Many loan review and credit risk review departments at financial services companies know their loan review process has inefficiencies. But professionals within those programs are too focused on their day-to-day work to adjust and fully understand the impact of those efficiency issues. Loan review directors and analysts know the scope of this problem all too well – they’re the ones stuck reviewing loans while they deal with a mountain of manual reporting work and administrative tasks.
However, chief risk officers (CROs) and other decision-makers often end up removed from the day-to-day grind of a loan review department. So executive leaders don’t always understand the extent to which their best credit risk review specialists are bogged down by inefficiency – and how that inefficiency holds back the entire organization.