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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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Showing schools in your area

5 Program(s) Found
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 87% of Liberty University students receive some form of financial aid
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
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  • Transferable Credits
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  • Topped the list as Best Online Bachelor’s Program in Virginia by U.S. News & World Report in 2019.
  • Regent is ranked among Top National Universities by U.S. News & World Report, 2019.
  • Flexible online, on-campus and evening courses offered in 135 areas of study, including Business, Nursing, Psychology, & more.
  • Regent is recognized among Top #10 Military Friendly Schools by Military Friendly®, 2019.
  • 88% of Regent University students receive financial aid, with $24 million awarded in institutional scholarships & aid in 2017-18.
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  • Online Courses
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  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Hallmark University has a modern approach to business education. Our students are "hired" on day one to a mock company and live out their education as if on the job.
  • Students also gain valuable work experience having gone through real case studies from Fortune 100 companies.
  • By utilizing compressed, objective-driven courses, you can complete your education in nearly half the time of a similar program at a traditional college or university.
  • Each of our courses are designed to include scenario-based activities. You get to practice what you learn so you're ready for the challenges you will face when you graduate.
  • Our graduates enter the workforce with experience employers desire in addition to a credible degree.
  • Don't settle for learning in large lecture halls. Get the attention needed to succeed.
  • Online Courses

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