The Construction Disbursement Associate I is responsible for the set up of the construction budget into CLCS, the review of construction loan data entry for completeness and accuracy and the disbursement of construction loan draws. Responsibilities Enter new construction loans in the CLCS system and set up appropriate budget. Perform 2nd review of data input for accuracy and ensures the new loan set up line item budgets are in accordance with the credit approval. Review the disbursement draw req... more details
Temp-Construction Disbursement Associate
LocationUS-CA-El Monte
Job ID
2024-11154
Category
Customer Service/Support
Position Type
Temporary
Introduction
Since 1973, East West Bank has served as a pathway to success. With over 120 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement.
Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.
Overview
The Construction Disbursement Associate I is responsible for the set up of the construction budget into CLCS, the review of construction loan data entry for completeness and accuracy and the disbursement of construction loan draws.
Responsibilities
Enter new construction loans in the CLCS system and set up appropriate budget.
Perform 2nd review of data input for accuracy and ensures the new loan set up line item budgets are in accordance with the credit approval.
Review the disbursement draw request to the specific line item in the budget ensuring funding within the budget. Obtain approval for budget change request line item
Process construction loan disbursements per guidelines and proper approval from the relationship manager in accordance with approval guidelines.
Obtains title insurance date down/change orders for each draw request when required.
Orders third party inspection reports, balances borrower’s construction loan budget against bank records
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
Monitor use of borrower’s soft cost funds and disbursing funds on borrower’s behalf.
Maintain current property and general liability insurance for all files.
Ensure that all disbursement documentation is scanned and saved in the imaging system.
Interface with relationship managers, title companies, appraisal department, construction services, accounting and etc. to manage the servicing of loan portfolio.
Provide excellent customer service to clients. Responds to general inquiries on loan status.
Process all other miscellaneous activities as requested
Qualifications
Associate Degree preferred, or equivalent work related experience
Experience 2 or more years of experience in commercial real estate construction loan administration.
Demonstrated ability to administer a portfolio of complex commercial real estate construction loans including participation loans; Strong technical expertise in construction loan administration functions; Considerable knowledge of commercial real estate construction financing including multi-phased construction and multiple collateral properties; Experience in commercial lending terminology, commercial loan practices and requirements, loan servicing, loan documentation and legal and documentation compliance; Considerable knowledge of construction finance, accounting and data systems.
Skills/Ability: Ability to work in a fast pace environment while maintaining a high level of accuracy; Ability to work on multiple projects with the flexibility for changing priorities; Excellent analytical, problem-solving and organizational skills; Excellent communication skills; Strong work habits, attention to detail and teamwork. Strong computer skills including Microsoft Office (MS Word, Excel, Outlook), construction budget and disbursement programs or other compatible programs. Use of CLCS construction system a plus.
Compensation
The base pay range for this position is USD $22.00/Hr. - USD $32.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.
East West Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other legally protected status. Reasonable accommodations for disability are provided to applicants and employees in accordance with applicable law.
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