1 Construction Administrator Job in Troy, MI
Commercial Alliance is Hiring a Construction Administrator Near Troy, MI
succeed with business members across six states. We are looking for an enthusiastic, self-motivated
professional to assist with Construction.
The Construction Administrator will be responsible for administering construction related aspects of the loan closing and construction funding process for all commercial construction loans. In addition, the Collateral Analyst will be responsible for verifying that environmental reports are ordered in accordance with approvals and reviewing those environmental reports for risk associated with the property. Responsible for ordering inspections on construction projects.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Ensure all required documentation related to the construction component of new loans is obtained prior to loan closing, including but not limited to construction and architect/engineer’s contracts, construction budgets, municipal approvals and permits, builders risk insurance, sworn statements and waivers and other documentation required by Policy and credit approval.
- Analyze various construction data and inspection reports, draw conclusions, and report findings. Identify inadequacies or missing documentation pertaining to construction loan closings, construction loan draw requests, and retainage/final draw requests.
- Evaluate and recommend approval or denial of requests for funding, report on the status of projects with respect to budget and timeliness for construction loan administration and risk management.
- Review reports prepared by outside consultants for compliance with requirements and prepare memos advising lending officers of consultant’s findings, disbursement of loan proceeds, or loan administration issues.
- Responsible for ordering and reviewing Title Updates from Title Companies and identifying and communicating issues for each construction draw request. Require and maintain adequate documentation (date downs, lien waivers, bonding over liens) to ensure loan is not adversely impacted during the construction process.
- Provide guidance on construction risk management procedures and support compliance with lending policies.
- Monitor compliance with Construction Loan Policies. Obtain and document proper approvals for waivers where applicable.
- Keep up to date with changes to loan policies, procedures and compliance rulings affecting real estate construction and administration and environmental rules and regulations.
- Ensure insurance requirements are met prior to closing a construction loan and throughout the construction period, including but not limited to ensuring appropriate Hazard Insurance is obtained at completion of the project.
- Develop a schedule to proactively track commercial projects under construction to ensure construction is progressing timely.
- Analyze all collaterals and ensure compliance to all documents and monitor values.
- Review all policy exceptions and material issues.
- Evaluate projects and ensure compliance to all budgets for contract services.
- Incumbent is required to comply with all applicable federal, state, local and industry related laws and regulations.
- Verify that all environmental reports are ordered for new and renewal deals or workout loans in the portfolio according to loan approvals.
- Review the environmental reports received and complete memo for the file and credit unions detailing finding in the reports. As part of the memorandum must be able to assess the risks associated with the property and any possible mitigants and effects on collateral values if applicable. Report those memos to the lead and participating credit unions and save to the system for the borrower.
- Order and review an inspection on new or renewal deals for properties that may due to age have deficiencies and assess the value to cure those deficiencies prior to loan closing to assess risk with overall value of collateral.
- Annually, work with system to engage all property inspections for the commercial real estate portfolio and review all inspections reports. The inspection reports must be saved to the system and any deficiencies noted must be reported to lender and liaison for memo to file and report to all participating credit unions.
- Written comprehension and expression
- Oral comprehension and expression
- Problem solving and decision-making skills are essential.
- Strong organizational, interpersonal communications and customer relation skills are required.
- Bachelor’s Degree
- Minimum 5-7 years’ experience in construction monitoring field
- Ability to handle contractors and speaking with municipalities.
- Monitoring of post-closing environmental due diligence
- Familiarity with standard construction forms and documents
- Knowledge of Michigan Construction Lien Law Act
- Knowledge regarding reviewing and interpreting contractor payment requests
Job Summary
Full Time
$76k-117k (estimate)
06/04/2024
06/29/2024
commercialalliance.biz
Troy, MI
<25
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The job skills required for Construction Administrator include Problem Solving, etc. Having related job skills and expertise will give you an advantage when applying to be a Construction Administrator. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Construction Administrator. Select any job title you are interested in and start to search job requirements.
The following is the career advancement route for Construction Administrator positions, which can be used as a reference in future career path planning. As a Construction Administrator, it can be promoted into senior positions as a Construction Coordinator IV that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Construction Administrator. You can explore the career advancement for a Construction Administrator below and select your interested title to get hiring information.
If you are interested in becoming a Construction Administrator, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become a Construction Administrator for your reference.
Step 1: Understand the job description and responsibilities of an Accountant.
Quotes from people on Construction Administrator job description and responsibilities
A construction administrator handles the operations and management side of construction projects.
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Construction administrators assist with all administrative aspects of construction projects from start to finish.
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They help the construction project manager ensure the project stays on track and meets quality standards.
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They assemble bid packages, oversee the subcontractor and vendor hiring process, and compile detailed on-site construction activity logs.
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Monitor an effective construction quality control program and ensure compliance to all construction regulations and prepare required documents and establish quality of all construction work for all contracts.
04/28/2022: Ann Arbor, MI
Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.
Career tips from people on Construction Administrator jobs
Most employers prefer several years of on-site construction experience.
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Get an entry-level construction job.
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Qualifications for a career as a construction administrator include at least a bachelor’s degree in engineering, construction science, or a related field.
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Additional credentials are optional, but organizations like the American Institute of Constructors and Construction Management Association of America offer accreditation programs.
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Aspiring construction administrators should have experience with contracts, scheduling, cost estimates, and project management.
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Step 3: View the best colleges and universities for Construction Administrator.
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