Construction Loan Administrator

Hourly pay range : $24.56 USD to $30.69 USD

SUMMARY

The Construction Loan Administrator contributes greatly to the integrity and efficiency of the construction loan process, identifying credit risks, ordering inspections, and analyzing draw requests to ensure compliance with approval terms. This administrator reconciles loan disbursements with budgets, handles daily administration tasks, and ensures projects are completed on time and within budget.

The ideal candidate for this role should possess strong analytical skills, attention to detail, and proficiency with construction loan management software. They should communicate effectively with internal and external parties and be adept in identifying risks through careful documentation analysis and site inspections.

This role significantly impacts the company by ensuring smooth operations and the financial integrity of construction projects. By reviewing loan disbursements and maintaining compliance, the Construction Loan Administrator helps mitigate potential losses and supports informed decision-making, contributing to the company's success and stability.

All employees are expected to protect the information and assets of the organization through heightened awareness of information security, cybersecurity, and risk management best practices, as well as complying with all applicable laws, regulations, and organizational policies.

ESSENTIAL DUTIES

• Review construction projects to identify potential credit risks and ensure processes are in place to mitigate those risks.
• Order and review inspections, title updates, subsequent surveys, and appraisals as needed.
• Analyze draw requests and ensure disbursements conform to the terms and conditions of approval and recommendations of the inspector's report.
• Reconcile construction loan disbursements against construction budgets, including change orders and site inspection results.
• Ensure all elements of the loan approval and Bank's Loan Policy are complied with and obtain necessary approvals in the absence thereof. Advise if items in the loan approval are insufficient such as needing a subordination of lease or additional guarantor do to entity structure.
• Handle the daily aspects of the construction administration pipeline, including processing and funding of draws.
• Ensure projects are completed on budget and in a timely manner by reviewing all relevant documentation.
• Minimize the organization's risk and potential losses in all projects by maintaining a 72-hour draw turn time and alerting management of material issues and / or deviations from policy and procedures.
• Utilize third-party construction loan management software to ensure draws are processed correctly, project completion percentages are accurate, and the amount advanced under the construction loan is in accordance with established policies, procedures, and guidelines.
• Regularly review, analyze, and process draw requests, budget reallocations, and collateral releases for commercial real estate and / or multi-family construction loans based on project completion. Ensure required information has been collected and submitted.
• Review requests to ensure funding of loan settlements and regular draw takedowns with the appropriate internal departments.
• Identify critical risks or project setbacks through careful analysis of submitted documentation, such as budget allocations, invoices, site inspections, and lien waivers.
• Review and monitor project plans, including budget spreadsheets, disbursement guidelines, draw request reviews, and equity letters.
• Ensure all loan disbursements are in accordance with the original credit approval and any subsequent deviations are approved by bank personnel with proper authority.
• Visit construction sites to document project completeness as necessary and / or directed.
• Report all audit findings as well as day-to-day occurrences within construction business lines.
• Prepare monthly construction reports tracking the progress of open construction loans and note any overfunding or potential risk of loss.
• Monitor insurance escrow and construction escrow accounts for disbursement activity and work with branches to ensure proper documentation is completed.
• Assume responsibility for additional projects and tasks as assigned.

EDUCATION & CERTIFICATIONS

MINIMUM REQUIREMENTS

ADDITIONAL QUALIFICATIONS

PHYSICAL DEMANDS AND WORK ENVIRONMENT

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions.

While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers; handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit; and reach with hands and arms. The employee must occasionally lift and / or move up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate.

NOTE

This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments.

All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently.

Some requirements may exclude individuals who pose a direct threat or significant risk to the health or safety of themselves or others.

The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an "at will" relationship.

The company is an Equal Opportunity Employer, drug-free workplace, and complies with ADA regulations and other laws / regulations as applicable.

Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Salary : $25 - $31