The traditional image of a bank clerk counting money and handing it to the customer at the counter is not the only one seen in modern times. Now you will get much more interesting jobs in banking sectors. More and more graduates are opting for these jobs because they provide them with a lot of job satisfaction, prospects, and scope. Working side-by-side with traditional bank managers, these new job prospects have added a new dimension to the banking industry in terms of performance, products and overall customer satisfaction. Here are some interesting choices you can make for a career in the financial market.
Liaison with creditors
If you are detail-oriented and have good communication skills, are organized and have the ability to make decisions quickly, you can join the banking workforce as a creditors.
You will be a meticulous team player and work to support the Negotiations Department in a wider range of administrative functions. As a member of the team, your main tasks and responsibilities will include:
- Liaise with external service providers
- Exchange of customer account data and documents
- Work with other team members to ensure efficient data processing
- Act as the primary point of contact for members of the trading department
- Identify areas for improvement of existing process and policies
- Monitoring of processes followed by the document retention team
- Compile and analyze relevant statistics on a monthly and annual basis
- Management of confidential documents and information
- Maintain a high level of discretion with other members and management
- Manage issues related to the various projects in an efficient and proactive manner until their successful completion and
- Perform other duties assigned by managers from time to time.
To be successful as a Creditor Liaison Officer, you will need the following skills and experience:
- Exceptional written and verbal communication skills
- Proficiency in MS Office and Excel
- Extremely reliable and responsible
- Excellent organizational skills
- Superior time management skills
- Strong interpersonal skills
- Ability to work with and at all levels and
- Ability to juggle tasks and prioritize each project simultaneously.
In return for your service, you will lose rewards and recognition which may vary from organization to organization depending on their policy. However, common benefits that may be provided to you include:
- Offer of mentoring and leadership programs
- Medical, dental and vision
- Paid holidays, vacations and sick days
- Fixed term paid parental leave
- Pre-tax transit benefits and many more
You can also get special perks like life insurance and even a discounted gym membership from some big companies. However, you should also check debt consolidation reviews before joining a new debt settlement company to ensure its authenticity.
Consolidation loan underwriter
Almost every person takes out multiple loans and most of them find it difficult to keep up with their monthly payments. Few find it difficult to continually settle the money for multiple bills and therefore seek an easy way to repay their loans. Debt consolidation is therefore in great demand at the moment and you can make it a good career for yourself in the banking sector. You’ll empower consumers to overcome debt and help them create a brighter financial future. You will be responsible for finding better financial results that are beneficial to both the client and the organization you work for.
As a consolidation loan underwriter, you will also be responsible for evaluating consolidation loan applications in a timely manner. Based on your assessment of the supporting documents, the organization will ultimately decide whether the submitted application will be approved or not. Sometimes negotiating with creditors over the amount of debt does not bring anything good. The negotiation might even fail to lower the interest rate or reduce the amount of debt. Well, if debts are not paid on time, it could reflect badly on credit scores. Well, before you lose all hope that you could save your credit rating and your startup business from bankruptcy, consider the debt consolidation loan option which has proven to be beneficial in various types of situations. It is a very effective and best option to consider when debt issues get out of control.
Other than that, you can even suggest some additional background material that can help in making a decision. You will assess the creditworthiness of the borrower according to different parameters such as:
- Debt to income ratios
- Loan to value ratio
- Net disposable income ratio
- credit history
- FICO score
- Income documents and
- Bank statements.
Your specific role will include:
- Achieve daily, weekly and monthly productivity goals set by management
- Meet quality standards by reviewing worked files
- Follow the credit policy while making a decision
- Willing to answer questions from colleagues or internal partners as needed in a positive demeanor
- Understand the credit model, income calculator, and other tools and systems
- Ensure compliance with company standards and policies
- Make outbound calls to clients for clarification or to communicate a denial decision
- Adhere to established guidelines while talking to customers and
- Ensure that all personal financial data is stored properly and disposed of in accordance with department standards or local, state, and federal regulations.
To be successful as a consolidation loan underwriter, you must have some experience with unsecured loans and several other financial instruments such as:
- Credit reports and score
- Analysis of bank statements and
- Income statements.
You will also need to have certain behavioral attributes such as:
- You must be focused, meticulous and have a sense of service. On top of that, you need to be computer savvy and adapt to a flexible work schedule.
- You must have the tolerance to accept and adapt to change and know the core values of the company you work for.
- You must show care and compassion to everyone in order to contribute to the well-being of customers and the growth of the company.
- You should always act with integrity and take the right steps even in difficult times or when no one is watching.
- Before opting for a debt consolidation loan plan, fully analyze your debt situation and then consider taking it. Check the finances and start taking action.
- You must learn and improve with each passing day and know how to innovate, improve and iterate. You must be creative enough to take thoughtful, well-calculated risks and recover and learn from past failures.
Ultimately, you need to collaborate with everyone to work as a team and serve a common goal. The person with good credit gets approved for the loan while the person with bad credit is not eligible although some lenders sanction the loan but at very high rate of interest. You need to be proactive enough to share information by inviting others to participate so that you get a better idea of the issue from all possible angles of different groups.
Since banking is generally a service industry where you will be working with many repeat customers as well as new customers, you need to embrace a healthy and constructive work culture.
(Isabelle Rossellini is a well-known blogger and has written for many years for articles on investment banking. It has been associated with large companies such as NationalDebtRelief).
(Disclaimer: the opinions expressed are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse claims no responsibility for them.)