Senior Specialist, Construction Disbursement

Job description : GENERAL SUMMARY

Under supervision of the Construction Loan Administrator Supervisor & Officer this position is responsible for construction loans from initial set up to full repayment; enters budget and new loan data entry into CLCS; reviews and monitors construction loan data entry for completeness and accuracy. Exercises good judgment within defined procedures and practices to determine appropriate action.

ESSENTIAL FUNCTIONS

• Reviews the approval terms of the Credit Committee Report (CCR) and essential documentation ensuring the accuracy of the budget.
• Enters new construction loans in the CLCS system. Sets up loan budget; reviews data input for accuracy and ensures the new loan set up line item budgets are in accordance with approval.
• Sets up construction loan disbursement files.
• Ensures the timely process of all construction loan disbursements which requires reviewing, analyzing and disbursing construction loan draws per guidelines and obtaining approval from the relationship manager in accordance with approval guidelines. Obtains title insurance date down / change orders for each draw request when required. Enters draw request on CLCS;
• Orders third party inspection reports, balances borrowers construction loan budget against bank records and meets borrowers time frame to ensure the highest level of customer service.
• Ensures receipt and approval of inspection and title date down reports for all voucher disbursement requests. Schedules all disbursement transactions and inputs requests into the CLCS system. Prepares and presents disbursement documentation from the system; monitors and balances disbursement report.
• Monitors interest reserve adequacy on all accounts; assures accurate billing if and when interest reserves are exhausted.
• Monitor use of borrowers soft cost funds and disbursing funds on borrowers behalf.
• Calculates the disbursement draw funding to the specific line item in the budget. Identifies insufficient funds in the budget line item as well as the overall budget and obtain approval for budget change request.
• Obtains Sales Agreements; Prepares demands for unit sales and enters pay-downs of units sold on the CLCS system and releases lien on sold units.
• Issues accurate pay off demands and ensures all fees, principal and interest are properly calculated and collected.
• Maintains current property and general liability insurance for all files.
• Ensures that all disbursement documentation is scanned and saved in the imaging system.
• Interfaces with relationship managers, title companies, appraisal department, construction services, accounting and etc. to manage the servicing of loan portfolio.
• Provides excellent customer service to clients. Responds to general inquiries on loan status.
• Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities. Follows all Bank policies and procedures, compliance regulations, and completes all required annual job-specific training. May be asked to coach, mentor, or train others and teach coursework as subject matter expert.
• Process all other miscellaneous activities, projects, and assignments as requested.

OTHER DETAILS

Pay determined based on job-related knowledge, skills, experience, and location.

Qualifications : QUALIFICATIONS

Why is This a Great Opportunity :

Strong benefits and employee well-being support Company offers a comprehensive benefits package including medical, dental, vision, life and disability insurance, flexible spending accounts or health savings accounts, paid time off (vacation, sick, holiday), and an Employee Assistance Program (EAP). They also run a Well-Being Program that rewards healthy habits and offers medical premium discounts to participants underlining the banks commitment to health and wellness.

Commitment to career growth, learning, and development The bank invests in training and career development for its staff, including leadership and management training as well as opportunities for inter-department transfers and online learning. They have formal programs for newly promoted supervisors / managers and senior leaders (e.g., Emerging Leadership I / II) to help employees grow professionally and succeed in higher roles.

Inclusive, supportive, and respectful culture Company emphasizes respect, mindfulness, transparency valuing diversity of backgrounds and experiences among team members.

Recognized as an employer of choice

The Bank has been honored as a U.S. Best-in-Class Employer by Gallagher for consecutive years