Loan Officer

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