Loan Officer Job Description

Loan Officer Job Description


A Loan Officer job description template to hire for your Accounting department.

About the Loan Officer position

We are looking for a reliable Loan Officer to be responsible for evaluation٫ authorizing approval or denying loan applications for our private and corporate customers. You should provide support both to clients and to our financial personnel and help approved applicants acquire loans on time.

Loan Officer responsibilities are:

  • Interact with loan applicants to investigate their financial eligibility and decide about loan options
  • Make timely estimations of creditworthiness based on analysis of loan applications and related documentation
  • Create debt payment plans and calculate all applicable ratios and metrics
  • Introduce different types of loans based on the analysis of customer needs٫ explore all options
  • Interact with clients to support them or to request for information
  • Manage loan contracts and consult customers on company’s policies and restrictions
  • Make decisions (approvals/rejections) based on analysis results
  • Prepare report on the decisions and present them to senior management
  • Keep up with latest trends in the sphere of various types of loans and other financial services
  • Manage account records
  • Ensure that all loan operations are compliant with legal regulations and correspond to company’s guidelines
  • Build and maintain referral networks٫ alternate channels and other measures to optimize the performance
  • Work to create trust relationships with customers٫ achieve their loyalty and satisfaction

Loan Officer requirements are:

  • 3+ years’ experience of working on a Loan Officer position
  • Significant experience with direct and indirect lending products and practices
  • Good experience with banking applications and related software
  • Strong communication and social skills
  • Good level of sales competency
  • Goal- and customer satisfaction orientation
  • BS degree in finance٫ economics or another related area