Associate, Commercial Loan Closing (Construction Loans)

Capital One • McLean, VA

1d • Remote

About The Position

Associate, Commercial Loan Closing (Construction Loans) Are you looking for a challenging role that includes the convenience of working virtually at home? Then a Capital One Commercial Operations role may be the role for you! You must be within 50 miles driving distance from one of our Capital One hub locations in Richmond, VA or McLean, VA The Associate, Loan Closer (Construction Loan Administrator) drives the drawing process for commercial loan products, which include ground-up construction, renovations, and tenant improvements. The Associate will be the primary contact for the Borrower and Asset Manager for all aspects of the construction draw process.

Requirements

• High School Diploma, GED or equivalent certification
• At least 1 year of banking operations or financial services experience
• A secure home office environment that is free from background noise and distractions
• A reliable private internet connection that is not supplied via cellular data or hotspot
• A private network that is password protected where you have ownership or line of sight to every device on the network
• Internet service must be provided by Cable or fiber Internet Service Provides (ISP)
• Hotspots and satellite services are prohibited and do not meet performance criteria required for optimal agent/customer interactions
• ISP download speeds on VPN must be at least 5Mbps, with 10+ Mbps preferred
• To validate ISP speeds from a Chrome browser, go to www.google.com, type Speed Test and run from the Google landing page
• Both Hardwire and WiFI internet connections are acceptable as long as speed and security requirements are met
• Capital One reserves the right to request proof of internet provider, speed and service package from the associate.
• Requirements are subject to change, as new systems and technology are delivered.
• Capital One reserves the right to modify internet service requirements with sixty (60) days notice.
• Internet Service Provider specs can change by provider and location within the US.
• If you are experiencing consistent issues with internet stability Capital One reserves the right to ask the agent to upgrade internet service to ensure a good customer experience.
• Candidates must live within approximately 50 miles from one of the hub locations based in 23238 or 22102 and be comfortable coming in person whenever required with no less than 24 hours notice.

Nice To Haves

• Bachelor’s Degree or Military experience
• 2+ years of loan closing or construction funding experience
• 2+ years of experience with ACBS
• 2+ years of experience reviewing Loan or Legal Documentation
• 2+ years of experience with Intralinks or SyndTrack

Responsibilities

• Review complex loan agreements, budgets, draw requests, budget allocations, title endorsements, and releases to drive the construction draws during the life of the project.
• Interact with Asset Manager, Underwriters, Relationship Managers, engineers, borrowers, agent banks and insurance agents, etc.
• Ensure documentation accurately reflects the drawing process as outlined in the Loan Agreement
• Facilitates teamwork and continuity
• Solid knowledge required for the role and pursues gaining new knowledge when required
• Positively accepts change and engages productively with the team and relevant stakeholders
• Ensure transactions are closed in compliance with the Bank’s loan policy and any other requirements designated by the credit approval.
• Work with Asset Manager/Engineer to coordinate funding of the draws and acquire necessary documentation and resolve any project issues that arise.
• Ensure draws are funded within the time requirements set forth in the Loan Agreement.
• Liaise and coordinate requirements with internal and external clients (Asset Manager, Engineer, Syndication Desk, Borrowers, Lenders)
• Demonstrates the ability to balance required lien law and policy requirements when making decisions.
• Remain current on all pending and proposed lien law changes affecting compliance.
• Resolve issues that might impede funding and use judgment to involve the manager, asset manager, and engineer when required.

Benefits

• Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being.
• Learn more at the Capital One Careers website.
• Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.
• This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI).

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED