Loan Officer Duties & Responsibilities

The role and function of a Loan Officer includes the following duties and responsibilities:

  • Contact companies or people to ask if they need a loan
  • Explain different types of loans and the terms of each one to applicants
  • Analyze and evaluate the applicant’s finances to decide if the applicant should get the loan
  • Meet with loan applicants to gather personal information and answer questions
  • Obtain and verify financial information, such as the applicant’s credit rating and income level
  • Approve loan applications or refer them to management for a decision

Note that this is not an exhaustive list of Loan Officer duties and responsibilities. Job functions for specific Loan Officer roles may vary, depending on the industry and type of employer.

Related

Loan Officer Job description

Loan Officer Salary in Nigeria

Loan Officer Interview questions

Loan Officer Cover letter

Loan Officer CV

Loan Officer Jobs in Nigeria

Similar job descriptions

Stockbroker job description

Wealth Manager job description

Investment Analyst job description

Credit Analyst job description

Financial Consultant job description

Banker job description

Equity Research Associate job description

Financial Planner job description

Finance Officer job description

Teller job description

Financial Advisor job description

Financial Analyst job description

Portfolio Manager job description

Retail Banker job description

Transfer Agent job description

Pension Scheme Manager job description

Credit Manager job description

Risk Analyst job description

Cost Analyst job description

Financial Controller job description