FAQs
What is the main responsibility of a Commercial Loan Officer (C&I)?
The main responsibility of a Commercial Loan Officer (C&I) is to develop and service a wide variety of secured and unsecured loans or lines of credit, primarily involving significant amounts of money and important customers.
What qualifications are required for this position?
Candidates are required to have at least five years of commercial lending experience (including C&I and Commercial Real Estate), strong credit skills, familiarity with regulatory and compliance requirements, and the ability to review and evaluate documentation for risk.
What skills are essential for a Commercial Loan Officer (C&I)?
Essential skills include strong organizational, reasoning, and communication abilities, proficiency in PC applications like Word, Excel, and PowerPoint, and the capacity to establish and maintain effective working relationships.
What kind of experience is preferred for this role?
Ideal candidates will have a record of success in developing, maintaining, and closing new business, especially within the local market, along with a thorough understanding of bank operations and the credit process.
Are there specific duties related to customer interaction in this position?
Yes, the Commercial Loan Officer is expected to attend to customer needs by interviewing applicants to gather information about their businesses and determining loan risks, as well as providing financial advice and guidance to customers and prospective customers.
How does a Commercial Loan Officer make decisions on loans?
A Commercial Loan Officer makes decisions on loans and terms within established lending limits or makes recommendations to a superior based on the analysis of financial background data and documented risk assessments.
Is training or professional development encouraged in this role?
Yes, candidates are expected to update their job knowledge by participating in educational opportunities to stay informed about industry standards and practices.
What type of documentation experience is vital for this job?
Understanding and experience working with credit documentation is a must, as it is essential for evaluating loan applications and ensuring compliance with lending guidelines.
What is the expectation regarding multitasking in this role?
The role requires self-motivation and the ability to multitask effectively, balancing a demanding workload while meeting critical deadlines.
How does this position contribute to the overall business of the bank?
The Commercial Loan Officer plays a crucial role in business development by calling on potential or existing customers to secure new business opportunities and retaining existing clientele, thereby contributing to the bank's growth and profitability.