Job Purpose & Summary The Loan Officer evaluates and recommends approval or decline of loan applications. The Loan Officer will act as primary liaison between customers and our financial institution and will help qualified applicants acquire loans in a timely manner
Duties and Responsibilities
Perform business development tasks, including managing the pipeline by generating leads and referral business, and maintaining relationships with existing and past clients.
Assess customer needs, explore all options and propose alternative types of loans
Develop referral networks and suggest alternate channels to accomplish targets
On-board new loans to ensure delivery of business targets.
Explain to clients the different types of loans and credit options that are available, the risks and benefits of each, as well as the terms of loan products.
Collect all clients’ required documents for loan application to ensure their eligibility to have it approved.
Conduct credit investigation to analyze applicants’ financial status, order/contract profitability, and repayment capacity to determine feasibility of granting loans.
Gather valid applicants’ financial records by obtaining and compiling copies of clients’ credit histories, order/contract performance, order/contract status and other financial information to prevent reliance on fraudulent data.
Ensure all necessary information and documentation is recorded properly in electronic file format
Where applicable, conduct a site visit during loan assessment process to obtain in-depth information concerning to the purpose of customer’s loan application and ensure customer security for the loan is sufficient and acceptable.
Complete loan contracts and counsel clients on policies and restrictions
Conduct activities to put loan securities in place to mitigate financial loss.
Prepare qualifying disbursements for review and sign off
Make regular site visits to existing customers in order to determine whether the loan should stay the same or be downgraded due to the actual condition of their loan collateral and/or financial situation as well as to develop relationship with customers for further cross-selling.
Follow up delinquent client immediately and refer such case to the Credit Manager in order to proactively handle the loan portfolio.
Stay abreast of new types of loans and other financial services and products to better meet customer needs.
Go the “extra mile” to build trust relationships, customer loyalty and satisfaction throughout the lending process
Οperate in compliance with laws and regulations and adhere to lending compliance guidelines
Skills and Specifications
Relevant degree or diploma
2 years experience in similar role
Ability to use Microsoft Office.
Good sales and customer services skills.
Good math skills and ability to spot numerical errors.
Good problem solving, negotiation and interpersonal skill.