CompGeo Salary Survey Benchmark Job Summary and Competencies

Loan Counselors

The Benchmark Job Description below represents the specific Position Characteristics of the job used in the Salary Survey. Benchmark Job Descriptions should be inspected carefully to review the degree of matching between an organizations' Job and the Salary Survey Benchmark. Matching internal Jobs to Salary Survey Benchmark Jobs should not be done on Job Title alone. A thorough comparison of Salary Survey Benchmark to Internal Job Descriptions is recommended. A good overlap should exist on any comparisons used on critical Job Dimensions and Competencies.
CompGeo Occupation Group: Finance
Job Family: Loan and Credit
Benchmark Title: Loan Counselors
Summary Job Description Tasks
Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management plans, advise on credit issues, or provide budget, mortgage, and bankruptcy counseling. Advise clients or respond to inquiries about financial matters in person or via phone, email, Web site, or Internet chat.
Assess clients' overall financial situation by reviewing income, assets, debts, expenses, credit reports, or other financial information.
Calculate clients' available monthly income to meet debt obligations.
Create debt management plans, spending plans, or budgets to assist clients to meet financial goals.
Estimate time for debt repayment given amount of debt, interest rates, and available funds.
Explain services or policies to clients, such as debt management program rules, the advantages and disadvantages of using services, or creditor concession policies.
Interview clients by telephone or in person to gather financial information.
Maintain or update records of client account activity, including financial transactions, counseling session notes, correspondence, document images, or client inquiries.
Negotiate with creditors on behalf of clients to arrange for payment adjustments, interest rate reductions, time extensions, or to set up payment plans.
Prepare written documents to establish contracts with or communicate financial recommendations to clients.
Prioritize client debt repayment to avoid dire consequences, such as bankruptcy or foreclosure or to reduce overall costs, such as by paying high-interest or short-term loans first.
Recommend educational materials or resources to clients on matters such as financial planning, budgeting, or credit.
Recommend strategies for clients to meet their financial goals, such as borrowing money through loans or loan programs, declaring bankruptcy, making budget adjustments, or enrolling in debt management plans.
Refer clients to social service or community resources for needs beyond those of credit or debt counseling.
Review changes to financial, family, or employment situations to determine whether changes to existing debt management plans, spending plans, or budgets are needed.
Advise clients on housing matters, such as housing rental, homeownership, mortgage delinquency, or foreclosure prevention.
Conduct research to help clients avoid repossessions or foreclosures or remove levies or wage garnishments.
Create action plans to assist clients in obtaining permanent housing via rent or mortgage programs.
Disburse funds from client accounts to creditors.
Explain general financial topics to clients, such as credit report ratings, bankruptcy laws, consumer protection laws, wage attachments, or collection actions.
Explain loan information to clients, such as available loan types, eligibility requirements, or loan restrictions.
Investigate missing checks, payment histories, held funds, returned checks, or other related issues to resolve client or creditor problems.
Teach courses or seminars on topics such as budgeting, managing personal finances, or financial literacy.
CompGeo Occupation Group: Finance
Job Family: Loan and Credit
Benchmark Title: Loan Counselors
Tools/Technology Example Product Category
Data entry software Data base user interface and query software
Datatel Colleague (financial aid application) Enterprise resource planning ERP software
EDExpress Data base user interface and query software
ELM Resources ELM Data base user interface and query software
EMT Applications CounselorMax Data base user interface and query software
Financial aid management system FAM software Data base user interface and query software
Microsoft Access Data base user interface and query software
Microsoft Excel Spreadsheet software
Microsoft Internet Explorer Internet browser software
Microsoft Office software Office suite software
Microsoft Outlook Electronic mail software
Microsoft PowerPoint Presentation software
Microsoft Word Word processing software
Student information systems SIS Data base user interface and query software
SunGard Higher Education Banner Financial Aid Data base user interface and query software
Sungard Higher Education PowerFAIDS Data base user interface and query software
Web browser software Internet browser software
10-key calculators Calculators or accessories
Autodialers Autodialers
Desktop computers Desktop computers
Notebook computers Notebook computers
Personal computers Personal computers
CompGeo Occupation Group: Finance
Job Family: Loan and Credit
Benchmark Title: Loan Counselors
Alternate Job Title(s)
Commercial Lending Vice President
Consumer Credit Counselor
Credit Counselor
Debt Management Counselor
Farm Mortgage Agent
Finance Manager
Financial Aid Administrator
Financial Aid Advisor
Financial Aid Coordinator
Financial Aid Counselor
Financial Aid Director
Financial Aid Officer
Financial Assistance Advisor
Lending Services Manager
Loan Consultant
Loan Counselor
Loan Officer
Pell Coordinator
CompGeo Occupation Group: Finance
Job Family: Loan and Credit
Benchmark Title: Loan Counselors
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