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POSITION DESCRIPTION                                                                                                               

Position Title:      Loan Officer                                            

REPORTING RELATIONSHIPS

Position Reports To:       Vice President Lending

Positions Supervised:     None        

POSITION PURPOSE

Responsible for receiving, reviewing, and processing applications for consumer, home improvement, credit card, and overdraft account loans.  Meets with applicants to explain credit policies and to obtain additional loan information/documentation.  Assembles and evaluates loan applications and approves those that meet initial lending criteria and are within approved lending limits.  Ensures that members and prospective members are promptly and professionally served.   Provides general Credit Union information and cross-sells services.

NATURE AND SCOPE

This position requires excellent public relations skills and a thorough understanding of lending programs, policies, and procedures as well as related legal requirements.  Good organization and tact are vital to the successful execution of this position.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

1.             Assumes responsibility for effectively receiving, reviewing, and processing loan applications. 

a.             Interviews, takes applications, gathers information and processes preliminary documentation on loan requests.

b.             Evaluates and verifies loan applications and credit criteria.  Computes debt ratios.  Verifies employment and income. Determines value of collateral.  Approves loans within limits of authority and notifies applicants of loan decisions.  Requests additional information if required.

c.             Coordinates and processes closings.  Ensures that each loan is promptly and properly prepared, documented, processed, approved, and disbursed.

d.             Calculates terms, finance charges, and insurance, on loans for proper disclosure on promissory notes.

e.             Assists in servicing loans by processing such items as payoff, refinances, problem loan work-out arrangements, address changes, payment extensions, collateral releases, and payment due date changes.

f.             Assumes responsibility for filing vehicle titles and prompt follow-up on titles still pending.  Verifies car insurance coverage.  Makes car appraisals.

  g.            Sells credit life and disability insurance.

h.             Performs duties of area personnel as required.

i.              Ensures that lending operations are conducted in accordance with established Credit Union policies and are legally compliant.  Ensures that loan requests are properly documented.

2.             Assumes responsibility for establishing and maintaining effective and professional business relationships with members.

a.             Resolves members' requests and questions promptly and courteously.  Provides blue book values.

b.             Keeps members properly informed of Credit Union loan policies and services.

c.             Ensures that the Credit Union's quality and professional reputation is projected and maintained.

d.             Counsels members regarding money management and financial matters.

3.             Assumes responsibility for establishing and maintaining effective coordination and communication with area personnel and with management.

a.             Assists area personnel as needed.  Assists other Loan Officers.

b.             Assists in training and cross-training Loan support personnel.

c.             Completes reports and records promptly and accurately.  Types loans and all supporting                          documents as required.

d.             Attends meetings as required.

e.             Keeps Management informed of area activities and of any significant problems.

4.             Assumes responsibility for related duties as required or assigned.

a.             Actively and professionally cross-sells Credit Union services. 

b.             Stays informed regarding local and national economic conditions and legal and regulatory                      changes.

c.             Ensures proper maintenance, cleanliness, and security of work area, desks, equipment, etc.

PERFORMANCE MEASUREMENTS

1.             Lending functions are effectively performed in accordance with established Credit Union policies and with legal and regulatory requirements.

2.             Good business relations exist with members.  Programs and services are properly and thoroughly explained and members' needs accurately assessed.  Members' problems are courteously and promptly resolved.

3.             Required reports are accurate and timely.

4.             Good working relationships exist with area personnel and with management.  Area personnel are assisted as needed.

5.             Credit applications and related financial data are closely and effectively analyzed and evaluated.

6.             Personal delinquency write-off numbers are in line with Credit Union objectives.

QUALIFICATIONS

Education/Certification:        High school graduate with required loan training and certification.                                               

Required Knowledge:              Knowledge of Credit Union loan services, policies, and procedures. Understanding of related legal and regulatory standards, and required loan documentation. Knowledge of consumer and residential lending practices.                                               

Experience Required:               Previous lending experience or previous experience with full-service financial institution helpful. Minimum 1 year related experience.

Skills/Abilities:                          Excellent interviewing, communication, and public relations skills. Professional appearance and attitude. Strong analytical and financial skills. Ability to operate related computer applications, and other business equipment including calculators, typewriter, printer, telephone, and notary stamp. Good typing skills.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

 

Talking:                                             Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

Average Hearing:                        Able to hear average or normal conversations and receive ordinary information.

Repetitive Motion:                       Movements frequently and regularly required using the wrists, hands, and/or fingers.

Average Visual Abilities:        Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.

Physical Strength:                    Sedentary Work; sitting most of the time.  Exerts up to 10 lbs of force occasionally.  (Almost all office jobs.)

WORKING CONDITIONS

 

None:                                         No hazardous or significantly unpleasant conditions  (such as in a typical office).

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Reasoning Ability:                       Ability to deal with a variety of variables under only limited standardization.

                                                                Able to interpret various instructions.

Mathematics Ability:                  Ability to compute discount, interest, profit, and loss; commission markup and selling price; ratio and proportion and percentage.

                                                                Able to perform very simple algebra.

Language Ability:                        Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias.

                                                                Ability to prepare memos, reports, and essays using proper punctuation, spelling and grammar.

                                                                Ability to communicate distinctly with appropriate pauses and emphasis; correct punctuation (or sign equivalent) and                                                                          variation in word order; using present,  perfect, and future tenses.

INTENT AND FUNCTION OF JOB DESCRIPTIONS

 

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected.  They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions.  Well constructed job descriptions are an integral part of any effective compensation system. 

 

All descriptions have been reviewed to ensure that only essential functions and basic duties have been included.  Peripheral tasks, only incidentally related to each position, have been excluded.  Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions.  In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all inclusive.  Additional functions and requirements may be assigned by supervisors as deemed appropriate. 

 

In accordance with the American with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals.  However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

 

Job descriptions are not intended and do not create employment contracts.  The organization maintains its status as an at-will employer.  Employees can be terminated for any reason not prohibited by law.