Commercial Lending Officer Job Description


Author: Albert
Published: 1 Jan 2020

Commercial Loan Officers, A Career in Commercial Loan Processing, The CLO of the Bank's Lending Function, How Much Does a Commercial Lending Officer Make? and more about commercial lending officer job. Get more data about commercial lending officer job for your career planning.

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Commercial Loan Officers

Commercial loan officers must carefully examine loan applications and verify financial information provided on the application to determine if the business is able to meet monthly loan payments on time. The commercial loan officer will make a recommendation the loan application based on the information provided by the business and the data they uncover during the application process. Commercial loan officers receive a number of perks, including health insurance and profit-sharing. Some institutions give additional perks such as stock options, clothing, and child care services, and they also offer paid leave.

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A Career in Commercial Loan Processing

Commercial loan officers look at business loan applications. They interview commercial loan applicants, evaluate applicants' financial status, and create loan packages and payment plans. They may work at banks.

The CLO of the Bank's Lending Function

The leader of the team participates in the production and administration of the lending function. CLO is responsible for a variety of functions and tasks that are related to the Bank's lending programs to meet established objectives for profit, growth, and exceptional customer service. Loan functions are often handled by a CLO.

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How Much Does a Commercial Lending Officer Make?

How much does a commercial lending officer make? The average Commercial Lending Officer salary in the US is $101,499, but the range is between $84,993 and $114,979. Many important factors, including education, certifications, additional skills, and the number of years you have spent in your profession, can affect the salary range.

With more online, real-time compensation data than any other website, helps you determine your exact pay target. Loan officers are people who work for banks and other financial institutions to recommend individual and business loan applications for approval and participate in the front end of the mortgage origination process. Loan officers are experts in commercial, consumer and mortgage loans.

A Risk-Aware Business Advisor

When business is ready, you collect information to perform a credit review. You originate and service a variety of commercial loans. You are conscientious about portfolio maintenance and loan administration in accordance with our policies.

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Loan Officers: A Mathematical Approach

3. Managerial skills are important. Loan officers have to have strong organizational skills and a good ability to plan spatial and financial activities because they manage files, relationships, resources, time, people, and expectations.

Loan officers may not need direct managerial experience, but they do need to juggle many tasks at once, for instance, creating a guiding process to achieve a controlled direction. They should be able to see the forest. Loan officers need to be able to effectively use a host of mathematical procedures if they want to be able to originate sound loans, establish successful relationships with clients, and serve the bank or financial services company they represent.

Loan officers rely on Scheduling and Budgeting, Accounting Math, and calculations of caps on loans to give to clients, as well as calculation of funds to be transferred into clients' accounts once loans are approved and processed. Data analysis The loan officer can estimate the amount of time required to perform specific duties using the analysis of numerical or mathematical data.

A loan officer can use past experience to estimate the time it will take to make an appointment by assessing the client's current phase in the application process and their level of sophistication with loan products. Rational numbers. Loan officers need to be able to read and write, add and subtract fractions, and divide fractions by whole numbers and other fractions.

You ask why fractions. Loan officers need to be able to divide yearly amounts by twelve in order to arrive at the monthly loan payment for a client. Rational numbers.

A Commercial Lender Position in Lafayette, Indiana

American Bank & Trust Company is looking for a Commercial Lender in Lafayette. College degree is preferred, and must be able to make retention and business development calls, and have 5 years of commercial lending experience, as well as strong communication skills and extensive knowledge of lending laws and regulations. A competitive benefit package is offered. Credit check is required.

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