Real Estate Construction Loan Administrator - (Remote)

6 Days Old

Overview
This is a remote role that may only be hired in the following location(s): NY, NJ, FL, TX, MA, IL, NC, AZ, VA, WA, GA The Real Estate Construction Administrator provides oversight and administration of construction and construction related projects and the construction loan draw process for all assigned loans at an advanced level of ability and complexity. Collaborates with internal stakeholders to understand project scope and any special requests. Reviews associated documentation, working with related parties to ensure accuracy, completeness, and compliance with Bank standards and regulations. Communicates with Borrowers and other related parties for accuracy and completeness of draw requests to ensure timely funding turnaround and to ensure a positive client experience. Facilitates the approval and funding of construction draws and provides independent evaluation of risk associated with construction loans. Provides guidance on construction loan processing and may serve in a leadership role on related initiatives through expertise.
Responsibilities
Process Oversight - Oversee the construction draw process phase for an assigned portfolio of loans of various size, type and complexity. Forms a full understanding of project scope, requests, and any special needs for all closed loans through collaboration with portfolio managers, commercial banking associates, borrowers, and other stakeholders. Reviews the risk associated with construction loans to provide guidance to associates involved in the process. Loan Documentation - Reviews all documentation associated with the construction loan to ensure accuracy, completeness, and compliance with Bank standards and regulations. Reviews Loan Agreement requirements for adherence during construction draw process to include benchmarks, covenants and limit thresholds. Reviews third party construction consultant reports and title endorsements to ensure accuracy and completeness. Communicates deciencies to the appropriate parties. Collaborate with portfolio managers on obtaining construction close-out documents as outlined in the Loan Agreement. Maintain project Budget and loan information within Built software for accurate reporting. Maintain construction draw folders to ensure accuracy and completeness as set forth in the Bank's Construction Credit Standards. Business Support - Assist management with additional tasks related to the construction loan process, including involvement in complex transactions. Monitors and reports on daily activities to aid leadership awareness of results. Facilitates an ecient and eective workow through process and policy recommendations. Provides expert direction to activities and less experienced associates. Finance Management - Works closely with Deal Team and Closing Team during Pre-Close phase to obtain and reconcile all pre-paid Equity. Onboard newly closed construction projects into Built software for monitoring. Maintain project and budget within Built software through construction phase to ensure balancing and reconciliation of all project costs and funding sources. Ensure validity of financial information in Built against loan system of record. Monitors all funding requests and ensures funding is approved within Bank guidelines and policy.
Qualifications
Bachelor's Degree and 0 years of experience in Loan documentation prep, review and/or loan processing. Basic financial reporting OR High School Diploma or GED and 1 years of experience in Loan documentation prep, review and/or loan processing. Basic financial reporting Preferred: Bachelor's Degree 2 years Financial Services, Commercial Construction Loan and Construction Loan Disbursement Large Balance Commercial Real Estate, Bridge and Construction Loans Healthcare, Middle Market Banking Tenant Improvement/Leasing Commissions Built, Loan IQ software Experience with budgets of various complexity and general accounting background. Ability to work in a fast-paced environment and manage tight SLA deadlines. Successful in building relationship with borrowers, third party vendors, team-members and internal partners. Intermediate Excel experience Strong customer service skills The hourly pay for this position is generally between $33.65 per hour and $40.86 per hour. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment. Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.
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Location:
Boston, MA, United States
Category:
Engineering

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