Loan Officer

BRIC Bank Inc.; Cordova; On-site; PHP 240,000 - 420,000; Full time

Job summary

BRIC Bank Inc. in Cebu seeks a diligent loan officer to assess applicants and gather financial data for loan considerations. You will explain loan options and collect necessary documents to support lending decisions.

Responsibilities include reviewing credit histories, evaluating creditworthiness, and ensuring compliance with lending guidelines. Strong customer service and accurate record-keeping are essential in this role.

Qualifications

• College graduate with clear understanding of lending basics.
• Experience in assessing financial information and credit reports.
• Knowledge of loan types and documentation requirements.

Responsibilities

• Meet with applicants to obtain information for loan applications and to answer questions about the process.
• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements and other financial information as enumerated in Bank's lending guidelines.
• Analyze applicants' credit worthiness by assessing factors in risk ratings: borrower character/credit history, capacity/cashflows, capital/equity.
• If qualified, submit recommendations with the compiled documents to appropriate approving authority.
• If loan is approved, prepare additional loan documents (promissory note, disclosure statement, mortgage/deed of assignment) and loan ledger.
• Before releasing funds, ensure documents are complete, mortgage registered, insurance sufficient, taxes updated, and originals kept in vault.
• Check borrower signature on documents against IDs presented.
• Ensure loan proceeds go to the right party and borrowers receive copies of disclosures and amortization schedules.
• Conduct post-validation 30 days after release and report fund utilization; report to Board if diversion occurs.
• Monitor and supervise collections of amortization and past due accounts.
• Make monthly reports: loan listings, loss provisions, maturity matches, RO PA, past due status, and releases.
• Review/update credit folders for collateral re-appraisal, insurances, real estate taxes, permits, ITR, and audited statements.
• Perform other duties as assigned.

Skills

Credit analysis

Customer service

Sales / cross-selling

Documentation & recordkeeping

Regulatory compliance

Financial statement interpretation

Education

College graduate

Job description

JOB PROFILE / REQUIREMENTS:

• At least college graduate
• Prior experience as a loan officer or in a related role is highly desirable.
• Ability to assess financial information, credit reports, and other documentation to evaluate loan applications.
• Ensuring accuracy in reviewing loan applications, financial documents, and compliance with regulations.
• Good customer service skills
• Ability to promote and sell loan products effectively
• Skills in managing and maintaining accurate records and handling sensitive financial information.
• Ability to interpret credit reports and financial statements to assess creditworthiness.
• Knowledge of various loan types (e.g., mortgages, personal loans, business loans) and their specific requirements.

KEY RESPONSIBILITIES:

• Meet with applicants to obtain information for loan applications and to answer questions about the process;
• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services;
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements and other financial information as enumerated in Bank's lending guidelines;
• Analyze applicants' credit worthiness by assessing the factors associating in risk ratings includes borrowers character / credit history, capacity /cashflows, capital/ equity and capital /deposit reciprocity to determine feasibility of granting loans;
• If applicant is qualified, submit recommendations to together with the complied documentations; appropriate approving authority
• If loan application is approved, prepare the additional loan documents such as promissory note, disclosure statement, mortgage loan or deed of assignment agreement and loan ledger, among others;
• Before releasing the loan proceeds, make certain that loan documentations are complete, mortgage is properly registered, insurance coverage is sufficient and endorsed in favor of the Bank, real estate taxes are updated and that the original copies of these documents are submitted to the Bank for safekeeping inside the vault;
• Check and validate the signature of the borrower on all loan documents against the valid government issued IDs presented;
• Ensure that proceeds of loan are released to the right person/party and the borrower has the copies of disclosure statement, amortization schedule, promissory note and real estate mortgage;
• Conduct post validation 30 days from loan release and submit fund utilization report to COO. In case of diversion of purpose, a report must be submitted to the Board of Directors for approval;
• Monitor and supervise the collections of loan amortization, past due accounts and items in litigation;
• Make monthly reports of the following: Loan listing, loan loss provision, maturity matching, List of ROPA, status of past due accounts, loan releases for the month and other related reports;
• Review and update credit folders for re-appraisal of collaterals, renewal of insurance policies and real estate tax payments, business permits, ITR and audited financial statements of the borrowers.
• Perform such other duties which may be assigned from time to time.