What does a Transaction Processing Officer do?

Commercial loan officers work for credit unions, commercial banks, mortgage companies, and other financial institutions and are the decision-makers who apply critical thinking skills during application review. They examine loan applications and verify all financial information applicants provide to determine whether they can meet their monthly loan payments on time. They recommend approval or disapproval of the loan application based on the applicant’s information and relevant information they uncover during the application process.

Because they are supervisors, commercial loan officers also manage loan administrators and double-check their paperwork for approval or disapproval of a requested loan. Upon acceptance and disbursement of money, loan officers ensure repayments arrive in a timely fashion, which may require follow-up phone calls and outreach to borrowers to ensure they are paying off their line of credit. When payments have defaulted regularly, a loan officer may report the borrower to a collection agent. Commercial loan officers need a bachelor's degree in finance and receive on-the-job training from their employer.

Education--
Work/Life Balance
3.5 ★
Salary Range--
Career Opportunity
3.5 ★
Avg. Experience5-7 years

Transaction Processing Officer Salaries

Average Base Pay

$73,750 /yr
Same as national average
Not including cash compensation
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Not enough salaries reported to show distribution
$43K
Median: $74K
$128K
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Glassdoor Estimated Salary

Transaction Processing Officer Career Path

Learn how to become a Transaction Processing Officer, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

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Transaction Processing Officer Insights

Read what Transaction Processing Officer professionals have to say about their job experiences and view top companies for this career.
HSBCHSBC
Commercial Banking Officer
Nov 1, 2021

“I got a chance to work with other amazing officers and everyone is generally really nice”

United Coconut Planters BankUnited Coconut Planters Bank
Commercial Loans Operations Specialist
Jan 31, 2021

“Team worked well and my career experience with UCPB helps me boost my current role with the International Bank.”

UK Ministry of DefenceUK Ministry of Defence
Commercial Officer
Jul 22, 2019

“Good life work balance is good”

Skye BankSkye Bank
Banking Officer
May 13, 2021

“laid back and good pay”

Commercial Bank of Ethiopia
Branch Banking Officer
Oct 31, 2021

“Good but getting promotion is rare.”

Access Bank PLCAccess Bank PLC
Commercial Banking Officer
Jun 13, 2021

“1. Great opportunities for growth and personal development”

The Muthoot Pappachan GroupThe Muthoot Pappachan Group
Loan Processing Officer
Aug 28, 2020

“Good for first career beginners”

Union Bank of NigeriaUnion Bank of Nigeria
Banking Officer
Mar 2, 2021

“Good background to start your career with plenty of trainings for staff”

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Transaction Processing Officer Interviews

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Transaction Processing Officer Jobs