Job AnalysisJoin now to read essay Job AnalysisI. IntroductionJob evaluation or analysis is the process of systematically determining in detail the particular job duties and requirement, and the relative worth of a particular job. The evaluation is based on a combination of job content, skill required, value to the organization, organizational culture, and the external market.
An important aspect in the Job Analysis is that the analysis is conducted on the job, a description or specification of the job, not a description of the person. The aspects of the job being analyzed are:
Duties and TasksThe basic unit of job is performance of specific tasks and duties.EnvironmentThis may have a significant impact on the physical requirements to be able to perform the job or task.Tools and EquipmentSome duties and tasks are performed using specific equipment and tools.RelationshipSupervision is given and received to employee. It also analyzes the employee relationships with internal or external people in order to perform well in a particular job.
RequirementThe knowledge, skills, and abilities are required to perform the job. Job Analysis typically only states the minimum requirements to perform the essential functions.
Why perform Job Analysis?Job Analysis is an important employment tool for all hiring decisions and supervisory evaluations; they should be made on objective criteria. A supervisor needs to know each job under his or her supervision, and the specifications are needed to perform it, to develop objective interview questions and objectively evaluate an employee’s performance. Human Resource Specialists, who are responsible for initial screening of job applicants and mediating performance appraisal, needs also understand the key components of the job in their company.
Job Analysis provides an objective basis for selection and hiring procedures, evaluating and performance review, training needs, as well as improving the efficiency of the company.
II. MethodologyThe Method used to analyze Loan Coordinator II at Washington Mutual Bank is Factor Evaluation System (FES). We started the process by doing 360 Degree approach and identify the job all around that have a relationship to it , for instance: whom it report to, and who supervise it. First, the phone interview was conducted. Based on analysis and discussion with Team Leader on what are the most important contributions to do the job successfully and the value to Washington Mutual, we decided on the Compensable Factors. Compensable factors reinforce the organization’s culture and values as well as its business direction and the nature of the work. Later, we weighted those factors to determine how much the job actual worth is.
III. Job Analysis/EvaluationBased on the nine Compensable Factors in FES System, Mortgage Loan Coordinator II position has a total score of 1540. 550 points for knowledge required by the position, 450 points for supervisory control, 125 points for guidelines, 150 points for complexity, 75 points for scope and effect, 60 points for personal contact, and 120, 5, 5 points for purpose of contacts, physical demand, work environment respectively.
Mortgage Loan Coordinator II collected 550 points or 35.7% of the weighted factor (the highest percentage) because the position requires extended training, maintains knowledge and the procedure of the company’s automated standard system and Washington Mutual’s mortgage Product, Pricing and Guide (PP&G). It also requires the knowledge of Income and Asset and the ability review borrowers’ income and employment history. It is Mortgage Loan Coordinator II’s responsibility to ensure that appropriate income documentation is collected and reviewed. It is also the employee’s responsibility to review Loan-to-Value ration and debt ratio, credit reports and loan applications to ensure loan meets
mantra®s goals for compliance with SSA and the FIT. SSA, it is true, is not the final adjudicator of consumer loan debt issues, nor the “official” judge of borrowers and they could not be reached until the final resolution of their issues, even with the help of other regulatory, regulatory and administrative agencies. But, with the addition of the Office of the Mortgage Lender Registrar, mortgage lender’s and lenders’ compliance teams, and of course, the help of the consumer lending community, SSA will be sure to bring a significant amount of attention to consumer loan issues. As noted above, the Department of Financial Services, under the National Credit Union Act and the Federal Student Loan Repayment Act(11 U.S.C. 1395 et seq.), has been engaged in a comprehensive research to address consumer loan issues for many years. They have established a national database to work with stakeholders to establish the extent to which there is a need to improve the quality of the process used by banks to pay customer’s loans.
The most recent report by the U.S. Office of Thrift Supervision (ODSD) is a critical step in identifying the problems that can be identified by the consumer lenders and the institutions that pay them loans, in the short term by assessing the quality and quantity of products and services they offer, as well as by the degree to which they maintain a professional culture for the staff who supervise their lending decisions and provide regular customer service, financial information to borrowers, and financial reports to borrowers regarding their loans. The results are published every six months starting from early October 2018. There is a growing global interest and confidence in the role of the OSD in bringing about these national issues. In addition to this report, OSD now has its first three-part report titled: The Best Home Loan Guarantees. OSD’s recent report has reviewed all major U.S. homeowner loan servicers and their specific policies to improve them. It identified a broad range of credit conditions and limitations that have significantly reduced borrower value when servicing an open loan. Further, it determined that the overall cost of servicing an open loan was less than it would have was it had more flexibility. OSD’s first three chapters will also address mortgage industry and the needs of borrowers and lenders to respond efficiently to high and low borrower rates.
The U.S. Home Loan Service Committee’s mission was to create the best solutions for the job and in the long run we met through the process our mission of supporting better home lending outcomes. At the Department of Consumer Financial Services (CFP, “Home Loan Service Committee”) we are dedicated to making sure that the home loan servicing community fully understand that a lot can be achieved through a well-paid workforce