Commercial Loan Officer Job Description Template
The Commercial Loan Officer will be responsible for the following: -Originating and underwriting commercial loan requests in accordance with established lending policies and procedures. -Analyzing financial statements, tax returns, and other information to determine creditworthiness of borrowers and feasibility of loans. -Preparing loan proposals for presentation to Loan Committee. -Ensuring that all documentation is complete and compliant with regulatory requirements prior to closing. -Monitoring portfolio of loans to ensure timely repayment.
Commercial Loan Officer Job Responsibilities
- Originate and process commercial loans in accordance with bank guidelines.
- Review loan applications and documentation to ensure completeness and accuracy.
- Underwrite loans to assess creditworthiness of borrowers.
- Prepare loan proposals for presentation to loan committees.
- Negotiate loan terms and conditions with borrowers.
- Approve loans within lending authority limits or refer to higherlevel committee for approval.
- Monitor postclosing activities to ensure proper disbursement of funds and compliance with conditions precedent to funding such as insurance, inspections, etc.
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Objectives
- To develop and maintain a portfolio of commercial loans in order to grow the business and achieve profitability goals.
- To underwrite and approve loan applications within assigned authority, ensuring that all credit standards are met.
- To monitor and manage existing loans in order to minimize risk and maximize returns.
- To provide prompt, courteous and professional service to customers at all times.
- To keep abreast of changes in the marketplace and be able to identify new opportunities for business growth.
Commercial Loan Officer Job Skills & Qualifications Needed
- A bachelor's degree in business, accounting, finance, or a related field is typically required for this position. Prior experience working in commercial lending or banking is also preferred. Strong mathematical and analytical skills are necessary to effectively assess loan applications and make sound decisions. Excellent communication and interpersonal skills are also essential in order to build relationships with clients and provide them with the best possible service.