Lending Officer conducts lending activities for an assigned market or geographic area. Develops a pipeline of customers through referrals, inquiries, and outreach. Being a Lending Officer performs a due diligence review of potential borrowers, including a risk and financial analysis. Structures loan proposals, prepares credit memos, and presents to loan committee for approval. Additionally, Lending Officer may manage a portfolio of existing loans, including reviewing financial reporting, monitoring compliance with loan terms, and handling loan modifications or workouts. Ensures adherence to regulations, bank credit policies, and procedures. Typically requires a bachelor's degree. Typically reports to a manager. The Lending Officer work is closely managed. Works on projects/matters of limited complexity in a support role. To be a Lending Officer typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Reports to: Consumer Lending Compliance Manager
Functions Supervised: None
Primary Functions: Lead Consumer Lending business unit initiatives to improve productivity, efficiency, and compliance in internal processes. Conduct required enterprise risk assessments, business continuity planning, compliance research and guidance, and regulatory and financial reporting.
Duties and Responsibilities:
Education: Bachelor's degree in legal studies, business, finance, or related field expected. Advance degrees in law, business and/or other applicable professional compliance related certifications preferred (e.g., Juris Doctorate, NAFCU Certified Compliance Officer; Credit Union Compliance Expert).
Creditable Experience in Lieu of Education: A minimum of five years of applicable experience in a heavily regulated industry. Demonstrated understanding of consumer and credit card lending, collections, and servicing including knowledge of applicable laws and regulations, or equivalent experience with a credit union or other financial institution.
Experience/Skills: Positive people skills are required. Candidates must have experience acceptable to management in consumer and credit card lending, collections, and servicing fields. Must possess exceptional verbal and written communication skills. Applicants must be capable of exercising independent judgment regarding significant changes in the business unit and must be capable of operating with limited managerial oversight. Applicants must have experience reviewing and understanding rules and regulations as they apply to financial institutions. Applicants must have an acceptable and demonstrated ability to be detail orientated for review of both system and non-system driven processes.
Tenure: Categories will be determined by the candidate's education and/or experience. Advancement requires management recommendation and will be based on the candidate's performance and/or certifications.
Consumer Lending Compliance Officer I (Category 09): $63,233 - $101,804 annuallyConsumer Lending Compliance Officer II (Category 08): $72,717 - $119,983 annuallyConsumer Lending Compliance Officer III (Category 07): $82,171 - $137,981 annually
Starting base salary will be determined based on candidate experience, qualifications, education, and local or state wage requirements, if applicable and will fall within the range provided above.
In accordance with our Salary Administration policy, new hire base salaries generally fall within the minimum to midpoint of the listed range.
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