Example Commercial Loan Officer Job Description

Our Commercial Loan Officer job description includes the Administrative Assistant responsibilities, duties, skills, education, qualifications, and experience.

About the Commercial Loan Officer role

A Commercial Loan Officer is responsible for evaluating and approving loan requests for businesses and organizations. They must analyze financial and credit data, identify potential risks, and make loan decisions. They also provide customers with advice on financial matters, and negotiate loan terms.

Role Purpose

The purpose of a Commercial Loan Officer is to evaluate, authorize, or recommend approval of commercial loan applications. They are responsible for assessing the creditworthiness of potential borrowers and ensuring that loans meet the institution’s risk standards. Commercial Loan Officers also prepare loan documents, explain loan products, and advise customers on all aspects of loan products and services. They must stay up-to-date on financial regulations and procedures, and keep track of customer loan repayment activities.

Commercial Loan Officer Summary

The Commercial Loan Officer is responsible for providing financial services to businesses and individuals, such as loans and lines of credit. The Loan Officer will work with clients to develop customized loan solutions that meet the borrower's needs. Responsibilities include evaluating creditworthiness, determining loan terms, preparing loan applications, and monitoring loan servicing. The Loan Officer must also stay current with financial trends and regulations to ensure compliance with all applicable laws. Excellent customer service and communication skills are essential for this role.

Commercial Loan Officer Duties

  • Examine loan applications and supporting documentation
  • Analyze applicant financial data to determine feasibility of granting loan
  • Consult with applicants and discuss loan options and terms
  • Develop and maintain relationships with loan applicants and other lenders
  • Review loan requests for accuracy and compliance with applicable laws and regulations
  • Stay abreast of changes in lending regulations and policies
  • Negotiate loan terms and conditions
  • Assess creditworthiness of loan applicants
  • Process and submit loan applications to approval authorities
  • Close approved loans
  • Monitor loan portfolio

Commercial Loan Officer Skills

  • Strong analytical and communication skills
  • Knowledge of loan products and regulations
  • Excellent customer service skills
  • Attention to detail
  • Ability to work independently

Commercial Loan Officer Requirements

  • Bachelor’s degree in finance, banking, business administration or accounting
  • Proficiency in financial analysis software
  • Knowledge of banking regulations
  • Strong customer service and communication skills
  • Excellent problem-solving and negotiation abilities

Personal Traits

  • Excellent customer service skills
  • Strong organizational skills
  • Ability to work independently and as part of a team
  • Attention to detail
  • Ability to work under pressure

© Hiring People. All rights reserved.