dcsimg



Schools in the USA
Back to Career Search     

Accounts Officer


Description

Many individuals come to a point in their lives when in order to purchase an expensive item, such as a house or pay university tuition fees, they need to apply for some form of credit or a loan. The same applies to businesses that are about to launch and need extra funding. This is where an accounts officer is needed.

Accounts officers understand and analyze financial information about loan applications and business account conditions, and approve or reject credit applications. They develop credit structuring alternatives for large account transactions and assist credit officers in the management of these accounts. Accounts officers must ensure that those who want to borrow money are a safe financial risk to the organization. If a potential borrower is deemed unsuitable or unable to pay back a loan in due time by the credit officer, they will be rejected.

So how does an accounts officer determine the creditworthiness of a business applying for credit or a loan? They must spend their days obtaining information from banks, credit institutions, and employers, going over a company's credit history, seeing if they have paid back loans in the past. Accounts officers will interview applicants for business loans going over all these financial questions. After gathering and synthesizing all applicable financial information, they make a final decision regarding the loan. Once and if the loan is approved, the accounts officer must follow the client's financial status in order to protect the bank's best interest.

Accounts officers are also in charge of selling bank services and products, like retirement savings plans, securities and corporate credit cards. Those who work in small branches sometimes supervise banking procedures directly and process loan applications. However, the job has changed in recent years to focus more on the sale of financial products and services, such as investment funds. In larger branches, some officers may deal with personal accounts while other work in the commercial sector. Therefore, some may promote credit cards, collect outstanding debts, while others might work with higher level accounts.

Accounts officers must keep up to date with legislation and new governmental changes that affect the financial industry. Some accounts officers specialize in a specific commercial sector such as real estate, forestry, agriculture and finance. These days, it is helpful to have an accounts officer that has knowledge in a specialized area so that when it comes to assessing loan applications, they will have better judgment due to their knowledge of the industry. Also, this potentially lessens the risk of numerous unpaid loans for a financial institution.
 
View Schools for this Career: 
         Related Careers
arrow Accounting Clerk
arrow Actuary
arrow Administrative Assistant
arrow [ view all related careers ]



Program Spotlight
Matching School Ad
Liberty University

100% Online & No Standardized Testing

Programs Offered:
  • MS: Finance: Financial Management
  • MS: Finance: General
  • DBA: Finance
  • And more...

 




Sources:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, http://www.bls.gov/ooh/
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Employment Statistics, 2002, http://www.bls.gov/oes/2002/oes_nat.htm

Featured Schools

Matching School Ads
Liberty University

100% Online & No Standardized Testing

Programs Offered:
  • MS: Finance: Financial Management
  • MS: Finance: General
  • DBA: Finance
  • And more...

 
Bryant & Stratton College

There are a lot of reasons Bryant & Stratton College is the place to get an education.

Programs Offered:
  • AAS Financial Support Services
  • AAS Accounting
  • AAS Business

 
Northcentral University
  • Northcentral University was founded in 1996 to provide working professionals around the world with unprecedented access to richly engaging, professionally relevant, and academically-rigorous education from a U.S. university.
Programs Offered:
  • Financial Management - PhD in Bus. Admin.
  • Financial Management - D.B.A.
  • Advanced Accounting - PhD in Bus. Admin.
  • And more...

 
Berkeley College

The Berkeley Advantage®is part of a proven approach to career-focused education that can help students prepare for success.

Programs Offered:
  • AAS, Financial Services
  • BBA, Financial Services
  • BBA, Accounting
  • And more...

 
Georgetown University

About Georgetown University
Georgetown University is a private, not-for-profit, accredited university located in Washington, DC. Founded in 1789 by John Carroll, Georgetown is America's oldest Catholic and Jesuit University. Today, Georgetown is a major international research university. It has nine schools, an affiliated hospital and many highly-ranked graduate programs.Georgetown University Online

Programs Offered:
  • Master of Science in Finance

 
Davenport University

Since 1866, Davenport University has been providing students with real-world experience, giving them the edge they need to get the career they want.

 

 

                                    

             

Programs Offered:
  • Finance, BBA
  • Accounting, BBA
  • Master of Accountancy, MAcc
  • And more...

 
Rasmussen College

Further your education and strengthen your skill set at Rasmussen College

Programs Offered:
  • Finance Bachelor¬ís Degree-Completion Program
  • Business Management Bachelor¬ís Degree-Completion Program
  • Accounting Associate's Degree

 
Southern New Hampshire University

At SNHU, we believe everyone should have greater access to higher education. 

Programs Offered:
  • MS Finance
  • BS Finance
  • BS Business Administration w/ Concentration in Finance
  • And more...

 
American InterContinental University Online

You’re serious about success. With your busy schedule and the desire to move your career forward, you can earn an accredited associate, bachelors or master’s degree at a pace that works for you anywhere, anytime, 24/7.

At AIU, the Serious U, you can get started to get ahead.

Programs Offered:
  • MBA - Finance
  • Bachelor's (BBA) - Finance
  • Bachelor of Accounting
  • And more...

 
LeTourneau University - Online
Founded in 1946 by Mr. R.G. LeTourneau, LeTourneau University is private, nondenominational Christian university offering a wide array of undergraduate and graduate degree programs in the College of Engineering, Business and Technology; the College of Aviation & Aeronautical Science; the College of College of Education, Arts and Sciences; and the College of Health Sciences & Professional Studies.
Programs Offered:
  • Bachelor of Business Administration - Finance Concentration
  • Master of Business Administration with a Finance Specialization
  • Master of Business Administration with an Oil and Gas Specialization
  • And more...

 
Matching School Ads
  Universities and Colleges
Clarkson UniversityColorado School of MinesDalhousie University
Oral Roberts UniversityPenn State HarrisburgTemple University
The University of HoustonThompson Rivers UniversityUNB Saint John
University of AlabamaUniversity of ArkansasUniversity of British Columbia
University of IowaUniversity of New BrunswickUniversity of Ottawa
York University
Agriculture and Bio-resources | Allied Health and Health Sciences | Applied Business Technology | Architecture
Business Administration | Computer Science | Cosmetology and Esthetics | Culinary, Travel &Hospitality | Dance 
Engineering Technology & Applied Technology |Engineering | Film | Fine Arts and Design | Humanities and Liberal ArtsJustice and Security
Music
| Natural and Applied Sciences | Naturopathic and Holistic MedicineNursingPublic Administration & PolicyReligious and Theological Studies
Sport Sciences and Physical Education | Teacher Education | Theatre
Articles | College News | Videos | Feedback | Career Search
Home | About Us | Contact Us | Faq | Terms of Use | Privacy Policy | Site Map | Cities Site Map

Copyright 2003- 2018 QuinStreet, Inc. All Rights Reserved.