Loan Officer Job Description

Job Brief 

We are looking for a Loan Officer who is experienced and driven to join our team and support our clients in securing financing for personal or business purposes. 

The successful candidate will evaluate loan applications, analyze financial data, and provide recommendations for loan approval or rejection. 

The ideal candidate must possess exceptional interpersonal and communication skills, have the ability to work in a dynamic environment, and possess a comprehensive knowledge of lending principles and regulations.

Responsibilities:

• Evaluate loan applications and analyze financial information to determine eligibility for financing.
• Communicate with clients to gather additional information or clarify details of the loan application.
• Review credit reports, income statements, and other financial documents to make informed recommendations on loan requests.
• Explain loan options and terms to clients, and assist in completing loan applications.
• Follow up with clients to ensure timely submission of required documents and provide updates on loan status.
• Ensure compliance with lending regulations and policies.
• Collaborate with other departments to ensure accurate and timely reporting and analysis.
• Provide excellent customer service to clients and other stakeholders.

Requirements:

• Bachelor's degree in finance, business, or a related field required
• Minimum of 3-5 years of experience in lending or a related field
• Strong understanding of lending principles and regulations, including consumer and commercial lending
• Excellent analytical, organizational, and communication skills
• Ability to manage multiple priorities and meet deadlines
• Experience with loan processing software and systems, such as Encompass or Calyx Point
• Ability to work independently and as part of a team
• Strong customer service skills
• NMLS (Nationwide Multistate Licensing System) license is required
• Experience in a similar industry or field is a plus