Find out the top 10 core skills you need to master as a credit processor and what hard skills you need to know to succeed in this job.
A credit processor has the primary task of ensuring that all loan applicants get their loans on a timely basis to protect the company's credibility and inform them in the case of any loan issues such as late payments and bankruptcies. He or she will ensure that all borrowers attain the requirements for borrowing loans and credit.
Other duties that he or she will perform are; determining applicant's eligibility and suitability for applying for the loans; keep clients up to date with all the loan process, rules and obligations; access credit scores for all loan applicants; identifying customers? needs and seeing to it that their needs are meet as well as to ensure that all loan documents are up to date and maintained properly for easy referencing.
Core Skills Required to be a Credit Processor
Core skills describe a set of non-technical abilities, knowledge, and understanding that form the basis for successful participation in the workplace. Core skills enable employees to efficiently and professionally navigate the world of work and interact with others, as well as adapt and think critically to solve problems.
Core skills are often tagged onto job descriptions to find or attract employees with specific essential core values that enable the company to remain competitive, build relationships, and improve productivity.
A credit processor should master the following 10 core skills to fulfill her job properly.
Written Communication involves the interaction that makes use of the written word with precision and logic making it the very common form of business communication.
A Credit Processor must necessarily learn and stay updated on effective written communication skills that involve the construction of a logical argument, note taking, editing and summarizing as well as incorporating new ways of writing presentations.
Negotiation Skills are a deliberative process by which people settle their differences through an acceptable agreement to both parties to co-exist without argument and dispute in the workplace.
A Credit Processor must learn to resolve any disputes that arise in the workplace using the principles of fairness, seeking mutual benefit and maintaining a cordial relationship that builds a success at the workplace.
Knowledge of Company Processes:
Knowledge of Company Processes is the in-depth understanding of a collection of related, structured activities that serve a particular goal for a group of customers or clients who are valuable to the enterprise.
A Credit Processor ought to maintain consistency across the daily processed while keeping a keen eye on the overall plan of the organization by ensuring the company processes are performed and followed.
Orientation to Work:
Orientation to Work is the introduction that is given to a new worker whereby he is introduced to coworkers and given relevant information like schedules, performance standards, benefits and facilities, names of the supervisors, etc.
A Credit Processor must ensure that all new employees go through an orientation process to assimilate into the workplace and become familiar with what is expected of them.
Handling Stress is the skill to balance the requirements of the job and your abilities or available resources in performing it.
A Credit Processor needs to creatively learn how to schedule work according to the abilities of different individuals to ensure a balance that will not put an unsustainable level of pressure on the employees and cause them to accumulate work related stress.
Results Orientation is knowing and focusing on outstanding results and working hard to achieve them because they are significant.
A Credit Processor must understand and make it clear to the employees how important results are and the competitive and results driven market that the company is facing while encouraging them to remain focused on the results that every project bears without fail.
Self-Discipline and Sense of Duty:
Self-Discipline and Sense of Duty is an active effort which helps in developing set ways for your thoughts, actions, and habits empowering your to stick to your decisions.
A Credit Processor needs to learn the secret of fostering the development of self-discipline amongst the employees by clearly defining the expectations, staying in sync with the work related events and propagate result yielding ideas that employees suggest.
Diversity Awareness is the understanding that people are different and unique in their particular way and respecting their uniqueness.
A Credit Processor ought to successfully identify the various types of diversity presented in his company to be able to benefit from these individual differences in the hope of improving the success of his team and encourage the team members to become aware of these qualities and use them appropriately.
Training is the ability to expand the knowledge base by learning new truths that are useful in the workplace.
A Credit Processor needs to creatively schedule training for his employees in a focused manner that will allow the employee stay useful in the workplace and get new knowledge so that both the business and the worker not suffer from delays and work related stress.
Technical Skills are the abilities and knowledge mostly related to mechanical, IT, scientific and mathematical needed to perform specific tasks in the workplace.
A Credit Processor ought to hire employees with particular talents and expertise that helps them perform certain duties and jobs that other skills like soft skills cannot perform to grow both the business and the employee and bring in productivity.
Hard Skills Required to be a Credit Processor
Hard skills are job-specific skill sets, or expertise, that are teachable and whose presence can be tested through exams. While core skills are more difficult to quantify and less tangible, hard skills are quantifiable and more defined.
Hard skills are usually listed on an applicant's resume to help recruiters know the applicant's qualifications for the applied position. A recruiter, therefore, needs to review the applicant's resume and education to find out if he/she has the knowledge necessary to get the job done.
A credit processor should have a good command of the following hard skills to succeed in her job.