Loan Officer Job Specification

A loan officer is responsible for obtaining the maximum funds for the bank by finding the potential clients and assisting them to understand the high return bank products. A loan officer plays an essential role for promoting the mortgage, commercial, individual and customer loans by educating the interested customers. Gathering the high profile customer information, visiting them for offering the newly introduced bank schemes by explaining the term & conditions of the offered loan product are the core duties of a loan officer. This designation equally operates to complete the loan procedure by demonstrating the monthly instalments to the customers.

Loan Officer Job Specifications:

• Sound knowledge of available banking products, such as different types of loans to target the right customers.
• Excellent communication skills to coordinate with the different banking departments for gathering potential customer’s data such as bank call canter, etc.
• Good interpersonal skills to deal with the high profile clients for motivating them by delivering the accurate information of mortgage loan, home loan, education loan and commercial loan, etc.
• Ability to identify the customer requirements of loan and confidence to suggest them the right loan option available for them by dictating the required documents such as identify proof, the latest account statement and explanation of full loan procedure along with duration.
• Aptitude to contact the defaulter loan account holders and negotiate with them to replay the instalments.
• Completing the recovery procedures and knowledge of conducting legal cases such as sending court notice, etc, to the debtors.
• Experience of preparing loan agreements, resolving the client queries and handling of serious nature loan issues.