Commercial Lender Onboarding Checklist

Commercial Lender Onboarding Process

Are you looking for help setting up a staff orientation process so that when your new Commercial Lender starts their role, they can learn about their responsibilities and your company as quickly as possible? Whether you’re keen to use buddy onboarding, want to automate your Banking onboarding experience or just need an onboarding checklist for your new Commercial Lender, you’re in the right place. We’ve put together a sample Commercial Lender onboarding checklist below and have created onboarding templates & resources to help.

Commercial Lender Onboarding Checklist

1. Introduction to the company: The new commercial lender should be provided with a comprehensive introduction to the company, including its history, mission, values, and organizational structure. This task is typically performed by the HR department or a designated onboarding specialist.

2. Familiarization with company policies and procedures: The commercial lender should be given a thorough overview of the company’s policies and procedures, including those related to lending practices, risk management, compliance, and ethical guidelines. This task is usually performed by the compliance department or a senior lending officer.

3. Training on lending software and systems: The new commercial lender should receive training on the specific software and systems used by the company for loan origination, underwriting, and portfolio management. This task is typically performed by the IT department or a designated trainer.

4. Introduction to the lending team: The commercial lender should be introduced to their colleagues in the lending department, including loan officers, credit analysts, and support staff. This task is usually performed by the lending department manager or a designated team member.

5. Shadowing experienced lenders: The new commercial lender should have the opportunity to shadow experienced lenders to observe their day-to-day activities, learn best practices, and gain practical insights into the lending process. This task is typically arranged by the lending department manager or a designated mentor.

6. Review of loan portfolio: The commercial lender should be provided with a comprehensive review of the company’s loan portfolio, including an analysis of existing loans, their performance, and any potential risks or issues. This task is usually performed by the credit administration department or a senior lending officer.

7. Introduction to key clients and referral sources: The new commercial lender should be introduced to key clients and referral sources, allowing them to establish relationships and understand the company’s existing customer base. This task is typically performed by the lending department manager or a designated relationship manager.

8. Training on credit analysis and underwriting: The commercial lender should receive training on credit analysis and underwriting techniques, including financial statement analysis, risk assessment, and loan structuring. This task is usually performed by the credit analysis department or a designated trainer.

9. Familiarization with regulatory requirements: The new commercial lender should be educated on the regulatory requirements and guidelines governing commercial lending, including those related to anti-money laundering, consumer protection, and fair lending practices. This task is typically performed by the compliance department or a designated trainer.

10. Introduction to loan committees and approval processes: The commercial lender should be introduced to the company’s loan committees and approval processes, understanding the decision-making hierarchy and the criteria used for loan approvals. This task is usually performed by the lending department manager or a designated loan committee member.

11. Review of loan documentation and closing procedures: The new commercial lender should receive training on loan documentation requirements and closing procedures, ensuring they understand the necessary paperwork and legal aspects of loan transactions. This task is typically performed by the loan operations department or a designated trainer.

12. Introduction to risk management practices: The commercial lender should be familiarized with the company’s risk management practices, including loan monitoring, early warning systems, and strategies for mitigating credit risk. This task is usually performed by the risk management department or a designated risk officer.

13. Training on customer relationship management (CRM) software: The new commercial lender should receive training on the company’s CRM software, enabling them to effectively manage customer relationships, track interactions, and monitor sales opportunities. This task is typically performed by the IT department or a designated trainer.

14. Ongoing professional development opportunities: The commercial lender should be informed about the company’s commitment to ongoing professional development and provided with information on training programs, industry conferences, and certifications relevant to their role. This task is typically performed by the HR department or a designated training coordinator.

15. Performance expectations and goal setting: The new commercial lender should have a clear understanding of the company’s performance expectations and be involved in setting individual goals and objectives aligned with the company’s strategic priorities. This task is usually performed by the lending department manager or a designated supervisor

Setting Up Your Employee Onboarding Process

From reading through the items in the example Commercial Lender checklist above, you’ll now have an idea of how you can apply best practices to getting your new Commercial Lender up to speed and working well in your Banking team. Scroll up to see the link to our onboarding templates & resources or get in touch to discuss getting help setting up your systems and processes in this area.