Construction Disbursement Officer

Responsibilities

• Review the CCR and loan agreement ensuring proper terms and budget are within the approved credit.
• Enter new construction loans in the CLCS system and set up appropriate budget for complex projects.
• Ensure the new loan set up line item budgets are in accordance with the credit approval and Construction Loan Agreement.
• Review the disbursement draw request to the specific line item in the budget ensuring funding within the budget.
• Perform 2nd review quality control of all loan set up in CLCS.
• Obtain approval for budget change request line item.
• Reconcile borrower’s construction loan budget to the bank’s records.
• Obtain title insurance date down/change orders for draw request.
• Order third party inspection reports, process invoicing and reconciliation.
• Track and follow up on receipt and approval of inspection and title date down reports.
• Maintain and monitor current property and general liability insurance for all files.
• Interface with relationship managers, title companies, appraisal department, construction services, accounting and etc.
• Obtain documentation for pending loan packages for Cost Review.
• Respond to internal inquiries on the above processes.

Qualifications

• Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work related experience.
• Minimum 8 years of work experience in commercial real estate construction loan Administration.
• Knowledge of complex construction finance projects with multiple phases.
• Experience with complex loan structured including Syndication & Bond.
• Thorough understanding of Construction Loan Agreement and its covenants and provisions relative to construction disbursement and budget.
• Thorough experience with collateral perfection and Title Policies.
• Construction Loan system experience required with CLCS knowledge preferred.
• Proficient in Microsoft Office with advance Excel skills preferred.
• Excellent written and verbal communication skills required.
• Good organizational, analytical and problem solving skills.
• Good leadership and project management experience required.
• Ability to handle multiple tasks with excellent attention to detail.
• Ability to organize and maintain a high volume work environment.
• Ability to adapt quickly to changes and perform in a fast paced environment.
• Ability to build effective relationships as needed to effectively address issues and obstacles.