Credit and Loans Officers (Aus) / Finance Clerks (NZ) (ANZSCO 5522)
Credit and Loans Officers (AUS) / Finance Clerks (NZ) are professionals who are responsible for analyzing, evaluating, and processing credit and loan applications. They play a crucial role in the financial sector by assessing the creditworthiness of individuals and businesses and determining their eligibility for loans and credit.
Indicative Skill Level:
Most occupations within the Credit and Loans Officers (AUS) / Finance Clerks (NZ) unit group require a certain level of skill, which can be acquired through qualifications and experience. The skill level for this occupation is outlined below:
In Australia:
- AQF Certificate III, which includes at least two years of on-the-job training, or
- AQF Certificate IV, or
- At least three years of relevant experience (ANZSCO Skill Level 3)
In New Zealand:
- NZQF Level 4 qualification, or
- At least three years of relevant experience (ANZSCO Skill Level 3)
In some cases, additional on-the-job training and/or relevant experience may be required in addition to formal qualifications.
Tasks Include:
- Analyzing information about customers and examining references, credit ratings, investment risks, pay slips, and other relevant information against predetermined policy standards
- Contacting financial and credit institutions to gather information about customers
- Preparing documentation outlining the conditions of credit and loans, repayment rates, loan periods, and providing information about customers' financial standing to financial and credit institutions
- Authorizing the approval of credit and loan applications, as well as recommending credit and loan conditions and limits
- Keeping records of payments and preparing routine letters to request payment for overdue accounts, and forwarding these for legal action if necessary
- Responding to inquiries regarding customers' credit standing, loan balances, and penalties
- May recommend, approve, and arrange mortgages
- May work in a call center
Occupation:
- 552211 Credit or Loans Officer (Aus) / Finance Clerk (NZ)
Alternative Titles:
- Lending Consultant
- Loans Consultant
- Loans Officer
Overall, Credit and Loans Officers (AUS) / Finance Clerks (NZ) play a vital role in the financial industry by assessing credit and loan applications, ensuring compliance with policies and regulations, and providing valuable financial information to customers and financial institutions.