Associate Construction Specialist

Live Oak Banking•Wilmington, NC

15h

About The Position

Ensures the specialty construction portfolio is actively managed and continuously monitored to identify and mitigate risk. Utilizes experience and expertise to guide borrowers, projects and lending teams on policies, procedures, and best practices related to construction. Ensures all construction department standards are applied consistently and in accordance with Bank and government guaranteed lending policies and procedures to promote a high-quality construction portfolio.

Requirements

1 - 2 years of commercial lending or customer service experience
Effective communication skills with a focus on conflict resolution
Detail oriented with a high degree of accuracy
Strong organizational skills with the ability to prioritize workload
Excellent customer service skills
Proficient with Microsoft Office Suite

Nice To Haves

Bachelor’s degree or 3 - 4 years equivalent experience
Extensive knowledge of Bank and government guaranteed programs’ construction standards, policies, and procedures
Knowledge of BUILT and Salesforce

Responsibilities

Generate the construction closing checklist and participate in closing kick-off calls to educate borrowers on construction loan closing requirements
Collaborate with lenders, underwriters, closers, borrower, general contractor, and other third parties to ensure necessary construction documentation is collected prior to closing
Provide lending teams construction closing updates during pipeline meetings
Initiate required credit enhancements; engage third-party firms for initial project review and construction inspections
Prepare, analyze, and present general contractor due diligence for approval
Review construction documents collected from borrower to ensure completeness and accuracy prior to submitting file for closing approval
Confirm final loan budget and configure project setup in disbursement software application
Create and submit disbursements in conformance with bank and loan agreement funding requirements
Coordinate with internal and external partners on participated loans to insure loans are funded timely; address participant questions or concerns and elevate issues as appropriate to avoid funding delays
Ensure inspections and title updates are timely ordered, lien waivers and change orders collected, and the preparation of draw checklist is completed in a manner to expedite disbursements
Serve as borrowers' construction point of contact throughout loan closing and disbursement; answer general loan questions, monitor project timelines, manage loan budget, and maintain current loan file through project completion
Completes modification requests on multi-advance loans as necessary; works with internal and external parties as required to facilitate documentation
Track monthly loan payments and address delinquencies in a prompt manner
Assist internal servicing department with collection of updated financials from borrowers in accordance with loan agreement
Elevate problematic situations to Construction Manager and Credit Administration as needed
Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions
Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC
Performs other duties as required