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, after approval, works with Bankers and Commercial Loan Coordinators (CLC) to ensure requirements are met before or at closing. The role monitors the Bank’s commercial construction lending portfolio to confirm projects progress as expected and loans are administered as approved. The CLA oversees construction loan disbursements, reviews budgets, draw requests, pay applications, invoices, lien waivers, and project inspections, and coordinates with internal and external parties to resolve issues. The position also monitors construction-phase loan covenants, confirms suitable hazard insurance coverage, and develops consistent documentation processes for construction loan administration. The role is expected to follow Bell Bank culture, policies, procedures, information-security standards, and applicable laws and regulations, maintain reliable attendance, and provide backup to other Construction Loan Administrators as needed.

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 a variety of tasks, including communicating with customers, contractors, loan officers, and title insurance personnel and working through deficiencies.
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, or an equivalent combination of education and experience that provides an understanding of the construction loan process.

Responsibilities

Outline the necessary requirements for each construction project in the Loan Presentation before loan approval.
Consult with Bankers and outside consultants, as necessary, 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 the Banker, CLC, borrower, title company, attorneys, architects, and inspectors 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-supplied invoices to confirm the correct draw amount.
Ensure lien waivers have been received for prior disbursements.
Review or perform onsite inspections before disbursement to verify the appropriate level of work has been completed.
Prepare independent progress inspection reports.
Hire third-party building inspectors when appropriate.
Coordinate with the Banker, CLC, and/or title company to fund draw requests; 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’s values, customer service standards, policies, procedures, systems, Code of Conduct, Bank Secrecy Act, and applicable laws and regulations.
Comply with information-security policies and standards protecting sensitive information.
Maintain prompt and reliable attendance and perform other duties as assigned.