Loan Review Analyst Salary
Loan Review Analysts in the United States take home approximately $48K per year on average. Most Loan Review Analysts report high levels of job satisfaction. Female Loan Review Analysts survey participants are more prevalent than men — 64 percent of professionals. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
Job Description for Loan Review Analyst
A loan review analyst will look over applications for loans to make sure that customers meet loan requirements. The loan review analyst may be present in any industry that loans money to customers. These loans may be mortgages, automotive loans, personal loans, and/or business loans.Read More...
It is important to be able to justify decision-making. The analyst will look over things, such as credit ratings, current loans, leases, credit problems, and job stability. Financial documents within the process will also be audited for accuracy by the analyst. Sometimes, the analyst may need more information and will put in requests for follow-up information to be provided by the client. In the case of business loans, it may also be important to determine the viability of the particular business. The analyst may also provide suggestions as to how the customer can qualify for a loan, if the current application needs to be denied.
Much of the work is done independently, so it is important to be self-driven and to be able to meet deadlines. However, there may also be a team of loan review analysts, so teamwork skills will come in handy, in order to coordinate work. Typically, a bachelor’s degree in finance, accounting, or business is required for this job.
Loan Review Analyst Tasks
- Assess credit risk.
- Aggregate and evaluate data related to credit and credit risk to support organizational decision-making.
- Ensure that approved accounts remain in good standing.
- Establish terms for approved credit requests.
Credit Analyst Job Listings
Search for more jobs:
Pay by Experience Level for Loan Review Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Loan Review Analysts with a rich background of experience are typically rewarded with larger paychecks. Folks with fewer than five years of experience take home $41K on average, and those who have worked for five to 10 years see a bigger median salary of $51K. After working for 10 to 20 years, Loan Review Analysts make a median salary of $56K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $85K.
Related Job Salaries
Key Stats for Loan Review Analyst
Rated 4 out of 5
based on 12 votes.