What does a Business Banking Officer do?
Commercial loan officers work for credit unions, commercial banks, mortgage companies, and other financial institutions and are the decision-makers who apply critical thinking skills during application review. They examine loan applications and verify all financial information applicants provide to determine whether they can meet their monthly loan payments on time. They recommend approval or disapproval of the loan application based on the applicant’s information and relevant information they uncover during the application process.
Because they are supervisors, commercial loan officers also manage loan administrators and double-check their paperwork for approval or disapproval of a requested loan. Upon acceptance and disbursement of money, loan officers ensure repayments arrive in a timely fashion, which may require follow-up phone calls and outreach to borrowers to ensure they are paying off their line of credit. When payments have defaulted regularly, a loan officer may report the borrower to a collection agent. Commercial loan officers need a bachelor's degree in finance and receive on-the-job training from their employer.
- Participate in the underwriting and documentation of credit.
- Successfully manage and develop our commercial loan portfolio.
- Manage a portfolio of loans and may coordinate collection efforts.
- Responsible for developing new business and manage existing portfolio.
- Ensure all loan documents are complete, accurate and in accordance with policy.
- Build strong relationships with customers and members while maintain, an active calling program prospecting new clients.
- Serve as point of contact for client regarding routine daily administration.
- Provide support to all bank lending units by administering to all commercial loan transactions for clients.
- Enter a high volume of new loan bookings, payments and advances to loan operating system.
- Administer the collection process either internally or with bank counsel complying with all laws and regulations.
- Prepare and monitor the title work to be processed at the department of revenue.
- Make a minimum of 25 sales calls a week ' including in-person calls at a client or prospects place of business.
- Initiate internal discussions with senior management on areas of success or improvement within the assigned market.
- Serve prospects and customers through a consultative selling, trusted advisor role to assist them in recognizing and tackling business opportunities and risks, and helping them accomplish their goals while maximizing our effectiveness.
- Bachelor's Degree in business, finance, or business administration.
- Demonstrate tenacity and drive in solving customer issues.
- Well-developed collaboration and critical thinking skills.
- Fluent in products and services.
- Advanced banking experience.
- Is a professional at all times.
- A dedicated problem solver and leader.
- Can prioritize tasks for time management needs.
- Experience with software and systems such as C and spreadsheets.
- Familiar with balance sheets, ratios, and computing.
- Will display a positive attitude at all times with the goal of onboarding and renewing clients.
Business Banking Officer Salaries near Hong Kong
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Business Banking Officer Career Path
Learn how to become a Business Banking Officer, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Business Banking Officer Insights
“I got a chance to work with other amazing officers and everyone is generally really nice”
“Low salary increment it is not sufficient”
“Annual salary increases are not good”
“Good good good good good”
“Not good for career growth and waste of time”
“Good work and life balance”
“Good work life balance and I enjoyed it”
“Good but getting promotion is rare.”
Business Banking Officer Interviews
Frequently asked questions about the role and responsibilities of a Business Banking Officer
- Loan Officer
- Underwriting Consultant
- Loan Processor