Consumer loan officer job description

Consumer loan officer job description

Job purpose of consumer loan officer is to solicit, market, and process consumer loans and other services; to properly service customers within the policies, objectives, and guidelines.

Key duties/responsibilities of consumer loan officer:

1. Interviews and accepts all Consumer Loan Applications obtaining financial information and purpose of the loan.

2. Actively participates in the solicitation of lending business and cross-selling of products to customers in person or by phone.

3. Demonstrates progress toward loan production goals set by management.

4. Under manager direction, works collaboratively with Collections department to minimize loan losses, including but not limited to, telephone and field calls to collect.

5. Completes assigned training on a timely basis; demonstrates good working knowledge of bank policies and procedures.

6. Receives training in completion of loan applications, processing and closing of consumer loan products.

7. Through on-the-job training and attendance in approved classes, gains understanding of any applications of Federal and State laws concerning the purpose, processing, approval and denial of loan requests.

8. Develops a strong working knowledge of all consumer regulations, including: Regulations B, G, and Z, Uniform Commercial Code, FHLBB, FSLIC and State Statutes.

9. Analyzes the prospective loan request for previous credit and current financial obligations.

10. Determines purpose of loan and method of repayment.

11. Qualifies, approves, denies, or counter-offers the loan within assigned credit lines and company policy and is prepared to justify that decision to both the customer and management.

12. Documents credit analysis.

13. Refers those decisions beyond the loan officer’s credit limit to the appropriate level of management, recommending approval or rejection and justifying that decision.

Related bank documents

• All Bank KPIs (used to measure all bank jobs performance).
• All bank job descriptions
• All bank interview questions
Bank cover letters
• All samples of Bank resumes
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One Response to “Consumer loan officer job description”

  1. Romana Guzmdn says:

    Loans have been known to give people personal prestige in their residential areas. It accords them a robotic sixth sense of risk taking that others of their neighborhood can’t try. Taking loans in the glare of public limelight improves their social CV.

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