Loan Assistant

Summary Of Duties

The loan assistant position is one of the most challenging positions in the bank. The loan assistant is responsible for assisting with the total relationship of the customer. This may involve real estate, consumer and commercial loans as well as deposit relationships. Given the large volume of documentation and workflow, Loan Assistants must be highly organized. The position requires excellent people skills and multi-tasking abilities. Sufficient computer and other technical skills are a must. The Loan Assistant must be able to work under pressure without the customers sensing it.

Specific Duties

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Customer Interaction

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Loan Assistants are often the gateway to a customer's loan experience with the Bank. As such, Loan Assistants must exhibit a welcoming and professional demeanor. They should always reflect a willingness and desire to help meet the needs of the customers and fellow employees.

Loan Officer Interaction

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Loan Assistants are often recognized as an extension of the Loan Officer(s) to whom they are assigned. In some instances, a Loan Assistant is assigned to one specific Officer. However, typically, the Loan Assistant is assigned to a small group of Loan Officers. In any case, their first line of supervision and direction shall come from the Loan Officer(s) to which they are assigned.

Third Party Interaction

General Information Gathering

Customer information is necessary to assist the customer with both loan and deposit products. This requires asking questions to determine if the customer can be helped by the loan assistant rather than the Loan Officer or any other member of bank staff.

[Loan Application Process -- The process for handling of a loan application varies depending on the size and complexity of the loan application. Loan Officers often have varying styles and methods of handling loan applications received. Loan Assistants must be able to adjust to the style and method of the Loan Officer responsible for the loan decision.

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• Complete loan applications as necessary for making a proper credit decision. At times, Loan Assistants will interview applicants directly or over the phone. In other instances, the Loan Assistant will receive verbal or written guidance regarding information for a request. In each case, the Loan Assistant must be able to translate completely and accurately into a complete and accurate Loan Application form.
• An applicant's credit history is often a critical factor either through the credit bureau or direct inquiries. Most often, the credit investigation is performed through a Credit Reporting Agency such as Equifax or Trans Union. Frequently, the Loan Assistant is required to complete a credit bureau request.
• Various other documents are required to process a loan request. The requirements generally vary based on size and complexity of the loan and/or loan relationship of the applicant. Loan Assistants must be capable of following and completing Loan Documentation Checklists for all loan applications pre- and post-close.
• Often, loan applications are received that exceed a Loan Officer's direct lending authority. While under the guidance of the Loan Officer, Loan Assistants play a critical role in proper creation and dissemination for a loan approval package.
  
  

Loan Closings & Disbursements

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Loan Assistants must be proficient and efficient at handling loan closings and disbursing of loan proceeds. Along with professional and friendly people skills, the Loan Assistant must possess a thorough knowledge of and purpose for all required loan documents. They must be able to provide reasonable explanations to customers. Loan Assistants must have sufficient skills to ensure that all loan proceeds are disbursed as intended. All disbursement entries must be delivered to Loan Operations on the day the loan closes or no later th n the following day.

Loan Policy & Procedures Knowledge

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While the approving or servicing Loan Officer are ultimately held responsible for the success or failure of an individual loan or loan relationship, Loan Assistants play a major role in risk reduction and proper loan relationship monitoring and servicing. As such, Loan Assistant must familiarize themselves with Loan Policy, Loan Procedures and proper Loan Documentation requirements. While Loan Officers should provide Loan Assistants with guidance on all lending issues, the Loan Assistant should take every opportunity to further or reinforce their knowledge of their job duties.

Training and Knowledge Growth

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Loan Assistants are regularly assigned training. As with others within the bank, all assigned training must be completed on a timely basis. The Loan Assistant must demonstrate a good working knowledge of bank policies and procedures, as well as applicable regulatory requirements.

Responsibilities

[Loan Portfolio Servicing - Responsible for assisting lenders with collections, loan exceptions, contacting borrowers for financials and obtaining insurance when necessary. In general, the Loan Assistant will follow their designated Loan Officer's instructions with regards to actions needed to service active loan portfolios. Some of these activities include but are not limited to:

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• Placing collection calls
• Clearing of loan exceptions
• Gathering financial data
  
  

[General Responsibilities -- Other responsibilities outside of the primary job function may arise. For any additional responsibilities assigned, a job description for that responsibility should be requested and provided (if one is available). Where appropriate, these responsibilities should be handled as instructed with or witho

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