Loan Officer

Description Loan Officer I

Status: Non-Exempt/Full-Time

Location: Cerritos

Reports to: Loan Manager/Loan Dept.

Level: Non-Management

The Loan Officer I is responsible for assisting members with their consumer lending needs by evaluating loan applications, reviewing supporting loan documents, providing excellent member service, and making sound credit decisions. This role ensures that loans are processed, underwritten, and decisioned effectively and efficiently while adhering to the Credit Union’s policies, procedures, and regulatory requirements. Responsibilities also include meeting production and quality goals for loan processing and decision accuracy.

On-site presence during business hours is required for this role.

• Interview loan applicants; obtain all of the necessary documentation to make the loan decision; determine collateral needs and payment plans for members applying for loans.
• Review and evaluate loan applications to determine creditworthiness and compliance with the Credit Union’s policies and procedures.
• Process loan applications accurately, ensuring all required documentation is collected, reviewed, and properly maintained.
• Provide personalized assistance to members by explaining loan terms, options, and repayment plans, ensuring a clear understanding of Credit Union products and services.
• Make loan decisions according to Credit Union policy and procedures and in compliance with federal and state laws.
• Establish the terms and conditions of an approved loan and review them with members.
• Project a professional and positive image of the Credit Union always.
• Analyze supporting loan documentation, including paystubs, credit reports, tax returns, etc. to make informed lending decisions.
• Provide clear and compliant communication regarding loan denials, ensuring members understand the reason for denials and any applicable next steps or alternatives.
• Address member inquiries or concerns promptly and professionally, ensuring a positive experience.
• Provide information to the members concerning the different types of loans. offered, the terms and interest rates, and the documentation needed to be considered for a loan.
• Complete loan applications over the phone and/or electronically.
• Monitor loan queue to ensure timely decision-making and processing, meeting service level agreements and member expectations.
• Meet production and quality goals related to loan processing and decision-making accuracy.
• Provide financial education to members in the importance of building and maintaining good credit.
• Refer borrower requests for loan extensions, refinances, or any changes to original loan terms as designated in policy and procedure.
• Implement new loan products and services in accordance with management instructions.
• Identify opportunities to cross-sell additional products and services to meet members’ financial needs.
• Achieve lending goals and maintain a high standard of service.
• Log in to the call center queue to answer member calls related to loan application inquiries, providing accurate and timely assistance.
• Assist branch operations staff as needed.
• Assist with following up with missing DMV titles
• Responsible for the quality and accuracy of all work performed.
• Stay updated on of Credit Union products, services, policies and procedures.
• Comply with all applicable laws, regulations, and Credit Union policies and procedures, and ensure compliance with all governing regulations, including but not limited to:
  Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Office of Foreign Assets Control (OFAC), Customer Identification Program (CIP), Truth-In Savings and Fair Credit Lending Practices.
• All other duties as assigned or requested by Loan Manager.
• This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Duties, responsibilities, and activities may change, or new ones may be assigned at any time with or without notice.

To perform this job successfully, an individual must be able to perform each essential job function satisfactorily. The requirements listed below are representative…