Finance Agent

Aliases: Finance Advisor, Loan Officer, Loan Agent

Industry/Sector(s): BFSI

JOB DESCRIPTION ¹

The tasks a Finance Agent is expected to perform include:

Arranging loan for clients from financiers on security of real estate, property, etc.
Co-ordinating with clients and obtaining details like loan amount, rate of interest willing to pay, loan period and security offered
Scrutinising and identifying the financer as per the clients needs
Helping the concerned parties in drawing and finalizing the terms of the contract
Negotiating between concerned parties and helping them to make an agreement

WORK ENVIRONMENT ^{3, 5, 2}

It requires physical activity
May require supervising Officers
Travelling is a part of this job role
Part-time and contractual jobs are available
Work from home option may be available

Working hours

Organizations usually work for 5/6 days a week and 9 hours everyday. This may vary organization to organization
Shift system may be required
Being self-employed is also an option. In this case, the working hours and days will be flexible

Is the job suitable for a candidate with special needs?

This job is suitable for candidates with One Arm (OA), One Leg (OL), Both Leg (BL), Blind (B), Low Vision (LV) and those who have their Hearing Impaired (HH)

This may vary from organization to organization

EDUCATIONAL QUALIFICATIONS AND TRAINING ⁵

Preferably, graduation in any specialization

KEY COMPETENCIES ¹

Proficient in identifying customer needs and recommending appropriate loan proposal
Knowledge of new types of loans and other financial services and products available in order to meet customer needs
Adept at handling client queries
Knowledge of all the loan formalities to be undertaken
Proficient in reviewing credit report and loan files
Well-versed in conducting background verification of customers
Proficient in handling legal aspects like drafting agreement, filing petition to transfer titles of collaterals in case of default, etc.
Knowledge of financial service industry
Proficient in negotiating payment arrangement with the customer who have overdue payments

DESIRABLE COMPETENCIES ¹

Knowledge of real estate and unsecured loan products
Effective communication skills
Detail-oriented
Relationship building skills
Time management skills

AVAILABLE SKILL TRAINING AND LEARNING INSTITUTES

Indian Institute of Banking and Finance (IIBF)
http://www.iibf.org.in/
Institute of Finance, Banking and Insurance (IFBI)
http://www.ifbi.com/
Indian Institute of Bank Management (IIBM)
http://www.iibm.ac.in/

AVAILABLE SKILL TRAINING SCHEMES/SCHOLARSHIPS

SAMPLE OF TRAINING AND LEARNING COURSES

CAREER PROGRESSION PATH ¹

National Head

↑

Zonal Head

↑

Regional Head

↑

Finance Manager

↑

Finance Agent

↑

Officer
The progression is indicative

EXPECTED EARNINGS ⁴

For new entrants – Rs 10,000 to Rs 15,000 per month
For candidates with experience - Rs 15,000 to Rs 35,000 per month

These figures are indicative and subject to change

REQUIRED WORK EXPERIENCE ³

Generally, 0 - 1 year of experience required

PROBABLE EMPLOYERS ^{5, 3}

Self-employed
All banks, NBFCs and other financial service companies across India

KEYWORDS

Finance Advisor
Loan Officer
Loan Agent

OCCUPATIONAL CODES AND STANDARDS

Standard	Code	Description
NCO 2015	3312.0100	Finance Agent
ISCO 2008	3312	Credit and Loan Officers
NIC 2008	66190	Activities auxiliary to financial service activities n.e.c.
QP Reference	Not available	Not available
NSQF	Not available	Not available

REFERENCES

1	National Classification of Occupations Division 3
2	http://www.payscale.com/research/IN/Job=Loan_Officer/Salary

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