at Farmers State Bank in Elmwood, Illinois, United States
Job Description
Basic Function:
The position of loan officer is responsible for utilizing knowledge, training, and experience to assist the bank to solicit, originate, and facilitate the processing and closing of consumer and commercial transactions on behalf of our clients. This position must be organized and very detail-oriented, good with numbers and have excellent customer service skills.
Core Responsibilities:
- Solicits customer leads, prepares financing packages by processing, underwriting, and closing consumer and commercial loan transactions.
- Prepares transaction packages for committee approval.
- Seeks out additional information as necessary to complete a transaction such as appraisals, environmental reports, title reports, and due diligence reports.
- Manages their loan portfolio with needed contact with customers. Prepares and conducts annual reviews and updates customer financial information.
- Communicates with customers and other transaction stakeholders on progress and missing documentation and other information.
- Assists in the quality control of the asset portfolio along with internal reporting and compliance procedures.
- Assists in the preparation and tracking of the transaction pipeline.
- Assists in loan document reviews from application to final execution.
- Cross sells bank products and services.
- Other duties as assigned.
Essential Functions:
The Loan Officer’s responsibilities include, but are not limited to the following:
- Proactively develops new business through a formal sales calling program while managing existing relationships by proactively seeking additional business, promptly working future maturities, and participating in the annual review process to determine if additional lending needs are present.
- With each customer interaction in person and on the phone, seeks opportunities to deliver excellent customer service; troubleshoots and solves account problems; promotes all bank services; educates customers in using products to deepen relationships and satisfaction.
- Takes loan applications and interfaces with the customer/applicant to facilitate a complete loan application; communicates the loan decision to the customer/applicant; prepares credit analysis of loan opportunities and recommends appropriate action to Loan Committee’s consideration.
- Maintains excellent credit quality through careful monitoring of existing loans, tracks receipt of timely financial information, and verifies compliance with financial covenants; monitors loan grades based on customer financial performance as well as industry and other considerations.
- Assists in the development and implementation of systems, risk control, and policies and procedures in line with regulatory requirements, bank’s policies, and targets.
- Assumes leadership roles in community organizations; being visible at community events and serving as a good citizen within our community.
- Actively participates in professional growth in banking, lending and leadership.
- Participates in a work environment that promotes positive communication and teamwork, efficiency and productivity, strong internal communication, and compliance with Bank policies and procedures.
- Assists the compliance officer in preparing for audits and regulatory examinations and provides timely responses to examinations and audits. Assisting the compliance officer in development and implementation plans for correcting deficiencies noted in examinations and audits.
- Demonstrates the highest standards of personal and professional integrity, adheres to bank’s policies and procedures, and complies with applicable laws, government rules and regulations.
