Skills & Knowledge
Most Important Skills for Loan Officers
- Listening—Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Reading—Understanding written sentences and paragraphs in work related documents.
- Speaking—Talking to others to convey information effectively.
- Thinking Critically—Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Making Decisions—Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Helping Others—Actively looking for ways to help people.
- Writing—Communicating effectively in writing as appropriate for the needs of the audience.
- Mathematics—Using mathematics to solve problems.
- Solving Complex Problems—Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Learning New Things—Understanding the implications of new information for both current and future problem-solving and decision-making.
Most Important Knowledge Areas for Loan Officers
- Customer and Personal Service—Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Sales and Marketing—Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Mathematics—Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- English Language—Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Clerical—Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
- Economics and Accounting—Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Law and Government—Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Computers and Electronics—Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Administration and Management—Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Education and Training—Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Different careers may be a good fit for your personality or interests. This career is:
- Conventional—Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising—Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Learn more about your interests. Take the MnCareers Interest Assessment.
Describe Your Skills
People who have worked in this career typically perform the following tasks. These statements can help a prospective employer understand what you can do, on a resume or during an interview.
- Collecting information from different sources.
- Creating and maintaining interpersonal relationships.
- Making decisions or solving problems.
- Using computers.
- Compiling, calculating, tabulating, or otherwise processing information.
- Organizing, planning, and prioritizing work.
- Working directly with the public.
- Keeping up-to-date with new knowledge.
The following careers use skills, knowledge, and abilities that are similar to those used for Loan Officers.
This page includes information from the O*NET 24.2 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA.
Source: You can learn about our data sources in the About Us section.