Loan Officer Salaries in Nigeria

A loan officer is someone who has extensive knowledge of the various types of loans that a financial institution can provide, as well as a complete working knowledge of the requirements or conditions that are necessary for applicants to successfully qualify for each type of loan. Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.

Duties of a Loan Officer

• Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses
• Explain different types of loans and the terms of each one to applicants
• Meet with loan applicants to gather personal information and answer questions
• Obtain and verify financial information, such as the applicant’s credit rating and income level

Qualifications of a Loan Officer

HND/B.sc in Finance, Accounting, Business or Economics.

Skills

• Critical thinking
• Monitoring
• Mathematics
• Active listening
• Effective Communication Skill

Common Loan Officer Interview Questions

• How do you explain the loan process to a new client?
• How would you ensure a client's information is kept confidential?
• Describe a situation when you reached a goal and tell us how you achieved it
• How would you recognize if an applicant is telling truth to you, for example about their financial situation?
• Sell something to us.