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Chief Lending Officer Job Description

Job Descriptions December 27, 2013

Lending is serious business and companies are willing to pay top dollar for experienced and educated officers who can help with the lending industry. The managerial role is a challenging one, but available to those with the temperament and know-how. The salary for such a position is an impressive $186,000 according to Certified Compensation Professionals, based on summaries from HR departments. The chief lending officer is in charge of directing a company’s loan portfolio. He or she also develops policies and procedures that will benefit lending activities. This is part of preparing and “growing” the portfolio.

What Chief Lending Officers Do

When employers look for a lending officer, they want someone with proven experience, a solid education, and leadership potential. Since you would be applying for a managerial position, you are expected to have proven strategic leadership experience on your resume. Not in management alone, but in some aspect of banking and loans, such as loan production and credit experience. Managers are also expected to lead and direct loan officers, developing their skills.

In some respects, this is a job about the bottom line, profit and portfolio growth. Yet, it’s also a job that requires knowledge of credit structure and financial analysis. While the officers do the work, you are in charge of screening loan requests, mentoring staff, and overseeing client calls. Final decisions regarding a loan rest with you, even before submitting an application to the Loan Committee. Although the loan officer helps borrowers submit claims, the chief officer critiques the credit presentation. Your role is a complex one, as you seek to help the lender as well as the consumer with a number of issues.

As a leader, you design training programs and new lending products, which are what loan officers work with when negotiating with borrowers. Reviewing monthly, and quarterly reports, are part of the job description, as is ensuring that all policies and procedures are compliant with state law. Developing your staff and determining expectations will result in a quality team.

Educational Requirements and Preferred Experience

Education is paramount, especially at the executive level. Most applicants call attention to their bachelor’s degree and stick to related fields like finance, business or even marketing. Clearly, employers favor managers who have a master’s degree. Experience grabs attention, and 10-15 years of senior management banking experience would certainly put you in top consideration. This shows that you understand the fundamentals of management, and are also familiar with practices and procedures involved in the day-to-day aspect of this career field. You don’t require extra training, but can work with what the company gives you.

If you want a career change, it’s time to start thinking marketable skills and experience. Going back to school and earning a degree will help you to build a resume that catches the attention of employers and establishes you as a valuable part of any team. Attending college, at any age in life, is not a risk. It’s putting real effort into your career.

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5 Program(s) Found
  • Online degrees offered include BA in Accounting, BA in Business Administration, MBA, and more.
  • Business students may be eligible for scholarships such as the Entrepreneurship Scholarship.
  • Courses help students develop knowledge of marketing, accounting, economic principles, and financial management.
  • Business Administration students can specialize in areas such as Entrepreneurship, Finance, and Project Management.
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
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  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
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  • Courses are designed to teach practical business solutions, with a career-focused curriculum.
  • Students can study in areas such as business, applied management, and business administration.
  • Experienced professionals equip students with a working knowledge of marketing, financing, accounting, and sales.
  • Students who have graduated high school in or before 2015 are eligible to apply.
  • Online Courses
5 Program(s) Found
  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
Show more [+]
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
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  • Transferable Credits
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  • Ranked among top Regional Universities in the South by U.S. News and World Report in 2015.
  • Ranked 37th among the Best Colleges for Veterans by U.S. News and World Report in 2015.
  • Stands as the largest private, nonprofit university in the nation with 100,000+ students.
  • Offers over 230 programs online, from the certificate to the doctoral level.
  • Has a student-faculty ratio of 25:1, and 42.3% of its classes have fewer than 20 students.
Show more [+]
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits

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