Roles and responsibilities of a loan manager

 

ROLES & RESPONSIBILITIES OF A LOAN MANAGER

·         Prospecting with suspect leads. A suspect is a person who has still not decided on taking a loan.

·         Converting a suspect to a prospect. This involves the following:

o    Establishing contact with the prospect, this could involve several calls and may need a call at a time beyond office hours. 

o    This will also involve making calls at different times in order to achieve success.

o    Need Analysis

o    Eligibility Profiling

o    Setting up an appointment

o    Follow up with the prospect post every meeting with the sales officer until conclusion

·         Basis feedback from the prospect, seek interventions from the senior sales resource or by your own-self in satisfying customer needs with the objective of converting the prospect to a customer

·         Responsible for conversion of suspects to prospects to customers

·         Provide support to the sales team in increasing conversions by:

o    Prompt calling to all suspects / prospects

o    Timely follow up with all prospects

o    Cordial relationships with the sales officer mapped, collaborating with the sales officer in providing feedback, seeking feedback from him on your performance

·         Responsible for complete knowledge of company products and policies as well as those of competition 

·         Responsible for quality of the conversation, which entails the following:

o    Accuracy

o    Product Knowledge

o    Appraisal Skills 

o    Punctuality & TOS

o    TAT commitments

·         Ability to handle objections 

·         Updating the software. You must capture your conversation with the customer effectively such that a third person is able to carry on the conversation with the customer where you left off.

·         Generating References: The quality of your conversation and your ability to connect with the customer is also reflected in the number of references that you generate. 

·         Providing market feedback to the supervisor:

o    It is important to share with your supervisor any trends that you come across whilst speaking to a prospect. Examples could be objections from prospects regards the processing fee being charged by us vis-à-vis the same being charged by a specific competitor. 

 

 

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