How A Car Is A Credit Decision Maker Essay

700 Words Oct 6th, 2015 3 Pages
How to train a person to become a credit decision maker

Credit 101
Our application volume has been building all year. Now our auto-scoring system is referring a record number of “gray area” applications for manual review. Our team can’t keep up with the workload but competition is fierce and we need to improve our turnaround times….so we look to hire another underwriter.
We want an analyst who can get up to speed quickly but there’s only room in the budget for a beginner. We’re not a large entity with an infrastructure of resources available to us. How do we sort through the hundreds of applications? What do we look for?
Every entity has their own way of doing this and automated tools are helping to speed up this process. What has worked for me – in addition to applying the standard hiring criteria − is to concentrate on these five intangibles: 1. Curiosity. Beyond the bachelor’s-degree-in-business graduate with a 3.5 GPA, curiosity is a very valuable trait. Credit analysis is part forensics detective work, especially as we move up in exposure levels. The ability to see something irregular − something that may not make sense − is very important. Some of this comes with experience but a fundamental inclination to be curious and challenge assumptions gives the analyst a head start. During the interview, give candidates some simple yet revealing credit decisions to make. See if they catch the irregularities.

2. Organization. During the interview consider giving the…

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