Commercial Construction Monitoring Specialist

Farmers Logo 2022•Canfield, OH

22h

About The Position

The Commercial Construction Monitoring Specialist is responsible for overseeing and managing the construction draw process for commercial lending projects. This role ensures that funds are disbursed appropriately based on verified project progress, contractual requirements, and compliance with loan terms. Acting as a key liaison between lenders, borrowers, contractors, and internal teams, the specialist mitigates risk while supporting timely project completion.

Requirements

High School Diploma or GED
Bachelor’s Degree preferred
Minimum three (3) years’ experience construction loan administration, commercial lending, or construction project management preferred
Strong attention to detail with a strong organizational focus with ability to multi task.
Understanding of GLs and flow of funds for disbursements from participation loan account to Auto Pay GL
Good verbal and written communication with ability to explain complicated financial information such as loan disbursement, interest accrual and payment application with Participant Bank’s staff.
Good verbal and written communication with ability to communicate on all levels to contractors and borrowers in a clear and concise manner.
Good problem solver and independent thinker with ability to research, resolve and communicate results in an organized manner.
Team oriented with demonstrated effort to assist other department staff during peak work flow.

Responsibilities

Review, analyze, and approve construction draw requests in accordance with project specifications, cost estimates, builder contracts, and third-party inspections
Ensure all disbursement requests include proper supporting documentation (e.g., lien waivers, signed pay applications, invoices)
Reconcile contractor draw requests against available loan funds and verified work completed
Examine construction contracts, budgets, project plans, draw schedules, and inspection reports for accuracy and compliance
Ensure adherence to loan policies, loan terms, and AIA G702/G703 documentation standards
Identify discrepancies, incomplete documentation, or compliance issues and initiate resolution
Partner with lending assistants and lenders to confirm all required preliminary construction documentation is received, reviewed, and approved prior to loan closing
Utilize construction management software (Built) to create and maintain project records
Track and reconcile both hard and soft costs throughout the project lifecycle
Ensure documentation aligns with contractor requests and approved project budgets
Serve as the primary point of contact for all construction draw-related inquiries
Respond to and resolve questions regarding draw disbursements, change orders, inspections, cost overruns, and lien status
Maintain clear communication with internal stakeholders and external partners
Analyze draw packages to confirm funds are disbursed based on verified progress and contract terms
Ensure projects remain within budget, and all requirements are satisfied prior to funding release
Identify, assess, and escalate potential risks related to budget, compliance, or project delays
Monitor contingency funds to ensure adequate coverage throughout the project
Track project timelines and progress to ensure completion in accordance with approved schedules
Leverage Built software to proactively identify and mitigate potential issues
Complete all mandatory and elective training including BSA and Anti-Money Laundering procedures.
Maintain compliance with all appropriate rules and regulations.
Regular predictable attendance is an essential requirement of this position
Complete all other duties as assigned