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Loan officers work in financial institutions, where they are responsible for helping customers with loan inquiries and loan applications. These loans could be for college tuition, down payment for a home, or to purchase a car. Part of their job involves educating potential customers on the stipulations and requirements for taking the loan, potential risk factors and repayment terms They also help customers with calculating the amount of loan they need to take for their purpose.
While a high school diploma in accounts, economics, finance or business may be sufficient to get hired by a smaller financial institution, more established companies will only consider applicants who have completed their bachelor's degree in these fields. Loan officers must have excellent analytical, problem-solving, decision-making, and customer service skills.
At your interview, the interviewer will ask you if you've had any experience in this field and what were your exact responsibilities during that time. They will also ask you about your career goals and whether you see yourself doing this same job or switching careers five or ten years down the line. To be better prepared for your interview, go to Mock Questions where you will find a list of questions that interviewers usually ask applicants applying for a loan officer position.