Summary/Objectives: The Construction Loan Administrator will be responsible for assisting in the management of construction loan due diligence and processing draw requests related to single-family residential, commercial, multi-family, acquisition & development, and owner-occupied CRE and SBA 504 construction loans. This position will review credit approvals, coordinate preliminary construction documentation with the lending officer, assist in verifying equity documentation, and process draw request information documentation for accuracy and completeness. Further requirements ensure consistency in terms and conditions between all documentation, performing construction in progress inspection, working directly with suppliers, tradespeople, and contractors, and mastering the Bank’s construction platform while providing exceptional customer service.
Essential functions:
- Attend pre-construction meetings with lending staff, clients, and general contractors as needed.
- Review preliminary credit approval document for a specific structure, terms, and milestones to be tracked and advise production staff of possible issues.
- Assist production units with a review of construction contracts, construction loan documentation, and ancillary construction and loan documentation; assist the lending officer with validating equity contributions before closing and assist with loan closing.
- Record and track loan milestones and ticklers. Maintain updated information and tracking in the bank’s construction software platform to ensure accurate loan reporting and provide status updates to internal parties
- Balance construction loan weekly.
- Review borrower and/or General Contractor submitted draw packages, obtain any missing documentation or backup, and process/approve draws in the Bank’s construction software platform for construction loans of varying complexity.
- Review preliminary notices compared to payee listings to understand possible lien filings and budget issues, review change orders for impact on budget, and obtain approval for Bank.
- Order/Perform and review construction inspections for the inspector’s insights, recommendations, completion percentage, and fund accordingly or obtain the appropriate approval for deviations in the policy.
- Order date-down endorsements as needed or required during construction.
- Create and maintain draw files (paper/electronic).
- Ensure that draw request and funding SLAs from the pre-construction meeting are met
- Consult with the manager on complex issues to ensure proper risk management and adherence to Bank policy.
- Proficient in various types/structures of loan documentation
- SME in various types/structures of construction documentation.
- Actively participate in customer, community, and public relations activities to increase the bank’s visibility and enhance new business opportunities.
- Additional duties as assigned, as they relate to the position.
Competencies:
- Knowledgeable of bank policies, procedures, and safety regulations
- Adheres to local, state, and federal laws
- Attend training on bank/job-related topics
- Willing to work on other projects as necessary
- Detail oriented
- Candidate must be a people person
- Candidate must always act professionally
- Able to handle confidential information
- Proficient in Microsoft Suite (Word, Outlook, PowerPoint, and Excel)
- Ability to work both independently and as part of a team
- Computer savvy: able to learn new software quickly
- Self-motivated and persistent in following through and learning quickly
- Excellent communication skills – both verbal and written
- Problem solver
- Independent decision-makers within authority limits
- Commitment and continuous demonstration of ethical behavior and willingness to adhere to all company policies and current financial legislation.
- Conform to the Bank’s core values, which are:
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- Exceptional Customer Service- Everyone matters, always.
- Family Driven- Ours, yours, we put family first.
- Community-Focused- Our communities are the backbone of our business.
- Communication- Open, clear, and honest communication is key.
- Teamwork- Individuals working together to achieve a common goal
Education/Qualifications:
- A college degree in business management or a related field, or a high school diploma with equivalent work experience.
- A minimum of five years of experience in banking, loan operations, or a related financial services role is preferred but not required by the right candidate with the motivation and ambition to learn.
- Familiarity with loan documentation requirements and regulatory compliance.
- Strong organizational skills and attention to detail, with the ability to learn and adapt quickly.
- Commitment to learning and understanding the working knowledge of construction loan practices and documentation, with particular emphasis on draw administration and processes. Special emphasis on developing a working knowledge of budgets, the construction process, and inspection from groundwork to finish, and contractor expectation management. Proficiency in these areas or a targeted work plan to obtain proficiency is expected within the first 6–12 months of employment.
Supervisory:
This position has no direct supervisory responsibilities and may serve as a mentor for other positions in the organization.
Working Conditions:
- Normal office environment.
- While performing the duties of this job, the employee is regularly required to stand, walk, use hands to type, carry, handle, and feel objects, reach with hands and arms, and talk or hear. The employee must occasionally lift and/or move up to 25 pounds or more with assistance. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus
- Multitask; perform tasks in an open office environment with noise from conversations, office machines, or other distracting sounds.
- Keep track of assigned tasks
- May occasionally be exposed to upset customers during everyday activities or work under stress caused by anxious or impatient customers.
First Northern Bank is committed to equal opportunity for all, without regard to race, religion, color, national origin, citizenship, sex, sexual orientation, gender identity, age, veteran status, disability, genetic information, or any other protected characteristics. First Northern Bank will make reasonable accommodations for known physical or mental limitations of otherwise qualified employees and applicants with disabilities unless the accommodation would impose an undue hardship on the operation of our business. If you are interested in applying for an employment opportunity and feel you need a reasonable accommodation pursuant to the ADA, please contact us at 307-684-2211.
*The work environment characteristics described here represent those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.