Loan Officer

GRAND CANYON UNIVERSITY; Boise (ID); On-site; USD 50,000 - 70,000; Full time

Job summary

GRAND CANYON UNIVERSITY is seeking a Loan Officer to assist individuals in taking out loans. The role involves reviewing financial documents and assessing clients' creditworthiness to approve or reject loans.

Ideal candidates should have a bachelor’s degree in finance or a related field, alongside strong client service skills and knowledge of financial regulations. This position offers the opportunity to educate clients on loan options and ensure compliance with banking standards.

Qualifications

• Relevant bachelor’s degree typically required.
• Entry-level positions may require banking or sales experience.
• Certifications such as Mortgage Loan Originator (MLO) may be necessary.

Responsibilities

• Review and verify loan applications and financial documents.
• Guide clients through loan options, terms, and application processes.
• Ensure compliance with federal and state regulations.

Skills

Client education

Verification of financial information

Loan assessment

Regulatory compliance

Financial knowledge

Education

Bachelor’s degree in finance or related field

High school diploma

Job description

This role assists individuals who need to take out a loan. A loan officer reviews financial information and evaluates the creditworthiness of the loan applicant. They may either approve the loan or reject the application. Larger or more complex loans may require referral to management for an approval decision.

What Is a Loan Officer?

A loan officer facilitates the process of taking out a loan, thereby enabling people and businesses to work toward their goals.

What Does a Loan Officer Do?

The primary responsibility is to determine if loan applicants qualify for a loan. They use underwriting, reviewing and verifying financial documents, and work in both customer service and sales capacities guiding applicants through loan terms, compiling documents, and applying. Their job responsibilities typically include the following:

• Acquiring information from loan applicants and advising them of financial document requirements
• Client education: explaining loan options and terms, answering questions
• Verification: verifying accuracy of client-provided financial information
• Assessing the client’s ability to repay the loan based on financial information
• Compliance: ensuring loan agreements comply with federal and state regulations
• Loan decisions: issuing approval or rejection of a loan, or referring to management for an upper-level decision
• Ongoing education: maintaining knowledge of financial principles, banking rules, and lending products

What Are the Education Requirements and Experience Needed?

Employers set their own requirements, typically including a relevant bachelor’s degree and on-the-job training. The process usually starts with a high school diploma, preference for business‑related coursework, followed by a bachelor’s degree in finance, economics, or a related field. Some roles may require a master’s degree. Entry‑level positions may be available for candidates with banking, sales or customer service experience.

Professional certifications may be required for specialized areas such as mortgages. Those specializing in mortgages must hold a Mortgage Loan Originator (MLO) license, and may also pursue the Certified Mortgage Banker (CMB) certification or other state‑specific certifications.