Job Abstract

Summary: The Construction Lending Analyst will provide overall support to the Commercial Lending Teams and Commercial Loan Closing Team on the construction funding process including Plan & Cost engagements. The role also ensures adherence to Construction Lending policies and procedures. The Construction Lending Analyst will also assist the Loan Administration Manager with on-going monitoring of the construction loan portfolio.

Salary commensurate with experience, ranging from $60,000 to $75,000 annually. The exact compensation may vary based on relevant experience, skills, education, training, licensure and certifications, and location.

All applicants must attach a recent resume. This is NOT an entry level or remote role.

Responsibilities:

• Work with Commercial Lending Teams to coordinate Plan & Cost review engagements with bank-approved engineers. Educate team members on the process.
• Maintain Construction Funding documentation folder.
• Assist Loan Administration Manager with collection of documentation requirements for Construction funding and ensure that all required documents (Construction Budget, executed GC Contract, Building Permit(s), Building Loan Agreement, Builder’s Risk Insurance, Fee Debit Authorization) are consistent with loan approval and Bank construction requirements prior to funding.
• Coordinate and schedule monthly Site Inspections with Engineer for funding requests.
• Assist Loan Administration Manager with the review of Monthly Site Inspection Reports and determine if funding request is appropriate as per Site Inspection Report and that Retainage hold back conforms to Building Loan Agreement. Review loan balance and project budget for each funding request to ensure sufficient loan balance to complete project prior to forwarding to Relationship Manager for approval.
• Coordinate ordering of the Title Continuation Report with Attorney and/or Title Agency prior to funding. Ensure Title and Tax Continuations are up to date and obtain evidence of satisfaction for Audit file, as needed. Escalate any discrepancies and Title Lien issues to the Relationship Manager and Loan Administration Manager for further resolution.
• Review and perform monthly reconciliation of construction loan balance as reported in Fiserv. Work with Loan Operations to resolve any discrepancies.
• Review and provide monthly reporting of Construction Loans and Land Loans, line usage and project progress to Senior Management and Credit Risk as applicable.
• On-going monitoring of Builder’s Risk Insurance requirements and updated Permits to ensure compliance with Building Loan Agreement.
• Identify potential risks with construction progress and report to Commercial Lending Team, Senior Management and Credit Risk.
• Support the development of Construction lending policies and procedures for the Commercial Lending Teams.
• Upload Plan & Cost Review Report and Invoice to Sageworks and clearance of Workflow steps in Sageworks.
• Submit Plan & Cost review invoice to Accounting and Accounts Payable for payment processing.
• Upload construction advances, Title Continuation Report, Monthly Site Inspection Report and supporting documentation for Soft Cost funding to Sageworks.
• Coordinate Business Valuation and Field Exams with bank-approved vendors.
• Coordinate with Loan Operations fee collection for Site Inspection Invoices.

Qualifications:

• Minimum three years’ experience in Loan Operations, Construction funding or similar experience in Financial Services.
• Strong written and verbal analytical, interpersonal and communication skills.
• Strong organizational skills and attention to detail.
• Ability to prioritize and manage multiple tasks and meet time deadlines.
• Proficient in Microsoft Excel and Word.
• Knowledge of Sageworks or related platform preferred.
• Bachelor’s degree in Business Administration or Finance preferred.