Loan Officer

Above average salary

Below average outlook

Extensive training needed

Happy couple with contract approval. Banker approving loan investment.

What they do:

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.

On the job, you would:

Meet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Submit applications to credit analysts for verification and recommendation.
Review loan agreements to ensure that they are complete and accurate according to policy.

This role is designated under the Saudization scheme, meaning it is prioritised for Saudi nationals. Only Saudi citizens are eligible to apply for these positions as part of the national effort to strengthen local employment opportunities.

Knowledge

Business and Management

Administration and Management
Administrative
Economics and Accounting
Sales and Marketing
Customer and Personal Service
Personnel and Human Resources

Manufacturing and Production

Production and Processing

Engineering and Technology

Computers and Electronics
Building and Construction

Mathematics and Science

Mathematics
Psychology
Sociology and Anthropology
Geography

Knowledge

Education and Training
Transportation

Arts and Humanities

English Language
Foreign Language
History and Archeology
Philosophy and Theology

Law and Public Safety

Public Safety and Security
Law and Government

Communications

Telecommunications
Communications and Media

Skills

Content

Reading Comprehension
Active Listening
Writing
Speaking
Mathematics
Science

Process

Critical Thinking
Active Learning
Learning Strategies
Monitoring

Social Skills

Social Perceptiveness
Coordination
Persuasion
Negotiation
Instructing
Service Orientation

Complex Problem Solving Skills

Complex Problem Solving

Technical Skills

Operations Analysis
Technology Design
Equipment Selection
Installation
Programming
Operations Monitoring
Operation and Control
Equipment Maintenance
Troubleshooting
Repairing
Quality Control Analysis

Systems Skills

Judgment and Decision Making
Systems Analysis
Systems Evaluation

Resource Management Skills

Time Management
Management of Financial Resources
Management of Material Resources
Management of Personnel Resources

Abilities

Verbal Abilities

Oral Comprehension
Written Comprehension
Oral Expression
Written Expression

Idea Generation and Reasoning Abilities

Fluency of Ideas
Originality
Problem Sensitivity
Deductive Reasoning
Inductive Reasoning
Information Ordering
Category Flexibility

Quantitative Abilities

Mathematical Reasoning
Number Facility

Memory

Memorization

Perceptual Abilities

Speed of Closure
Flexibility of Closure
Perceptual Speed

Spatial Abilities

Visualization

Attentiveness

Selective Attention
Time Sharing

Fine Manipulative Abilities

Arm-Hand Steadiness
Manual Dexterity
Finger Dexterity

Control Movement Abilities

Control Precision

Visual Abilities

Near Vision
Far Vision
Visual Color Discrimination
Depth Perception

Auditory and Speech Abilities

Hearing Sensitivity
Auditory Attention
Speech Recognition
Speech Clarity

Salary

New workersAverageExperienced

SAR
144,338/yr

SAR
0/yr

SAR
546,675/yr

New workers start around SAR 144,338. Normal pay is SAR 278,175 per year. Highly experienced workers can earn up to SAR 546,675.

Training for this role

Job Zone Four: Considerable Preparation Needed

ExperienceOver 2 years, up to and including 4 years

Training

On-siteUp to and including 1 month
On-the-jobOver 1 month, up to and including 3 months

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What they do:

On the job, you would:

Meet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Submit applications to credit analysts for verification and recommendation.
Review loan agreements to ensure that they are complete and accurate according to policy.

Knowledge

Business and Management

Administration and Management
Administrative
Economics and Accounting
Sales and Marketing
Customer and Personal Service
Personnel and Human Resources

Manufacturing and Production

Production and Processing

Engineering and Technology

Computers and Electronics
Building and Construction

Mathematics and Science

Mathematics
Psychology
Sociology and Anthropology
Geography

Knowledge

Education and Training
Transportation

Arts and Humanities

English Language
Foreign Language
History and Archeology
Philosophy and Theology

Law and Public Safety

Public Safety and Security
Law and Government

Communications

Telecommunications
Communications and Media

Skills

Content

Reading Comprehension
Active Listening
Writing
Speaking
Mathematics
Science

Process

Critical Thinking
Active Learning
Learning Strategies
Monitoring

Social Skills

Social Perceptiveness
Coordination
Persuasion
Negotiation
Instructing
Service Orientation

Complex Problem Solving Skills

Complex Problem Solving

Technical Skills

Operations Analysis
Technology Design
Equipment Selection
Installation
Programming
Operations Monitoring
Operation and Control
Equipment Maintenance
Troubleshooting
Repairing
Quality Control Analysis

Systems Skills

Judgment and Decision Making
Systems Analysis
Systems Evaluation

Resource Management Skills

Time Management
Management of Financial Resources
Management of Material Resources
Management of Personnel Resources

Abilities

Verbal Abilities

Oral Comprehension
Written Comprehension
Oral Expression
Written Expression

Idea Generation and Reasoning Abilities

Fluency of Ideas
Originality
Problem Sensitivity
Deductive Reasoning
Inductive Reasoning
Information Ordering
Category Flexibility

Quantitative Abilities

Mathematical Reasoning
Number Facility

Memory

Memorization

Perceptual Abilities

Speed of Closure
Flexibility of Closure
Perceptual Speed

Spatial Abilities

Visualization

Attentiveness

Selective Attention
Time Sharing

Fine Manipulative Abilities

Arm-Hand Steadiness
Manual Dexterity
Finger Dexterity

Control Movement Abilities

Control Precision

Visual Abilities

Near Vision
Far Vision
Visual Color Discrimination
Depth Perception

Auditory and Speech Abilities

Hearing Sensitivity
Auditory Attention
Speech Recognition
Speech Clarity

Salary

New workersAverageExperienced

SAR
144,338/yr

SAR
0/yr

SAR
546,675/yr

New workers start around SAR 144,338. Normal pay is SAR 278,175 per year. Highly experienced workers can earn up to SAR 546,675.

Training for this role

Job Zone Four: Considerable Preparation Needed

ExperienceOver 2 years, up to and including 4 years

Training

On-siteUp to and including 1 month
On-the-jobOver 1 month, up to and including 3 months

Find an institution

Take our personality quiz to find out which jobs match to your personality.

Personalise your results