Loan Officer

1st MS Federal Credit Union • Meridian, MS

6d

About The Position

The loan officer is responsible for receiving, reviewing, and processing applications for consumer loans. Also being able to hand out mortgage application and talk about the process of mortgages with the members. Meets with applicants to explain credit process and obtain additional loan information and documents needed for the loan. Assembles, pulls credit, calculates all ratios necessary, evaluates the loan application, and approves the loan if it fits within lending criteria and limits. Presents loan request outside of lending limits to Senior Lender or V.P. of Lending. Ensures members are promptly and professionally served. Closes and disburse loans. Proactivity seeks to generate additional loan opportunities by asking for referrals, credit mining for more lending opportunities, listening to the member's needs, and offering products to fit their needs. Taking and reviewing applications for consumer loan business Explaining loan programs and advising members of available loan options and requirements Analyzing member financial information including credit history, credit score, collateral, and other factors to determine risk and ability to repay Making loan decisions within approval authority or forwarding requests to higher levels for approval Completing or directing the completion of all loan documentation and ensuring all records are accurate and complete Meeting with members to explain loan terms and conditions and to close loans Staying current on lending trends, new loan products, and financial services Supporting lending and deposit growth through cross-selling of products and services Monitoring loans for compliance with terms and coordinating with collections as needed Authorizing releases of collateral, loan term changes, payment waivers, and due date adjustments Attending required meetings and committees Performing other job-related duties as assigned

Requirements

• One year to three years of similar or related experience
• Education: A high school education or GED
• Interpersonal Skills: Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication
• Other Skills: Thorough knowledge of principles and processes for providing member and personal services. This includes member needs assessment, meeting quality standards for services, and evaluation of member satisfaction. Considers the relative costs and benefits of potential actions and chooses the most appropriate one. Talks to others to convey information effectively

Responsibilities

• Receiving, reviewing, and processing applications for consumer loans
• Hand out mortgage application and talk about the process of mortgages with the members
• Meets with applicants to explain credit process and obtain additional loan information and documents needed for the loan
• Assembles, pulls credit, calculates all ratios necessary, evaluates the loan application, and approves the loan if it fits within lending criteria and limits
• Presents loan request outside of lending limits to Senior Lender or V.P. of Lending
• Ensures members are promptly and professionally served
• Closes and disburse loans
• Proactivity seeks to generate additional loan opportunities by asking for referrals, credit mining for more lending opportunities, listening to the member's needs, and offering products to fit their needs
• Taking and reviewing applications for consumer loan business
• Explaining loan programs and advising members of available loan options and requirements
• Analyzing member financial information including credit history, credit score, collateral, and other factors to determine risk and ability to repay
• Making loan decisions within approval authority or forwarding requests to higher levels for approval
• Completing or directing the completion of all loan documentation and ensuring all records are accurate and complete
• Meeting with members to explain loan terms and conditions and to close loans
• Staying current on lending trends, new loan products, and financial services
• Supporting lending and deposit growth through cross-selling of products and services
• Monitoring loans for compliance with terms and coordinating with collections as needed
• Authorizing releases of collateral, loan term changes, payment waivers, and due date adjustments
• Attending required meetings and committees
• Performing other job-related duties as assigned

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED