Loan Officer

Compensation

: $64,520.00 - $100,830.00 /year *

Employment Type

: Full-Time

Industry

: Financial Services - Banking/Investment/Finance



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Job Title: Loan Officer
Department: Loans
Reports To: President
FLSA Status: Exempt
Created By: Human Resource Department
Date: March 2020


Loan Officer JOB DESCRIPTION


I/ General Purpose

Plan, direct, and coordinate lending activitiesworking with the Loan Supervisor(s), other Loan Officers, President and board members. Evaluate, authorize or recommend approval of Commercial, Real Estate, and Consumer Loans. Advise borrowers on financial status and methods of payments. Call, discuss, negotiate and use legal process to collect past due loans. Administer Bank s Mission Statement. Use relevant information and individual judgment to determine whether events or processes comply with current laws, regulations, bank policies and credit standards.

II/ Essential Duties/ Responsibilities

Consumer, Commercial, and Real Estate loan experience Secondary market mortgage experience is a plus
Solid understanding of direct/indirect lending products and practices
Solid understanding of loan compliance and regulations
Regular attendance and prompt punctuality to work

Complete the full loan application processMeet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze the credit history of applicants and determine loan repayment capability Analyze applicants' financial status, credit, and collateral evaluations to determine feasibility of granting loans.
Negotiate credit terms, such as costs, loan repayment methods and collateral specificationsObtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Compute payment schedules. Obtain proper documentation needed for the customer to obtain the loan as well as necessary documentation to secure the loan and perfect the lien for the bank.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Ensure that lending practices are in accordance with established Bank policiesStay abreast of new types of loans and other financial services and products to better meet customers' needs.
Produce increasing profitable loan volume, maintain a low delinquency and charge off rateNegotiate payment arrangements with customers who have delinquent loans. Arrange for maintenance and liquidation of delinquent properties.
Develop new customer prospects and business for the financial institutionAnalyze potential loan markets and develop referral networks to locate prospects for loans.
Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
Other duties as assigned


III / Knowledge, Skills and Ability:

5+ years lending experience preferred
Experience in secondary market loans is desired
BS degree in finance, economics or related field
Graduate of Banking School preferred
Excellent oral and written communication skills, customer service is a must
Organized, detail oriented.
Ability to prioritize tasks
Knowledge of Laser Pro and Jack Henry is a plus.
Knowledge and understanding of Microsoft Office, Word and Excel along with other general computer skills.
Excellent written and oral communication skills.
Demonstrated leadership ability, willing to be part of a team and interpersonal skills.
Excellent analytical and abstract reasoning skills, plus excellent organization skills


V/ Physical Activities:

While performing the duties of this job, the employee is regularly required to stand, walk, sit, and reach with arms. The employee must occasionally lift and /or move 25-30 pounds.



Please Note:This job description is not intended to be an exhaustive list of all duties, responsibilities, or qualifications associated with the job. Duties, responsibilities or qualifications may change at any time with or without notice.
LOAN OFFICER

POSITION SUMMARY


Complete the full loan application process
Analyze the credit history of applicants and determine loan repayment capability
Negotiate credit terms, such as costs, loan repayment methods and collateral specifications
Develop new customer prospects and business for the financial institution
Produce increasing profitable loan volume, maintain a low delinquency and charge off rate
Ensure that lending practices are in accordance with established Bank policies
Other duties as assigned
Associated topics: banker, commercial loan, counselor, loan, loan originator, mortgage loan, mortgage officer, mortgage servicing officer, sale, sell * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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