Loan Officer

A loan officer is responsible for evaluating, authorizing, or recommending approval of loan applications for people and businesses. They also advise borrowers on financial status and payment methods.

Responsibilities:

• Evaluate credit worthiness by processing loan applications and documentation within specified limits
• Interview applicants to determine financial eligibility and feasibility of granting loans
• Determine all applicable ratios and metrics and set up debt payment plans
• Communicate with clients either to request or to provide information
• Justify decisions (approvals/rejections) and report on them
• Complete loan contracts and counsel clients on policies and restrictions
• Update job knowledge on types of loans and other financial services
• Maintain and update account records
• Assess customer needs, explore all options and introduce different types of loans
• Develop referral networks, suggest alternate channels and cross-sell products and services
• Ensure compliance with all financial policies and regulations

Requirements:

• Proven working experience as a loan officer
• Familiarity with computers and banking applications/software
• Solid understanding of direct/indirect lending products and practices
• Excellent communication and interpersonal abilities
• Customer satisfaction orientation and sales competencies
• Ability to work in a goal-oriented environment
• BS degree in finance, economics or a related field