safety and health laws and regulations. They also investigate accidents and disasters, and may help direct rescue and fire fighting operations when fires or explosions occur. MSHA's Inspectors work to identify the causes of accidents to determine how they might be prevented in the future, and they investigate complaints to determine whether laws and regulations have been violated. Inspectors discuss findings directly with mine management and issue citations describing violations and hazards that must be corrected. They have the authority to close a mining operation if they encounter a work situation that presents an imminent danger to workers. They may also be called upon by mine personnel to provide technical advice and assistance.

Occupational Safety and Health Administration (OSHA) inspectors serve the Department of Labor as expert consultants on the application of safety principles, practices, and techniques in the workplace. They conduct fact-finding investigations of workplaces to determine the existence of specific safety hazards. They may be assigned to conduct safety inspections and investigations and use technical equipment and sampling and measuring devices and supplies required in the field. These inspectors attempt to prevent accidents by using their knowledge of engineering safety codes and standards, and they may order suspension of activities that pose threats to workers.

Park rangers enforce laws and regulations in State and national parks. They protect natural, cultural, and human resources, and enforce criminal laws of the United States including the apprehension of violators. Rangers also implement wilderness and backcountry management plans; monitor grazing, mining, and concessions activities; and work closely with resource management specialists and employees to identify and communicate resource threats, perform resource inventories, implement resource projects, and monitor researchers. Other rangers give natural resources talks, lead guided walks, and conduct community outreach and environmental education programs.

Securities compliance examiners implement regulations concerning securities and real estate transactions. They investigate applications for registration of securities sales and complaints of irregular securities transactions and recommend legal action when necessary.

Other inspectors and compliance officers include attendance officers, logging operations inspectors, travel accommodations raters, coroners, code inspectors, mortician investigators, and dealer-compliance representatives. (Construction and building inspectors, who perform closely related work, are discussed elsewhere in the Handbook.)

Working Conditions

Inspectors and compliance officers work with many different people and in a variety of environments. Their jobs often involve considerable field work, and some inspectors travel frequently. When traveling, they are generally furnished with an automobile or are reimbursed for travel expenses.

Inspectors may experience unpleasant, stressful, and dangerous working conditions. For example, mine safety and health inspectors are exposed to many of the same physically strenuous conditions and hazards as miners, and the work may be performed in unpleasant, stressful, and dangerous working conditions. Federal food inspectors work in highly mechanized plant environments near operating machinery with moving parts or with poultry or livestock in confined areas in extreme temperatures and on slippery floors. The duties often require working with sharp knives, moderate lifting, and walking or standing for long periods of time. Park rangers often work outdoors in rugged terrain and in very hot or bitterly cold weather for extended periods. Many inspectors work long and often irregular hours. Inspectors may find themselves in adversarial roles when the organization or individual being inspected objects to the process or its consequences.

Employment

Inspectors and compliance officers held about 176,000 jobs in 1998. State governments employed 30 percent, the Federal Government— chiefly the Departments of Defense, Labor, Treasury, and Agriculture— employed 31 percent, and local governments employed 19 percent. The remaining 20 percent were employed throughout the private sector in education, hospitals, insurance companies, and manufacturing firms.

Inspectors and compliance officers who work for the Federal Government are employed by a wide range of agencies. Some consumer safety inspectors, for example, work for the U.S. Food and Drug Administration, but the majority of these inspectors work for State governments. Most food inspectors and agricultural commodity graders are employed by the U.S. Department of Agriculture. Many health inspectors work for State and local governments. Compliance inspectors are employed primarily by the Departments of Treasury and Labor on the Federal level, as well as by State and local governments. The Department of Defense employs the most quality assurance inspectors. Aviation safety inspectors work for the Federal Aviation Administration. The Environmental Protection Agency employs inspectors to verify compliance with pollution control and other laws. The U.S. Department of Labor and many State governments employ safety and health inspectors, equal opportunity officers, and mine safety and health inspectors. The U.S. Department of Interior employs park rangers.

Training, Other Qualifications, and Advancement Because of the diversity of the functions they perform, qualifications for inspector and compliance officer jobs vary widely. Requirements include a combination of education, experience, and passing scores on written examinations. Many employers, including the Federal Government, require college degrees for some positions. Experience in the area being investigated is also a prerequisite for many positions. Although not exhaustive, the following examples illustrate the range of qualifications for various inspector jobs.

Air carrier avionics inspector positions must possess aircraft electronics work experience involving the maintenance and repair of avionics systems in large aircraft, aircraft avionics experience in a repair station, air carrier repair facility, or military repair facility; 3 years of supervisory experience in aircraft avionics as a lead mechanic or repairer who supervises others; and aircraft avionics work experience within the last 3 years.

Air carrier maintenance inspectors must possess an FAA mechanic certificate with airframe and power plant ratings; aviation maintenance work experience involving the maintenance and repair of airframes, power plants, and systems of large aircraft under an airworthiness maintenance and inspection program; aircraft maintenance experience in a repair station, air carrier repair facility, or military repair facility; 3 years of supervisory experience in aviation maintenance as a lead mechanic or repairer who supervises others; and some aviation maintenance work experience within the last 3 years.

Air carrier operations inspectors must possess an airline transport pilot certificate or commercial pilot certificate with instrument airplane rating; pilot experience in large multiengine aircraft with a minimum of 1,500 total flight hours as a pilot or copilot; pilot-in-command experience in large aircraft within the last 3 years; a minimum of 100 flight hours within the last 3 years; 1,000 flight hours within the last 5 years; the successful completion of turbojet evaluation; and no more than 2 flying accidents in the last 5 years.

Applicants for positions as mine safety and health inspectors generally must have experience in mine safety, management, or supervision. Some may possess a skill such as that of an electrician (for mine electrical inspectors). Applicants must meet strict medical requirements and be physically able to perform arduous duties efficiently. Many mine safety inspectors are former miners.

Bank examiners need 5 or more years of experience in examining or auditing (internal or external) financial institutions. Candidates should have demonstrated a thorough understanding of a broad range of business risks as well as safety and soundness issues. Successful candidates typically have experience in evaluating computer risk management in financial institutions, including recovery planning, information security, and data integrity.

Environmental health inspectors, also called sanitarians in many States, may have completed a full 4-year course of study that meets all the requirements for a bachelor's degree, and that included or was supplemented by at least 30 semester hours in a science or any combination of sciences directly related to environmental health-for example, sanitary

science, public health, chemistry, microbiology, or any appropriate agricultural, biological, or physical science. Alternately, they may have 4 years of specialized experience in inspectional, investigational, technical support, or other work that provided a fundamental understanding of environmental health principles, methods, and techniques equivalent to that which would have been gained through a 4-year college curriculum or some combination of education and experience as described above. In most States, they are licensed by examining boards.

All inspectors and compliance officers are trained in the applicable laws or inspection procedures through some combination of classroom and on-the-job training. In general, people who want to enter this occupation should be responsible and like detailed work. Inspectors and compliance officers should be able to communicate well.

Federal Government inspectors and compliance officers whose job performance is satisfactory advance through their career ladder to a specified full-performance level. For positions above this level, usually supervisory positions, advancement is competitive and based on agency needs and individual merit. Advancement opportunities in State and local governments and the private sector are often similar to those in the Federal Government.

Job Outlook

Average growth in employment of inspectors and compliance officers is expected through 2008, reflecting a balance of continuing public demand for a safe environment and quality products against the desire for smaller government and fewer regulations. Additional job openings will arise from the need to replace those who transfer to other occupations, retire, or leave the labor force for other reasons. In private industry, employment growth will reflect industry growth and the continuing self-enforcement of government and company regulations and policies, particularly among franchise operations in various industries.

Employment of inspectors and compliance officers is seldom affected by general economic fluctuations. Federal, State, and local governments, which employ four-fifths of all inspectors, provide considerable job security.

Earnings

The median annual salary of inspectors and compliance officers, except construction, was $36,820 in 1998. The middle half earned between $28,540 and $48,670. The lowest 10 percent earned less than $22,750, while the highest 10 percent earned over $72,280. Inspectors and compliance officers employed by local governments had earnings of $31,800 in 1997; those who worked for State governments earned a median annual salary of $33,700; and those in the Federal Government earned $39,900.

In the Federal Government, the annual starting salaries for inspectors varied from $25,500 to $31,200 in 1999, depending on the nature of the inspection or compliance activity. Beginning salaries were slightly higher in selected areas where the prevailing local pay level was higher. The following presents average salaries for selected inspectors and compliance officers in the Federal Government in nonsupervisory, supervisory, and managerial positions in early 1999.

Air safety investigators

$68,900

Underwriters determine premium rates for insurance policies.

With the aid of computers, underwriters analyze information in insurance applications to determine if a risk is acceptable and will not result in a loss. Applications are often supplemented with reports from loss-control consultants, medical reports, and actuarial studies. Underwriters then must decide whether to issue the policy and the appropriate premium to charge. In making this determination, underwriters serve as the main link between the insurance carrier and the insurance agent. On occasion, they accompany sales agents to make presentations to prospective clients.

Technology plays an important role in an underwriter's job. Underwriters use computer applications called “smart systems" to manage risks more efficiently and accurately. These systems automatically analyze and rate insurance applications, recommending acceptance or denial of the risk, and adjusting the premium rate in accordance with the risk. With these systems, underwriters are better equipped to make sound decisions and avoid excessive losses.

Most underwriters specialize in one of three major categories of insurance-life, health, or property and casualty. Life and health insurance underwriters may further specialize in group or individual policies. The increased complexity of insurance plans and attention to the "bottom line" is changing the nature of underwriting. In the past, insurance agents acting as underwriters, particularly in the life and health fields, could accept or reject applications. Now this underwriting role is done mostly by full-time underwriters in the home or field office of the insurance company.

Property and casualty underwriters usually specialize in commercial or personal lines and then often by type of risk insured, such as fire, homeowners, automobile, marine, liability, or workers' compensation. In cases where casualty companies provide insurance through a single "package" policy, covering various types of risks, the underwriter must be familiar with different lines of insurance. For business insurance, the underwriter often must be able to evaluate the firm's entire operation in appraising its application for insurance.

An increasing proportion of insurance sales, particularly in life and health insurance, is being made through group contracts. A standard group policy insures everyone in a specified group through a single contract at a standard premium rate. The group underwriter analyzes the overall composition of the group to assure that the total risk is not excessive. Another type of group policy provides members of a group— a labor union, for example-with individual policies reflecting their needs. These usually are casualty policies, such as those covering automobiles. The casualty underwriter analyzes the application of each group member and makes individual appraisals. Some group underwriters meet with union or employer representatives to discuss the types of policies available to their group.

insurance carriers, and secondly for life insurance carriers. Most of the remaining underwriters work in insurance agencies or for organizations that offer insurance services to insurance companies and policyholders. A small number of underwriters work in agencies owned and operated by banks, mortgage companies, and real estate firms.

Most underwriters are based in the insurance company's home office, but some, mostly in the property and casualty area, work out of regional branch offices of the insurance company. These underwriters usually have the authority to underwrite risks and determine an appropriate rating without consulting the home office.

Training, Other Qualifications, and Advancement

For entry level underwriting jobs, most large insurance companies prefer college graduates who have a degree in business administration or finance, with courses or experience in accounting. However, a bachelor's degree in almost any field-plus courses in business law and accounting-provides a good general background and may be sufficient to qualify. Computer knowledge is essential.

New employees usually start as underwriter trainees or assistant underwriters. They may help collect information on applicants and evaluate routine applications under the supervision of an experienced risk analyst. Property and casualty trainees study claim files to become familiar with factors associated with certain types of losses. Many larger insurers offer work-study training programs, lasting from a few months to a year. As trainees gain experience, they are assigned policy applications that are more complex and cover greater risks. These require the use of computers for more efficient analysis and processing.

Continuing education is necessary for advancement. Insurance companies usually pay tuition for underwriting courses that their trainees successfully complete; some also offer salary incentives. Independent study programs for experienced property and casualty underwriters are also available. The Insurance Institute of America offers a program called "Introduction to Underwriting" for beginning underwriters, and the specialty designation, AU, or Associate in Underwriting, the second formal step in developing a career in underwriting. To earn the AU designation, underwriters complete a series of courses and examinations that generally last 2 years.

The American Institute for Chartered Property Casualty Underwriters awards the designation, CPCU, or Chartered Property and Casualty Underwriter, the third and final stage of development for an underwriter. Earning the more advanced CPCU designation takes about 5 years, and requires passing 10 examinations covering personal and commercial insurance, risk management, business and insurance law, accounting, finance, management, economics, and ethics. Although CPCU's may be underwriters, the CPCU is intended for everyone working in all aspects of property and casualty insurance. The American College offers the Chartered Life Underwriter (CLU) designation and the Registered Health Underwriter (RHU) designation for all professionals working in the fields of life and health insurance.

Underwriting can be a satisfying career for people who enjoy analyzing information and paying attention to detail. In addition, underwriters must possess good judgment in order to make sound decisions. Excellent communication and interpersonal skills are also essential, as much of their work involves dealing with agents and other insurance professionals.

Experienced underwriters who complete courses of study may advance to senior underwriter or underwriting manager positions. Some underwriting managers are promoted to senior managerial jobs. At some carriers, a master's degree is needed to achieve this level. Other underwriters are attracted to the earnings potential of sales and therefore obtain State licenses to sell insurance and insurance products as agents or brokers.

Job Outlook

Employment of underwriters is expected to increase more slowly than the average for all occupations through 2008. Computer-assisted software that helps underwriters analyze policy applications more quickly and accurately has made underwriters more productive and capable of

taking on a greater workload. Mergers and acquisitions of insurance companies are also expected to continue to result in more downsizing of insurance carriers. Most job openings will result from the need to replace underwriters who transfer or leave the occupation, although several new job openings are being created for underwriters in the area of product development. These underwriters help set the premiums for new insurance products, such as in the growing field of long-term care insurance.

The best job prospects will be for underwriters with the right skills and credentials, such as excellent computer and communication skills, coupled with a background in finance. Job prospects may be better in health insurance than in property and casualty and life insurance. As Federal and State laws require health insurers to accept more applicants for insurance, the number of policies sold will increase. Also, as the population ages, there will be a greater need for health and longterm care insurance.

Because insurance is considered a necessity for people and businesses, there will always be a need for underwriters. It is a profession that is less subject to recession and layoffs than other fields. Underwriters who specialize, though, may have difficulty transferring to another underwriting specialty if downsizing were to occur.

Sources of Additional Information

Information about a career as an insurance underwriter is available from the home offices of many life insurance and property-liability insurance companies. Information about careers in the property-casualty insurance field can be obtained by contacting:

The Insurance Information Institute, 110 William St., New York, NY 10038. Internet: http://www.iii.org

Information on the underwriting function, in particular, and the CPCU and AU designation can be obtained from:

The American Institute for Chartered Property and Casualty Underwriters, and the Insurance Institute of America, 720 Providence Rd., P.O. Box 3016, Malvern, PA 19355-0716. Internet: http://www.aicpcu.org

Loan Officers and Counselors

(O*NET 21108)

Significant Points

Loan officer positions generally require a bachelor's degree in finance, economics, or a related field; training or experience in banking, lending, or sales is advantageous.

Loan officers obtain financial information from clients.

Low interest rates will keep demand for loans high, causing employment of loan officers to grow about as fast as average; growth will be tempered by technology that makes these employees more productive.

Nature of the Work

For many individuals, taking out a loan may be the only way to afford a house, car, or college education. Likewise for businesses, loans are essential to start many companies, purchase inventory, or invest in capital equipment. Loan officers facilitate this lending by seeking potential clients and assisting them in applying for loans. Loan officers also gather information about clients and businesses to ensure that an informed decision is made regarding the quality of the loan and the probability of repayment.

Loan officers usually specialize in commercial, consumer, or mortgage loans. Commercial or business loans help companies pay for new equipment or expand operations; consumer loans include home equity, automobile, and personal loans; and mortgage loans are made to purchase real estate or to refinance an existing mortgage. In addition, banks and other lenders are offering a growing variety of loans. Loan officers must keep abreast of new types of loans and other financial products and services, so they can meet their customers' needs.

In many instances, loan officers act as salespeople. Commercial loan officers, for example, contact firms to determine the firms' demand for loans. If the firm is seeking new funds, the loan officer will try to persuade the company to obtain the loan from their institution. Similarly, mortgage loan officers develop relationships with commercial and residential real estate agencies, so when an individual or firm buys a property, the real estate agent might recommend contacting that loan officer for financing.

Once this initial contact has been made, loan officers guide clients through the process of applying for a loan. This process begins with a formal meeting or telephone call with a prospective client, during which the loan officer obtains basic information about the purpose of the loan and explains the different types of loans and credit terms that are available to the applicant. Sometimes, the loan officer assists the client in filling out the application and answers questions about the process.

After completing the forms, the loan officer begins the process of analyzing and verifying the application to determine the client's creditworthiness. The loan officer may request a copy of the client's credit history from one of the major credit reporting agencies, or in the case of commercial loans, she or he may request copies of the company's financial statements. Loan officers include this information and their written comments in a loan file, used to analyze the viability of the loan vis-à-vis the lending institution's requirements. At this point, the loan officer, in consultation with her or his manager, decides whether

to grant the loan. If approved, a repayment schedule is then arranged with the client.

A loan that would otherwise be denied may be approved, if the customer can provide the lender with appropriate collateral-property pledged as security for the payment of a loan. For example, when lending money for a college education, the bank may insist that the borrower offer her or his home as collateral. If the borrower were ever unable to repay the loan, the borrower would have to sell the home to raise the necessary money.

Once the loan has been granted, loan counselors, also called loan collection officers, may need to contact borrowers with delinquent accounts to help them find a method of repayment to avoid default on the loan. If a repayment plan cannot be developed, the loan counselor initiates collateral liquidation, in which case the collateral used to secure the loan—a home or car, for example-is seized by the lender and sold to repay the loan. A loan officer can also perform this function.

Working Conditions

Working as a loan officer usually involves considerable travel. For example, commercial and mortgage loan officers frequently work away from their offices and rely on laptop computers, cellular phones, and pagers to keep in contact with their offices and clients. Mortgage loan officers often work out of their home or car, visiting offices or homes of clients while completing loan applications. Commercial loan officers sometimes travel to other cities to prepare complex loan agreements. Consumer loan officers and loan counselors, however, are likely to spend most of their time in an office.

Most loan officers and counselors work a standard 40-hour week, but many work longer, depending on the number of clients and the demand for loans. Mortgage loan officers can work especially long hours, because they are free to take on as many customers as they choose. Loan officers usually carry a heavy caseload and sometimes cannot accept new clients until they complete current cases. They are especially busy when interest rates are low, triggering a surge in loan applications.

Employment

Loan officers and counselors held about 227,000 jobs in 1998. Approximately half were employed by commercial banks, savings institutions, and credit unions. Others were employed by nonbank financial institutions, such as mortgage banking and brokerage firms and personal credit firms.

Loan officers are employed throughout the Nation, but most work in urban and suburban areas. In rural areas, the branch or assistant manager often handles the loan application process.

Training, Other Qualifications, and Advancement Loan officer positions generally require a bachelor's degree in finance, economics, or a related field. Most employers prefer applicants who are familiar with computers and their applications in banking. For commercial or mortgage loan officer jobs, training or experience in sales is highly valued by potential employers. Loan officers without college degrees usually have reached their positions by advancing through the ranks of an organization and acquiring several years of work experience in various other occupations, such as teller or customer service representative.

The American Institute of Banking, which is affiliated with the American Bankers Association, offers correspondence courses and college and university classes for students interested in lending as well as for experienced loan officers who want to keep their skills current. The Mortgage Bankers Association's School of Mortgage Banking also offers classes, both classroom and Internet-based, for people involved in real estate lending. Completion of these courses and programs enhances one's employment and advancement opportunities.

Persons planning a career as a loan officer or counselor should be capable of developing effective working relationships with others, confident in their abilities, and highly motivated. For public relations

purposes, loan officers must be willing to attend community events as a representative of their employer.

Capable loan officers and counselors may advance to larger branches of the firm or to managerial positions, while less capable workersand those having inadequate academic preparation could be assigned to smaller branches and might find promotion difficult. Advancement beyond a loan officer position usually includes supervising other loan officers and clerical staff.

Job Outlook

Employment of loan officers and counselors is expected to grow faster than the average for all occupations through 2008. Job growth will be driven by an increasing population, expanding economy, and low interest rates, which will lead to more applications for commercial, consumer, and mortgage loans. Growth in the variety and complexity of loans, coupled with the importance of loan officers to the success of banks and other lending institutions, should also assure employment growth. Although increased demand will generate many new jobs, most openings will result from the need to replace workers who leave the occupation or retire.

Employment growth will be tempered by several factors. First, refinancing of mortgages, a major contributor to the recent growth in the number of loan officers, is expected to diminish, because people who needed to refinance have already done so. Also, computers, underwriting software, and communication technologies are making loan officers more productive. They can now spend more time in the field with prospective clients, while still keeping in touch with the office. Also, qualifying applicants for loans is being made easier with computers performing much of the analysis. The Internet is also expected to slightly dampen the demand for loan officers, as a growing number of people apply for loans online.

Employment of loan officers is subject to the upturns and downturns of the economy. When interest rates decline dramatically, there is a surge in real estate buying and refinancing that requires additional loan officers specializing in mortgage financing. When the real estate market returns to normal, loan officers can be subject to layoffs. The same applies to commercial loan officers whose workloads increase during good economic times, as companies seek to invest more in their businesses. In difficult economic conditions, loan counselors are likely to see an increase in the number of delinquent loans.

Even in economic downturns, however, loans remain the major source of revenue for banks, so the fundamental role of loan officers will contribute to job stability. Moreover, because loan officers are often paid by commission, the bank may retain them simply by paying less compensation. As in the past, college graduates and those with banking, lending, or sales experience should have the best job prospects.