Loan Operations Manager with Mortgage Loans Skills Salary

Job Description for Loan Operations Manager

Loan operations managers work primarily for financial institutions, such as banks, credit unions, and mortgage lending companies, to manage loan operations and consumer and/or business loan support staff. They must ensure that document preparation and loan processing are completed in a timely manner, and they may also oversee post-closing and customer service and train staff within a department.

Loan operations managers design and administer procedures and systems and ensure that they comply with their companies' policies and procedures. They must ensure that loan processing is completed in accordance with federal, state, and local laws and regulations, and they may help establish budgets for their departments and are involved in hiring and training staff with the human resources (HR) department. They also perform performance appraisals in accordance with their companies' policies, procedures, and guidelines and provide timely feedback.

A bachelor's degree in accounting, finance, business administration, or a related field and prior experience are generally required for this position, and some employers may prefer those who have a master's degree. Strong communication and leadership skills are also important in this position, and they should have computer skills and proficiency in Microsoft Office programs. Some may be required to attend additional courses and seminars and read relevant business journals to stay up-to-date with industry trends and regulations. (Copyright 2019 PayScale.com)

• Develop and implement strategies to improve loan department efficiency and meet sales targets.
• Supervise lenders processing loan applications, manage work flow, and ensure compliance with regulations.
• Generate new business through sales outreach.
• Hire, train, evaluate, and discipline lending staff.

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