Sr Construction Disbursement Administrator

About the role

Banc of California is seeking a Construction Disbursement Specialist to join our team. This position works directly and independently with various stakeholders to facilitate funding on complex construction loans throughout all stages.

Responsibilities

• Establish and verify the final Master Funding Ledger at loan closing, including all funding sources and uses utilizing construction budgets and loan closing statements.
• Review and approve initial Master Funding Ledgers prepared by REIG disbursement team members.
• Ensure project budgets are accurately set up through approved fund control companies.
• Facilitate initial post-closing meetings with REIG lending/disbursement team and borrower's project team.
• Conduct follow-up meetings as needed.
• Verify and balance all budget categories and funding sources, both initially and with each funding request.
• Coordinate fund control requests and project inspections.
• Prepare and monitor funding reports for management.
• Accurately complete funding packages, submit for approval, and disburse draws using the appropriate funding source.
• Approve funding packages prepared by REIG disbursement team members.
• Adequately document line-item transfers and increase transfers, ensuring the cost breakdown continues to balance and all changes are submitted for approval.
• Update the Master Funding Ledger regularly to reflect accurate and current construction progress and remaining available funds.
• Manage mechanic’s lien detection and resolution via interfaces with borrower, title officer, and lender.
• Order and review all applicable endorsements, including foundation and incremental increased coverage endorsements.
• Obtain rewrite title policies as applicable.
• Establish and maintain paper and electronic files for assigned construction projects in accordance with REIG and Bank policies and procedures.
• Periodically review/audit REIG construction files to ensure audit readiness.
• Process partial demands and re-conveyances for REIG subdivision projects.
• Complete error-free accounting work.
• Follow up for receipt and completion of all information in a timely manner.
• Complete special projects as assigned.

Requirements

• 3 to 5 years Construction Disbursement and Commercial Lending experience is required.
• SBA 7(a) experience preferred.
• College degree or equivalent experience is preferred.
• Ability to work in word, outlook, and excel.
• Strong knowledge of escrow, title, UCC, and lender due-diligence/verification processes.
• Strong knowledge of commercial loan processing, documentation, closing procedures, underwriting requirements, and terminology.
• Strong knowledge of the Construction Process and typical Disbursement requirements.
• Ability to manage multiple tasks/projects and deadlines simultaneously.
• Possess strong analytical skills.
• Be a self-starter and detail-oriented.
• High School diploma or equivalent required.

Qualifications

• High School diploma or equivalent required.

Skills

• Construction Disbursement and Commercial Lending experience.
• SBA 7(a) experience preferred.
• Strong knowledge of escrow, title, UCC, and lender due-diligence/verification processes.
• Strong knowledge of commercial loan processing, documentation, closing procedures, underwriting requirements, and terminology.
• Strong knowledge of the Construction Process and typical Disbursement requirements.
• Ability to manage multiple tasks/projects and deadlines simultaneously.
• Strong analytical skills.
• Self-starter and detail-oriented personality.

Benefits

• Financial Security: Eligible to participate in the company’s 401k plan which includes a company match and immediate vesting.
• Health & Well-Being: Comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA).
• Building & Supporting Your Family: Partnerships with providers offering adoption, surrogacy, and fertility assistance, as well as paid parental leave and family support solutions including care options for your family.
• Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off.
• Career Growth Opportunities: Tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.

Pay

The base salary ultimately offered is determined through a review of education, industry experience, training, knowledge, skills, abilities of the applicant in alignment with market data and other factors.

Schedule

N/A