Credit Officer Job Description
The Credit Officer plays a crucial role in the lending process of our organization. You will review loan applications, assess the creditworthiness of applicants, and determine the appropriate loan amount and terms. Additionally, you will collaborate with internal stakeholders such as underwriters, loan processors, and collection teams to ensure efficient loan processing and compliance with policies and regulations.
Responsibilities
- Evaluate loan applications, analyzing financial data and credit histories
- Assess the creditworthiness of borrowers and determine loan eligibility
- Calculate loan amounts, interest rates, and repayment terms based on risk assessment
- Review and verify documentation to ensure accuracy and compliance
- Collaborate with underwriters, loan processors, and collection teams to expedite loan processing
- Provide recommendations to management regarding loan approvals and appropriate terms
- Stay updated on lending regulations and policies to ensure compliance
- Maintain accurate records of loan applications and decisions
Qualifications
- Bachelor's degree in Finance, Economics, or related field
- Proven work experience as a Credit Officer or similar role
- In-depth understanding of lending policies, regulations, and best practices
- Strong analytical and risk assessment skills
- Excellent attention to detail and accuracy
- Ability to work collaboratively and communicate effectively with internal stakeholders
- Proficient in using financial analysis software and MS Office
Skills
- Financial analysis
- Loan underwriting
- Risk assessment
- Credit evaluation
- Documentation review
- Compliance management
- Attention to detail
- Analytical thinking
- Interpersonal skills
- Communication