Sector
BFSI
Keyword

Credit Processing Officer

Loan Processing Officer

Branch Credit Manager

Loan Approval Officer

Minimum ? 12th Certified training for Loan Approval Officer (programme aligned to BSC/Q 0401 released by BFSI Sector Skill Council of India)

Preferably relevant trade and industry experience

The tasks a Loan Approval Officer is expected to perform include: Evaluating, authorizing or recommending approval of loan applications

Compiling loan application files

Performing preliminary checks

Approving loans Submitting recommendations for loans beyond their limits

Knowledge of nature and types of loans like home loan, car loan, personal loan, etc.Knowledge of the various terms and conditions of the loan

Knowledge of basic economic principles, the financial industry and markets Knowledge of credit concepts such as consumer credit, debt, credit rating etc. and methods to assess credit worthiness like debt service coverage etc.Knowledge of financial/accounting concepts such as minimum interest rates, Internal Rate of Return (IRR), payment schedule norms etc.Proficiency in laws, legal codes, court procedures, government regulations relevant to background and credit checks

Knowledge of basic computer skills

Preferably training provided by respective financial institutions

Knowledge of credit evaluation methods like 5Ps, LAPP method, CAMPARI Model

Good numerical and analytical skills

Good oral communication Problem solving skills

Decision-making skills Ability to think critically Highly motivated and self-driven

Time management skills

It is a desk job

Work from home option may not be available

Part-time work is not available

Travelling is not a part of this job role

May need to handle a team Working hours

Companies usually work 6 days a week and 9/10 hours everyday. This may vary from company to company Shift system is not available

Is the job suitable for a candidate with special needs?Maybe

This job is not considered hazardous or dangerous

Occupational hazards may include backache, poor eyesight, stress etc.

For candidates with experience ? INR 25,000 to INR 30,000 per month(These figures are indicative and subject to change)

Overview of India?s BFSI Industry

The banking & financial system of the country plays a substantial role in promoting the long-term growth of the economy. The major segments of the industry are banking, insurance and mutual funds.

Based on the expected growth in the Banking and Financial Services Industry (BFSI), it is expected that about 8.4 million people would be employed in this industry. The incremental human resource requirement between 2008 and 2022 is expected to be about 4.2 million.

The majority of the incremental requirement is in the financial intermediary segment which is primarily driven by planned development, such as JnNURM, of cities and towns where the financial services penetration is low.

Banks

Towns and cities across India