What is a Loan Review Manager Job?
A loan review manager job is a position that is responsible for reviewing and analyzing loan portfolios to ensure compliance with regulatory and company policies. The loan review manager is typically a senior-level position within a financial institution and requires extensive knowledge of lending practices and regulations.
What Usually Happens in This Position?
The loan review manager is responsible for overseeing the review and analysis of loan portfolios to ensure compliance with regulatory requirements and company policies. They must also identify and evaluate potential risks associated with the loan portfolio and recommend ways to mitigate those risks. Additionally, the loan review manager must communicate findings to senior management and other stakeholders.
Top 5 Skills for the Position
- Strong analytical skills
- Attention to detail
- Excellent communication skills
- Ability to work independently
- Knowledge of regulatory requirements
How to Become a Loan Review Manager
To become a loan review manager, you typically need a bachelor's degree in finance, accounting, or a related field. Many employers also require several years of experience in lending or a related field. Professional certifications, such as the Certified Regulatory Compliance Manager (CRCM) or the Certified Risk Professional (CRP), can also be helpful in securing a loan review manager job.
Average Salary
According to Glassdoor, the average salary for a loan review manager in the United States is $96,000 per year.
Roles and Types
Loan review managers can work in a variety of financial institutions, including banks, credit unions, and investment firms. They may also specialize in specific types of loans, such as commercial, residential, or consumer loans.
Locations with the Most Popular Jobs in the USA
According to Indeed, the top five states with the most job openings for loan review managers are California, Texas, New York, Florida, and Illinois.
What are the Typical Tools?
Loan review managers typically use a variety of tools and software to analyze loan portfolios, including Excel, SAS, and other data analysis tools. They may also use specialized software for loan origination, underwriting, and servicing.
In Conclusion
A loan review manager job is an important position within a financial institution that requires a strong understanding of lending practices and regulatory requirements. With a bachelor's degree and several years of experience in lending or a related field, you can pursue a career as a loan review manager and earn a competitive salary.