Loan Officers

Loan Officers typically perform the following tasks: • Meet with applicants to obtain information for loan applications and to answer questions about the process. • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans. • Approve loans within specified limits, and refer loan applications outside those limits to management for approval. • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services. • Submit applications to credit analysts for verification and recommendation. • Review loan agreements to ensure that they are complete and accurate according to policy. • Review and update credit and loan files. • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information. • Work with clients to identify their financial goals and to find ways of reaching those goals. • Handle customer complaints and take appropriate action to resolve them. • Stay abreast of new types of loans and other financial services and products to better meet customers' needs. • Market bank products to individuals and firms, promoting bank services that may meet customers' needs. • Analyze potential loan markets and develop referral networks to locate prospects for loans. • Compute payment schedules. • Supervise loan personnel. • Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action. • Set credit policies, credit lines, procedures and standards in conjunction with senior managers. • Assist in selection of financial award candidates using electronic databases to certify loan eligibility. • Authorize or sign mail collection letters. • Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.