Consumer loan officers specialize in loans to people. Consumers take out loans for many reasons, such as buying a car or paying college tuition. For some simple consumer loans, the underwriting process is fully automated. However, the loan officer is still needed to guide applicants through the process and to handle cases with unusual circumstances. Some institutions—usually small banks and credit unions—do not use underwriting software and instead rely on loan officers to complete the underwriting process manually.
Consumer Loan Officer Job Description Template
Our company is looking for a Consumer Loan Officer to join our team.
Responsibilities:
- Ensures compliance with National Credit Union Association and Department of Defense Lending rules and regulations;
- Supports other Credit Union departments and branches with loan originations;
- Approves or declines loans within lending limits;
- Determines if requested loans fit into guidelines for a specific product and, if not, recommends alternative products;
- Performs audits of loan files;
- Requests additional information needed to complete the loan decision, such as lien searches, flood certifications, appraisals, proof of income, etc;
- Demonstrates a thorough knowledge of credit union loan guide policies and follows these guidelines in making loan decisions;
- Ensures completeness and accuracy of supporting loan documentation.
Requirements:
- Thorough knowledge of state/federal laws and regulations regarding lending required;
- Prefer two years of loan officer experience to include: credit analysis and sales/business development experience;
- AA degree preferred;
- Two years of loan officer experience to include: credit analysis and sales/business development experience;
- High school diploma or GED required;
- Strong written and verbal communication skills;
- Strong multi-tasking skills required;
- Demonstrates a thorough knowledge of credit union loan guide polices;
- Strong computer and internet skills, including Microsoft Office applications;
- Strong organizational and time management skills.