What are the responsibilities and job description for the Construction Loan Administrator position at Banterra Corp.?
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
- Bachelor’s degree in Business Administration, a related field, or a commensurate combination of education and experience required.
- Direct experience with commercial and residential real estate projects, loan documentation, appraisals, and inspections required.
MINIMUM REQUIREMENTS
- Demonstrable knowledge of construction principals, methods, materials, construction loan documentation and loan and disbursement systems.
- Strong critical-thinking skills and the ability to analyze potential project outcomes with the adaptability to redirect attention as needed to meet targets and deadlines.
- Confident decision-making abilities and the skill to use sound judgment about the timing of choices; particularly the ability to make informed, responsible decisions with limited information or under considerable amounts of stress.
- Excellent communication skills and the ability to communicate effectively, verbally and in writing, with internal and external customers at all levels.
- Ability to interpret various ratios and relationships inherent in common or specialized financial and data-driven reports.
- Ability to complete standard calculations and apply basic mathematical concepts in practical situations.
- A positive and proactive approach to work, demonstrating enthusiasm, adaptability, and the ability to maintain composure and professionalism in stressful or adverse conditions.
- Proficient computer literacy, including comfort with Microsoft systems and Office Suite.
- Intermediate typing skills to meet the needs of this position.
- Current driver’s license and reliable transportation with appropriate insurance coverage; additionally, the ability to drive occasionally in the course of performing assigned duties and responsibilities.
- The ability to work with minimal or no supervision.
ADDITIONAL QUALIFICATIONS
- Relevant industry certifications preferred.
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.
