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Commercial Loan Review Officer Job Description

Job Descriptions December 29, 2013

Commercial loan workers specialize in the commercial sector of lending, and have a slightly different job description than the loan officer—though responsibilities may be similar or exactly the same. The job is not a managerial position and thus starts at $48,000 on average, according to the HR Certified Compensation Professionals report. An essential job of the loan review officer is analyzing the submitted commercial loan to endure compliance with state law and company policy, assuming he doesn’t work as a development officer in addition to a reviewer.

Oftentimes, developmental officers are so eager to pass clients through the screening process that they don’t maintain objectivity and may even over-qualify a consumer for a business loan, even though that consumer doesn’t have the credits or assets necessary to merit such a loan, or a hefty price. Of course, since this officer is not a manager, he or she typically reviews smaller loans of limited complexity. The major decisions are still decided upon by the commercial loan manager.

Duties of a Commercial Loan Officer

A commercial loan officer performs portfolio reviews and must consider all factors including risk, size, type of commercial loan and asset quality. The officer is also expected to maintain quality standards for credit score and confirm important information related to liens, repayment and collateral. Documentation is a must, since these are records that verify if the company is staying compliant with federal and state guidelines.

Other job descriptions for review officers include validating a ratings system, evaluating loans for an unexpected loss, and finding potential problems with loans that may contain errors or number discrepancies. The officer monitors the portfolio for diversification purposes, ensuring that there is fairness in lending—as well as a profit minded strategy. This isn’t charity work but business and senior officers are sometimes entrusted with reviewing responsibilities. Lastly, review officers may review appraisal files and other legal documents like deeds of trust, UCC filings, and financial statements.

The Skills You Need to Excel as a Commercial Loan Review Officer

This is a job that favors an experienced loan officer, one who may even be reaching out to a managerial position. After all, it’s not enough to approve the application. The review officer is also known as a contract or numbers expert; one capable of identifying trends, analyzing performance ratios and knows all legal precedents that may negate an application. Some loan review officers are qualified to the point that they can suggest changes for policies and other major problems.

A comprehensive understanding of finance and business is required to break into this field, even in a non-managerial role. You should start your career by earning a bachelor’s degree in finance and banking. Other skills that will come in handy are writing and speaking ability, reading, the ability to relate to people and communicate with a wide variety of workers and executives. Experience requirements may differ, though it is higher than a loan officer’s position, sometimes as long as ten years

What matters is that this job is available regardless of an economic downturn, and it does serve a good purpose since you are helping people start their dream business. Contact UMD or any colleges listed below to learn more about opportunities in the loan process.

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Searching Searching ...

Matching School Ads
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • 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
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
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • 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
1 Program(s) Found
  • Campus-based and online business programs include Entertainment Business (BS), Internet Marketing (BS), and Business Intelligence (MS)
  • Students will explore business concepts like marketing, global media management, and business technology and design
  • Courses designed to prepare students for a career in business and Career Development advisors available to all alumni
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average
  • Online Courses

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