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Wayne Bank

Commercial Loan Officer

Career Insights for Loan Officer (General)

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What they do

A Loan Officer assists customers who apply for loans, and solicits loan applications on behalf of a bank, mortgage broker or other lender. Markets products and provides information on types of loans available, gathers financial and credit information needed to evaluate loan applications; guides the application and approval process. May specialize in loans to businesses or individuals, or in loans to buy real estate.

$115,102 / year median in Pennsylvania

-24% projected decline

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Job Description

Salary Range:
Manager III Duties:
Manages a commercial loan portfolio in the designated service area, provides direct and indirect commercial lending services and ensures efficient and effective service of commercial loans. Implements strategies to achieve and exceed established sales and customer service goals, ensures compliance with all established operating policies/procedures and outside regulatory compliance requirements. Responsible for maintaining an accurate awareness of credit quality and potential credit risks.
Skills:
Excellent written and verbal communication skills. Formal bank credit training preferred. High level analytical skills to assess and evaluate loan risk, credit limitations and appraisals; have a thorough understanding of underwriting and financial data.
Experience:
A minimum of five (5) years commercial lending or related lending experience.
Education:
Bachelors degree in business administration, accounting or finance preferred.