and actions taken.
- Contact taxpayers by mail or telephone to address discrepancies and to request supporting documentation.
- Answer questions from taxpayers and assist them in completing tax forms.
- Collect taxes from individuals or businesses according to prescribed laws and regulations.
- Determine appropriate methods of debt settlement, such as offers of compromise, wage garnishment, or seizure and sale of property.
- Check tax forms to verify that names and taxpayer identification numbers are correct, that computations have been performed correctly, or that amounts match those on supporting documentation.
- Impose payment deadlines on delinquent taxpayers and monitor payments to ensure that deadlines are met.
- Conduct independent field audits and investigations of income tax returns to verify information or to amend tax liabilities.
- Direct service of legal documents, such as subpoenas, warrants, notices of assessment, and garnishments.
- Review filed tax returns to determine whether claimed tax credits and deductions are allowed by law.
- Maintain knowledge of tax code changes, and of accounting procedures and theory to properly evaluate financial information.
- Process individual and corporate income tax returns, and sales and excise tax returns.
- Request that the state or federal revenue service prepare a return on a taxpayer's behalf in cases where taxes have not been filed.
- Investigate claims of inability to pay taxes by researching court information for the status of liens, mortgages, or financial statements, or by locating assets through third parties.
- Review selected tax returns to determine the nature and extent of audits to be performed on them.
- Examine accounting systems and records to determine whether accounting methods used were appropriate and in compliance with statutory provisions.
- Participate in informal appeals hearings on contested cases from other agents.
- Prepare briefs and assist in searching and seizing records to prepare charges and documentation for court cases.
- Enter tax return information into computers for processing.
- Secure a taxpayer's agreement to discharge a tax assessment or submit contested determinations to other administrative or judicial conferees for appeals hearings.
- Install systems of recording costs or other financial and budgetary data or provide advice on such systems, based on examination of current financial records.
- Examine and analyze tax assets and liabilities to determine resolution of delinquent tax problems.
- Evaluate taxpayer finances to determine tax liability, using knowledge of interest and discount rates, annuities, valuation of stocks and bonds, and amortization valuation of depletable assets.
- Prepare detailed reports on audit findings.
- Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.
- Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
- Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
- Supervise auditing of establishments, and determine scope of investigation required.
- Confer with company officials about financial and regulatory matters.
- Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity.
- Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate.
- Examine records and interview workers to ensure recording of transactions and compliance with laws and regulations.
- Prepare, examine, or analyze accounting records, financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.
- Prepare adjusting journal entries.
- Review accounts for discrepancies and reconcile differences.
- Establish tables of accounts and assign entries to proper accounts.
- Examine inventory to verify journal and ledger entries.
- Analyze business operations, trends, costs, revenues, financial commitments, and obligations to project future revenues and expenses or to provide advice.
- Report to management regarding the finances of establishment.
- Develop, implement, modify, and document recordkeeping and accounting systems, making use of current computer technology.
- Examine whether the organization's objectives are reflected in its management activities, and whether employees understand the objectives.
- Audit payroll and personnel records to determine unemployment insurance premiums, workers' compensation coverage, liabilities, and compliance with tax laws.
- Review taxpayer accounts, and conduct audits on-site, by correspondence, or by summoning taxpayer to office.
- Compute taxes owed and prepare tax returns, ensuring compliance with payment, reporting, or other tax requirements.
- Advise clients in areas such as compensation, employee health care benefits, the design of accounting or data processing systems, or long-range tax or estate plans.
- Represent clients before taxing authorities and provide support during litigation involving financial issues.
- Direct activities of personnel engaged in filing, recording, compiling, and transmitting financial records.
- Conduct pre-implementation audits to determine if systems and programs under development will work as planned.
- Develop, maintain, or analyze budgets, preparing periodic reports that compare budgeted costs to actual costs.
- Prepare, analyze, or verify annual reports, financial statements, and other records, using accepted accounting and statistical procedures to assess financial condition and facilitate financial planning.
- Process invoices for payment.
- Review data about material assets, net worth, liabilities, capital stock, surplus, income, or expenditures.
- Evaluate taxpayer finances to determine tax liability, using knowledge of interest and discount rates, annuities, valuation of stocks and bonds, and amortization valuation of depletable assets.
