Loan OfficerCompany: Your Company Name Here
FL - Merritt Island
The role of the Loan Officer is to interview members by telephone or in person, process and disburse loans, and ensures that all paperwork is completed properly. This person also makes decisions to approve or deny loan requests. This person also provides loan and general credit union information.
- In addition to the duties of a Member Services Representative the Loan Officer will perform the following duties:
- Takes member loan applications and prepares the paperwork. Follows-up on pending loans. Processes approved loans, sets up date and time to close the loan, and makes disbursements.
- Determines and suggests referral opportunities using credit reports, member information, and credit union products. Offers GAP Insurance, Credit Life and Disability Insurance, and Extended Warranties to members.
- Analyzes current financial position of members to determine the degree of risk involved in extending credit. Makes decisions to approve, deny, or forward the loan request to a higher level for a decision.
- Provides general credit union information and explains the various types of loans to members, evaluates their needs, and recommends loan options.
- Counsels members regarding their credit.
- Contacts members with the status of their loan request.
- Ensures all loan paperwork is completed properly. Explains all required paperwork to members, mails any necessary paperwork to the members, scans, attaches, and indexes paperwork into the credit union's imaging system.
- Sets up loan payments to be automatically deducted from members' accounts.
- Answers questions by phone from members, co-workers, and dealerships regarding loans, Credit Cards, and balance inquiries.
- Provides quotes for loan rates and payoffs. Pays off loans by check or transfer from the member's account.
- Balances computer work totals at the end of each day.
- Performs other duties as assigned
- High school diploma or GED required
- High school diploma or GED required.
- One year of relevant experience.
- Displays courtesy, tact, and diplomacy during personal contact with others inside and/or outside of the organization for purposes of giving or obtaining information, building relationships, or soliciting cooperation. Strong written, verbal, and interpersonal skills.
- Must be detail oriented, organized, accurate, able to work under pressure, ability to adapt to change, and problem solving skills.
- Must be analytical, demonstrate good judgment, decision making, and time management skills.
- Must be knowledgeable of the credit union products and services including the various types of loan products. Has an understanding of the paperwork that is required for each loan and how to read a credit report. Ability and willingness to refer credit union products and services.
- Excellent working knowledge of the credit union's policies and procedures.
- Proficient with the use of computers. Ability to use a calculator and initiative to learn new technology and tasks.
- Has an understanding of the BSA, OFAC, FACT Act, Reg. B and Reg. Z.
- Able to deal with confidential information appropriately
- Tuition Reimbursement after 1 year of employment (full-time employees)
- Dental Insurance (available at minimal cost to full-time employees)
- Medical Insurance (available at minimal cost to full-time employees)
- 401(K) with fully vested employer match after 6 months of employment
- Paid PTO (full-time employees)
- Paid Training