Construction Loan Specialist (HYBRID-Fredericksburg, VA)
New Today
The Construction Loan Specialist independently manages construction loan facilities from origination through payoff or rollover, including the draw administration process, and opens and services related deposit accounts for a Commercial Real Estate construction portfolio. As an essential contributor to the success of the Wholesale Banking Line of Business, Team members also provide oversight for increasingly complex projects with sophisticated loan structures and budgets with assistance from the team leader. Teammates in this role directly interact with Commercial Real Estate clients, inspectors, and title agencies while collaborating with Wholesale Banking Relationship Managers, Credit Portfolio Managers, Wholesale Relationship Specialists, Loan Services, and other bank personnel to ensure successful completion of assigned projects.
Position Accountabilities
Reviews loan documents to ensure consistency with loan approval and Bank construction requirements.
Coordinates pre- and post-closing construction loan requirements with closing attorney, borrower, investors, and participants to validate them for adequacy and confirm ongoing compliance prior to loan settlement and/or advances.
Ensures up-front equity requirements have been met prior to hard cost funding.
Provides analysis and maintenance of loan budget and line-item reallocations to ensure project remains aligned with the approved costs and completion date.
Manages and responds to daily incoming client requests and inquiries in a timely and professional manner. Performs necessary research and maintenance to provide or facilitate solutions, and if applicable, logs and resolves customer complaints and dissatisfactions in accordance with Bank policies and procedures.
Executes and adheres to all federal and state regulations governing bank operations including BSA/AML requirements, as well as the Bank’s loan and deposit origination, documentation, and administration policies and procedures. Exercises discretion and ensures confidentiality of all customary and proprietary materials and data.
Opens, services, and maintains wholesale deposit accounts in adherence to state and federal regulations and Bank policies and procedures.
Prepares ticklers and tracks construction related covenant compliance data in the construction management system to support management reporting.
Directly engages project site inspections and coordinates with the assigned inspector to confirm timely delivery of properly detailed inspection reports which confirm a project remains on target with budget and completion date. Identifies unforeseen issues that may develop during construction and proactively works with manager, Relationship Manager, inspector, and borrower achieve resolution.
Understands and complies with state specific title requirements to maintain the Bank's lien priority. Addresses intervening liens and other matters of title that develop during the funding process in conjunction with title company, Relationship Manager, and borrower.
Identifies critical risks or project setbacks through careful analysis of title updates, draw back-up documentation, budget updates, and site inspections. Escalates issues to appropriate internal and line management for resolution and approval.
Participates in department-wide special projects and initiatives as needed.
Ensures loan budgets and project performance are appropriately maintained in the construction management system.
Understands and adheres to the Company’s risk and regulatory standards, policies, and controls in accordance with the Company’s Risk Appetite and appropriately escalates risk-related issues to management.
Promotes an environment that supports diversity, equity, inclusion, and belonging and reflects the Atlantic Union Bank brand and culture.
Maintains Atlantic Union Bank internal control standards, including timely implementation of internal and external audit or regulatory recommendations.
Completes all assigned training, including but not limited to compliance training, on or before the due date.
Completes other related duties as assigned.
Position Qualifications
High School Diploma or equivalent, College degree preferred
Minimum of 5 years proven experience in construction loan administration.
Minimum of 5 years in commercial banking industry
We are proud to be an Equal Employment Opportunity employer. We maintain a drug-free workplace.
- Location:
- Fredericksburg