How to Become a Loan Review Manager

Step 1: Understand the job description and responsibilities of a Loan Review Manager

What does a Loan Review Manager do?

A Loan Review Manager directs and manages a team of loan review associates to ensure loans are in compliance with bank lending policies and risk guidelines. Provides guidance and input on highly complex, high value reviews. Being a Loan Review Manager may require a bachelor's degree. Typically reports to top management. The Loan Review Manager typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. To be a Loan Review Manager typically requires 3+ years of managerial experience.

People's Opinions on Loan Review Manager responsibilities

Commercial loans are difficult to oversee, but not because of the complication of paperwork or the contract itself.

01/21/2020: Waterloo, IA

This is one of the main reasons why loan review managers are hired, independently of loan office managers and loan review officers.

12/03/2019: Rochester, NY

The manager assumes more responsibility, whereas officers are limited in what they can do.

12/31/2019: Indianapolis, IN

The manager actually oversees a staff and ensures that bank’s loans are in complete cooperation with local standards.

12/02/2019: Jacksonville, FL

Officers can only report straightforward loans, but review managers have been trained to report the most complex loan situations, as well as high-dollar amount loans.

12/26/2019: Lafayette, LA
Read all People's Opinions Submit your opinion

Step 2: Learn best tips to become a Loan Review Manager

Best tips for those who want to become a Loan Review Manager

Here are some tips to become a Loan Review Manager.

People's Opinions on best tips

Tone from the TopThe board and CEO are responsible for clear decisions, investments, and management actions that emphasize and respect the need for loan review to provide effective challenges.

12/18/2019: Champaign, IL

IndependenceThe organizational structure must demonstrate loan review’s independence from the credit function.

01/13/2020: Scranton, PA

Skill parityA loan review exam can be compared to asymmetrical warfare.

01/19/2020: Greensboro, NC

GovernanceLoan review managers should attend critical governance committee meetings as ex officio members and be assigned to “own” discrete portfolios within the bank, monitoring their performance with business-unit-generated reports and loan review metrics.

12/14/2019: Monroe, LA

External focusBanking is highly cyclical, and lending patterns and standards move with a high degree of correlation.

01/24/2020: Portland, ME
Read all People's Opinions Submit your opinion

Step 3: View best colleges and universities for Loan Review Manager

Best colleges and universities for Loan Review Manager

  • Florida Southern College
  • Colby College
  • Dartmouth College
  • University of Notre Dame
  • Western Washington University
  • Canisius College

Step 4: Think about whether is it worth to be a Loan Review Manager

Is being a Loan Review Manager Worth it?

People's Opinions on lifestyles

Lead coordination of department preparation for periodic audits and loan review as required.

02/29/2020: New Brunswick, NJ

Demonstrated understanding of consumer credit including loan to value, debt to income and….

12/27/2019: Columbus, OH

Contribute to the preparation of Loan Review, Senior Management, and Board level reporting.

01/19/2020: Santa Ana, CA

Review and identify areas of improvement within the After Sales Program; including machine pick-ups, loan machines, shipping boxes, spare parts, exchanges.

12/14/2019: Fresno, CA

Application Conversion (Review Pipeline Reports) – Review Outstanding Applications weekly.

02/19/2020: Santa Barbara, CA
Read all People's Opinions Submit your opinion

Step 5: Prepare relevant skills for being a Loan Review Manager

What skills do you need to be a Loan Review Manager?

Due to the management level associted with this job, many skills are required to being successful and ensuring the success of your team.  It is necessary to be able to excel with: Internal Controls, Risk Assessment, Risk Analysis, Lending Regulatory Compliance, Portfolio Stress Test, Loan Review.  For management positions, some skills may come as a no brainer, for this role those would be: Loan Software.  As you can tell, it is no easy feat to be a manager, and the skills required reflect that.

People's Opinions on Loan Review Manager skills

Ability to prepare, review and make determinations on acceptability of loan closing documents.

12/03/2019: Nashville, TN

\* Experience with business law basics and loan documentation.

12/06/2019: Racine, WI

Lead coordination of department preparation for periodic audits and loan review as required.

02/23/2020: Evansville, IN

2-5 years prior experience in a loan operations or loan closing environment.

12/16/2019: Abilene, TX

Work closely with lenders and have strong influence in securing loan approvals.

01/26/2020: Fort Myers, FL
Read all People's Opinions Submit your opinion

Step 6: View average salary for Loan Review Manager

How much does a Loan Review Manager make?

The average salary range for a Loan Review Manager is from $100,640 to $136,679. The salary will change depending on your location, job level, experience, education, and skills.

Salary range for a Loan Review Manager
$100,640 to $136,679

Step 7: Find relevant Loan Review Manager jobs, and apply.

Looking for Loan Review Manager jobs?

Here are some Loan Review Manager jobs in the United States.

Search Loan Review Manager Jobs in the United States

Step 8: Explore Career Path of Loan Review Manager