How to write a Loan Officer job description

Your job description is the first touchpoint between your company and your new hire. With millions of people searching for jobs on Indeed each month, a great job description can help you attract the most qualified candidates to your open position. To get you started, here are some tips for creating an effective job description.

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Loan Officer job title

A great job title typically includes a general term, level of experience and any special requirements. The general term will optimise your job title to show up in a general search for jobs of the same nature. The level of experience will help you attract the most qualified applicants by outlining the amount of responsibility and prior knowledge required. And if your position is specialised, consider including the specialisation in the job title as well. But avoid using internal titles, abbreviations or acronyms to make sure people understand what your job posting is before clicking.

Examples of Loan Officer job titles

    Loan Officer
    Senior Loan Officer
    Commercial Loan Officer
    Loan Officer (Part-Time)
    Mortgage Loan Officer

Loan Officer job summary

A great job description starts with a compelling summary of the position and its role within your company. Your summary should provide an overview of your company and expectations for the position. Outline the types of activities and responsibilities required for the job so job seekers can determine if they are qualified, or if the job is a good fit.

Example of a Loan Officer job summary

Our lending institution is looking for a Loan Officer who is prepared to make a difference in the lives of customers looking to buy a home. The Loan Officer will be responsible for discussing client’s needs, recommending the best loan products, helping customers put together a complete loan package and working with the underwriting team throughout the loan process. The ideal candidate also has experience managing home equity loans, home equity lines of credit, mortgage refinancing and other bank products.

Loan Officer responsibilities and duties

The responsibilities and duties section is the most important part of the job description. Here you should outline the functions this position will perform on a regular basis, how the job functions within the organisation and who the employee reports to.

Examples of Loan Officer responsibilities

    Meet with customers to determine their needs and recommend the right loan products to help meet their goals
    Maintain an active knowledge base of all of the organisation’s loan products and an understanding of the qualifications required of each applicant
    Identify and recommend products that meets the customer’s needs and the organisation’s lending guidelines
    Review active loan files each day to determine if any documents are missing or what can be done to help the process along
    Utilise professional judgement to determine which potential borrowers represent good risk opportunities for the organisation

Loan Officer qualifications and skills

Next, outline the required and preferred skills for your position. This may include education, previous job experience, certifications and technical skills. You may also include soft skills and personality traits that you envision for a successful hire. While it may be tempting to include a long list of skills and requirements, including too many could dissuade qualified candidates from applying. Keep your list of qualifications concise, but provide enough detail with relevant keywords and terms.

Examples of Loan Officer skills

    Bachelor’s Degree in Finance required
    Current registration under the National Mortgage Licensing System and Registry
    3+ years’ experience in the consumer loan industry
    Excellent communications and customer service skills
    Strong attention to detail and a mind for numbers

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