What does a Processor do?
Processors work in banking in the finance industry and prepare loan files and submit them to banks or mortgage lenders for approval and processing. They are responsible for the interview, research, and assessment of prospective loan applicants during their loan application process, and they assist eligible applicants to obtain loans in a professional and timely manner.
Processors collect and verify the necessary and required financial documents and evaluate the information they have obtained to determine both the applicant’s need for a loan and their ability to repay it. They assess the credit standing of each applicant using background research and interviews to evaluate loan eligibility and create, renew, and retain applicant records. As the point person between the applicant and lender, a processor will ensure that all documents are appropriate and that signatures are correct and in order before further submitting forms. Processors need a bachelor's degree in accounting, finance, or related fields.
- Perform QC over own work and work of peers.
- The employee must occasionally lift and/or move up to 10 pounds.
- Comply with and stay abreast of all policies and procedures, federal and state laws applicable to the job.
- Ensure complete and accurate packages are submitted for approval.
- Unload materials in preparation for processing and reload materials upon completion.
- Position will have direct contact with internal and external customers.
- Will backup other positions and perform other duties as required.
- Responsible for attending on-site work during scheduled shifts to adhere to company time and attendance policies.
- Develop a monitor and performance system to ensure compliance to specifications and QA program by markets.
- Partner with and provide proper information to sales/marketing departments.
- All Employees agree to comply with a strict adherence to Company and OSHA safety requirements, Standard Operating Procedures (SOP's), Good Manufacturing Practices (GMP) Compliance, and Food and Drug Administration (FDA) regulatory standards.
- Assist in ensuring maintenance and integrity of development database.
- Manage relationship with suppliers through the market counterparts.
- Responsible to stock and shelve inventory for future orders.
- Receive parts from shipments, separate, pack and stock parts to shelves, input parts data into parts control system, process parts order, order picking, order packaging etc.
- Bachelor's Degree in accounting, business, computer science, information technology or software engineering, or equivalent experience.
- A natural critical thinker, decision maker, and problem solver.
- Demonstrated attention to detail and continuous improvement.
- Comfortable leading confidently and striving for continuous improvement.
- Fluent in pipelines, computing, spreadsheets, and liabilities.
- Experience with process mining.
How much does a Processor make near United States?
Base Pay
Additional Pay
$39,077
/ yrProcessor Career Path
Learn how to become a Processor, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Processor Insights
Mortgage Specialists International“All the lower level people are decent and really take advantage of the free water you get.”
Brink's, Incorporated“Good insurance but can not use because they don't work with your for Dr. appointments.”
Duluth Trading Company“The people you work with are the best reason to continue to work at DTC.”
“There isn't really an opportunity for career as I am a temporary worker brought for the 2022 General Election.”
Brink's, Incorporated“High turnover rate because of the work overload and minimal amount of staff because people would quit within the first week of employment.”
“Good management and pleasant to work with”
Champion Title & Settlements“Everyone I worked with while there was nice and helpful.”
Corsair“No pay increases no matter how many peoples jobs you are forced to do (unless you are your supervisors favorite).”
Frequently asked questions about the roles and responsibilities of a Processor
When working as a Processor, the most common skills you will need to perform your job and for career success are Critical Thinking, Excellent Customer Service, Schedules, Positive Attitude, and Excellent Communication.
- Payroll Specialist
- Payroll Manager
- Payroll Analyst
- HRis Analyst
The most common qualifications to become a Processor include a minimum of a Bachelor's Degree and an average of 0 - 1 years of experience not including years spent in education and/or training.