Retail Loan Officer

Job Description

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5 billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

The Retail Loan Officer (RLO) proactively and consistently solicits home equity, home equity lines of credit, and residential mortgage sales through the development of new customer relationships or the enhancement of existing relationships within an assigned First American Bank territory, and from branch mortgage referrals. The RLO will collect and analyze prospective borrower’s financial information and credit data to provide guidance on simple and complex loan structures as solutions to their financing objectives.

DUTIES & RESPONSIBILITIES:

New Business Development:

• Develop and maintain successful relationships with business referral sources, both existing and prospective, through marketing, cold-calling, prospecting, and networking activities. This includes mortgage referrals coming from the branch network.
• Call on the existing customers in an assigned territory seeking home equity loans, home equity lines of credit, and mortgages.
• Conduct meetings to determine customer financing objectives and advise customers on retail loan products. Present appropriate First American Bank products and programs while explaining guidelines.
• Identify appropriate opportunities to sell additional products, resulting in a comprehensive banking relationship.
• Work with assigned branch(es) to develop and maintain successful relationships with staff in their assigned area.
• Meet established loan production goals.
• Participate in community efforts to promote home ownership as well as other loan related topics.

Loan Application Process:

• Conduct meetings with prospective borrowers to analyze and review financial/credit data, pricing, policies, guidelines, and gather any additional required information.
• Ensure exceptional customer service by maintaining thorough knowledge of lending programs, policies, procedures, and regulatory requirements, demonstrating a commitment to professional ethics, and complying with all federal and state laws, rules, and regulations. Meet with customers as necessary during various stages of the loan process.
• Apprise customers of pricing, costs, and timelines as required.
• Collect required supporting loan documentation and provide complete packages to the Underwriting and Loan Processing teams.

Loan Management:

• Work with Mortgage Loan Coordinators and assigned underwriters to ensure that loan conditions are met.
• Partner with Mortgage Loan Coordinators with on-going communication to customer regarding loan status.
• Provide on-going updates to branch staff on incoming referrals.
• Exercise authority to challenge and make recommendations regarding an underwriting decision by presenting evidence and data to management to support the assessment.
• Provide accurate and up-to-date loan program/policy information to both external customers and internal business partners in accordance with First American Bank policies, procedures, training, and other reference tools and resources, as well as applicable federal and state law, rules, and regulations.

Professional Development:

• Attend and complete First American Bank required training curriculum.
• Maintain current and thorough knowledge of all lending programs, policies, procedures, and regulatory requirements.
• Conduct and complete additional assignments/projects as designated by management.

QUALIFICATIONS:

• High school diploma or equivalent required. Bachelor’s degree preferred.

• This position requires the individual to take loan applications and close loans.

• This position may require the employee to register and maintain registration with the Nationwide Mortgage Licensing System & Registry (NMLS).

• Minimum one year of retail and residential mortgage lending experience with a focus on generating self-sourced business.

• Must demonstrate an understanding of mortgage and retail loan products, processing, underwriting and closing procedures.

• Knowledge of conventional and/or government lending guidelines.

• Understanding of federal regulations governing Real Estate Lending.

• Must have the ability to analyze and comprehend complex financial data and provide financial alternatives.

• Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to tailor the message appropriately to the audience and situation effectively.

• Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.

• Maintain credibility through professional demeanor, appearance, and presence by modeling standards appropriate to our environment and industry.

• Maintain good working relationships with internal partners by exhibiting exemplary interpersonal skills, adopting a constructive, solutions-focused approach.

• Use sound professional judgment to balance the interests of the organization and customer, understanding and using available resources to mitigate risks.

• Cold calling sales ability, with assertive, positive, and persistent style.

• Proficiency with Microsoft O365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.

• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades.

• This position requires regular travel by car to various locations throughout the Bank's market.

• Occasional out-of-state travel may be required (Illinois, Wisconsin, Indiana, and Florida).

• Typical schedule is Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need.

• Punctuality is required to maintain First American Bank’s customer service standards.