Writing a good job description is a critical piece of the hiring puzzle and finding the best performers for your organization. As a recruiter or hiring manager, you don’t time in your day to be wasted scanning various resumes of people who are unqualified for the position, or who didn’t fully understand the job requirements. A well-written position description enables you to weed out unqualified applicants and those who aren’t genuinely interested in becoming a member of your team. Taking the time up front to write a great posting before the resumes come flooding in will save you hours of time from not having to sort through mounds of unqualified applicants later. To help you write a good job description, we have included a Loan Officer job description sample below.
Loan Officer Job summary
You’ll be tasked with evaluating, denying, or authorizing loan application approval for businesses or individuals credit, real estate, or commercial loans. You will act as the primary liaison between our company and customers, and you will assist qualified applicants obtain loans. You will also advise approved applicants on payment methods and financial status of their loan. Additionally, you will verify and analyze loan application packages to determine eligibility, aid in disbursing funds, and discuss debt repayment options.
Loan Officer Job Responsibilities and Duties:
- Evaluate credit worthiness by processing loan documents and applications
- Determine all applicable metrics and set up debt payment plans
- Interview applicants to determine financial eligibility and feasibility of granting loans
- Communicate with clients to provide or request information
- Complete loan contract and counsel clients on restrictions and policies
- Justify approval or denial decisions and report on them
- Continually update working knowledge on types of loans and other financial products
- Create referral networks, cross-sell services and products to meet quotas, and suggest alternate channels
- Operate in compliance with regulations and laws and adhere to lending compliance guidelines
- Update and maintain all client account records
Loan Officer Skills and Qualifications
- Bachelor’s degree in finance, economics, or related field
- 3-5 years of progressive experience in loan operations
- Solid understanding of direct and indirect lending practices and products
- Customer satisfaction orientation and proficient sales competencies
- Ability to thrive in a goal-oriented environment
- Excellent interpersonal and communication skills
Since 1986, Nickleby Mortgage Company has been the leading privately held mortgage company in the Pacific Northwest. Our proven commitment to our customers and employees for more than forty years is evident across multiple markets. We combine the resources of large corporations with the accessibility of a small firm to create partnerships for lasting success and serve our customers’ needs. Our vision is to build on our decades of success by seeking new opportunities for growth while remaining true to our values and history.
What to Include in Your Loan Officer Job Description
When you are writing a Loan Officer job description, how do you know when you have included enough information? Is it crucial to provide salary details, or is that something to bring up at the interview? Where should keyword terms and phrases be placed to attract top talent on job boards and online postings? How many skills and requirements should be listed in the job description? These are all great questions you should consider before you start writing. At a minimum, make sure to include the following sections:
• Title and Summary – Make sure to include an accurate, clear, brief title to tell potential candidates exactly what work they will be performing. Then include one to two sentences summarizing the position, including the purpose and significance to the organization.
• Responsibilities – In this section, identify both general and major categories of the duties required to be successful in the role. If the position description is for a complex job, it is helpful to indicate the percentage of time each task will take. That will provide the applicant with an accurate depiction of a day in the role.
• Company Information – Emphasize and highlight your company culture. Prospective applicants will want to determine if your business is a good fit with their working style. For instance, if the candidate thrives off the energy of coworkers, but your company’s employees all work independently, then it may not be a good fit.
• SEO – Optimizing your job description for relevant keyword terms, phrases, and searches is vital to making sure it gets viewed. A good job description is not useful if no one sees it. Check with Google AdWords for relevant terms that job seekers in your industry will use, and make sure to include them in your post.
• Call to Action – This may seem obvious, but make sure to encourage the candidate to apply for the position. You will get more results. Use exciting action phrases, such as This opportunity will be filled quickly, so apply now! or Don’t wait to jumpstart your career – send us your resume today!
A precisely accurate Loan Officer job description ensures that any potential candidate viewing it can quickly determine the benefits of working for your organization.
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Writing Your Loan Officer Job Description: Dos and Don’ts
As needs increase, more and more job opportunities are generated in the private and public sectors. The result is that top candidates will be overwhelmed with multiple career postings from which to choose. However, writing a description tailored to attract the right talent and getting them to apply for your opening is possible. After you finish writing the position description, follow these simply dos and don’ts to ensure that it is correct.
• Do use factual information and a friendly style when writing the position description.
• Don’t base the posting on the interests, skills, and capabilities of a person.
• Do use a logical flow to describe responsibilities and duties.
• Do use simple sentence structures by eliminating unnecessary works that don’t contribute to essential details.
• Don’t write a step-by-step guide on perform in the role.
• Do be succinct and precise.
The more straightforward it is for job seekers to submit an application and get questions answered, the more likely you are to attract the best performers to join your team. The result is making your job of hiring the right person for a Loan Officer position easier when you post a clear position description.
Writing a Job Description Best Practices
- While the above is a great Loan Officer job description sample, there are circumstances when you won’t have an example to follow. We have listed some basic best practices for those instances, along with some helpful dos and don’ts to ensure that you write the posting correctly the first time, and save yourself the chore of sorting through stacks of unqualified candidates.
- Do provide specifics. You want to provide job seekers with details about the role, particularly how the position differs from others in the company.
- Don’t inflate requirements. Make a list of what you believe is necessary for success and then consider how many are absolute requirements.
- Don’t forget to include details of the day-to-day functions. Job seekers need to see the types of tasks that will fill their day. This is a priority for attracting the brightest and best performers.
- Do include information about your corporate culture. Clearly state policies, ethical standards, and values.
- Do send applicants a pre-interview letter describing your organization’s business. This can help screen job seekers who are not a good fit before investing valuable face-to-face time with them.
- Do determine a precise profile for the job. Identify specific skills, talents, and experiences required for success in the role.
- Don’t hire candidate simply because they may be willing to work for a lower salary. The cheapest labor can result in a very expensive mistake.
The Loan Officer job description sample above is a great example of a standout job description that can attract and retain the best performers for your organization. Investing in writing a good position description now turns into a solid return later when you add the freshest, brightest members to your team.