Commercial Construction Loan Administrator

Bell Bank•Maple Grove, MN

About The Position

The Commercial Construction Loan Administrator (CLA) outlines construction loan requirements in the Loan Presentation before approval and works with the Banker and Commercial Loan Coordinator (CLC) to ensure those requirements are met before or at closing. The role monitors the Bank’s commercial construction lending portfolio to confirm projects are progressing as expected and loans are administered as approved. The administrator reviews construction budgets, contracts, draw requests, pay applications, invoices, lien waivers, inspections, insurance coverage, and construction-phase loan covenants. The position works with Bankers, borrowers, contractors, title companies, attorneys, architects, inspectors, and outside consultants, and helps establish consistent documentation practices for construction loan administration.

Requirements

2–4 years of relevant experience.
Familiarity with standard concepts, practices, and procedures in commercial real estate construction lending and monitoring commercial real estate construction projects.
Ability to multitask and perform varied tasks while working through deficiencies with customers, contractors, loan officers, title insurance personnel, and others.
Excellent verbal and written communication skills.
Proficiency with computer technology.
Effective time-management and organizational skills.

Nice To Haves

Bachelor’s degree in Construction Management.

Responsibilities

Outline the necessary requirements for each construction project in the Loan Presentation before loan approval.
Consult with Bankers and outside consultants as needed to review and analyze the adequacy of the Sworn Construction Statement.
Work with Bankers and Commercial Loan Coordinators to obtain and assign applicable General Contractor and subcontractor contracts.
Participate in pre-close calls with relevant parties to discuss the construction loan process and expectations.
Monitor and control loan disbursements in accordance with the approved Loan Presentation.
Enter customer and contractor information and approved budgets into the Construct loan administration platform.
Review contractor or builder draw requests to ensure they are within the construction budget.
Review pay applications and contractor invoices to confirm the correct draw amount.
Ensure lien waivers have been received for prior disbursements.
Review or perform onsite construction inspections before disbursement to verify the appropriate level of work is complete.
Prepare independent progress inspection reports.
Hire third-party building inspectors when appropriate.
Coordinate draw funding with the Banker, CLC, and/or title company, and promptly report problems to the Banker and immediate supervisor so corrective action can be taken.
Ensure adequate builder’s risk or comparable hazard insurance coverage is in place.
Monitor loan agreement covenants that pertain to the construction phase.
Develop a consistent process for documenting construction loan administration.
Provide backup to other Construction Loan Administrators when necessary.
Follow Bell Bank values, customer service standards, policies, procedures, Code of Conduct, Bank Secrecy Act requirements, and applicable laws and regulations.
Protect sensitive information and comply with information security policies and standards.
Maintain prompt and reliable attendance and perform other duties as assigned.