Construction Coordinator

Compeer Financial • Mankato, MN

7d • Hybrid

About The Position

This position is responsible for the monitoring and processing of all construction loan/lease draws for the organization from start of construction to completion. Ensures that funds are disbursed accurately and timely to contractors, vendors and clients.

Requirements

• Knowledge of federal and state (Illinois, Minnesota, and Wisconsin) laws, regulations and compliance requirements specific to the financial industry and Farm Credit.
• Must have a complete understanding of construction loan requirements for residential and commercial development projects.
• Basic knowledge of lending disbursement processes, procedures and documentation.
• Strong computer skills, including Microsoft Office applications and customer relationship management (CRM) programs
• Basic knowledge of standard construction budget practices and techniques.
• Must be authorized to work for any employer in the United States.
• Compeer is unable to sponsor or take over sponsorship of an employment visa at this time.

Nice To Haves

• Real estate knowledge, preferred.

Responsibilities

• Coordinates disbursement of funds and monitors construction funds after closing.
• Verifies all documentation is completed correctly and that the forms submitted are applicable.
• Examines draw request and all construction-related documentation to ensure that the invoice amounts, prior payments, current payments and balances correspond with documentation.
• Determines if a disbursement request payment should be made to the contractor or subcontractors for services based on review of sworn statement and documentation provided.
• Utilizes multiple system platforms to disburse funds (ex: ACH, Concur, Wires, etc.).
• Monitors, reviews and reconciles progress of construction against sworn statement budget line items to ensure project is on track.
• Sets up and activates construction project files.
• Schedules inspections with third party vendors or internal team members.
• Reviews completed inspection to ensure project is progressing or complete.
• Conducts Mechanic's Lien search via county website and judgment search on state applicable site.
• Works directly with Title Underwriter to address and resolve related lien issues.
• Actively reaches out to clients regarding projects that are delayed or not finished within timeframe indicated on the construction agreement.
• Identifies potential risks during construction, such as cost overruns or project delays and takes appropriate action.
• Mitigates risk for clients and lender by following the appropriate guidelines established by the Title Underwriter and organization.
• Reviews construction loan documentation to ensure all requirements and conditions for each project are met.
• Follows up with clients and contractors to resolve any document discrepancies.
• Verifies disbursement documentation to ensure project is within budget.
• Uploads all documentation for each draw to the appropriate systems and client files.

Benefits

• medical, dental, vision, HSA/FSA, life & AD&D insurance, short-term and long-term disability, wellness program & EAP
• Vacation, sick leave, holidays/floating holidays, parental leave, and volunteer paid time off
• Learning and development programs
• Mentorship programs
• Cross-functional committee opportunities (i.e. Inclusion Council, emerging professional groups, etc.)
• Professional membership/certification reimbursement and more!

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed