Construction Funding Specialist

Vantage Bank•San Antonio, TX

About The Position

At Vantage Bank, we're driven by a deep commitment to supporting our customers, valuing our employees, embracing diversity, fostering meaningful connections, and providing outstanding service every step of the way. JOB SUMMARY The Construction Funding Specialist is responsible for monitoring the progress of construction projects financed by the Bank. They conduct reviews of the approved construction documents and third-party inspection or progress reports within the Bank’s commercial and residential construction loan portfolio. The Construction Funding Specialist reviews and processes construction advance requests based on percentage of completion to maintain appropriate loan-to-value (LTV) levels during each phase of construction. They participate in periodic site visits to ensure project progress and activity.

Requirements

Bachelor’s degree in Business or related field required.
Prior experience in construction lending, accounting, auditing, construction management, or credit risk analysis preferred.
Knowledge of and ability to interpret construction documents and inspection reports.
Excellent analytical, time management, organizational and problem-solving skills with the ability to multi-task and work in a deadline-driven environment.
Proficient computer skills with knowledge of Microsoft Office including, but not limited to, Word and Excel, and the ability to learn and utilize custom banking systems and applications.
Ability to adapt to constant change and periods of fast-paced situations while sticking to and meeting deadlines.
Ability to work independently with minimal supervision while performing assigned duties.
Ability to always maintain a high degree of ethical standards and complete confidentiality.

Nice To Haves

Accounting or Finance degree strongly preferred.

Responsibilities

Monitors construction loan files to ensure compliance with Bank policies and procedures.
Maintains complete and organized documentation for all construction loan files.
Provides regular status updates on construction loans to management.
Tracks construction loan activity and assists with construction portfolio reporting.
Reviews payment applications and construction draw requests.
Analyzes third-party inspection reports to confirm project completion percentages.
Reviews supporting documentation including invoices, and contractor documentation.
Reviews conditional and unconditional lien waivers associated with each payment application to ensure proper release of lien rights prior to disbursement.
Verifies compliance with approved budgets, construction contracts, and plans.
Performs risk assessments of construction credits based on project documentation and discussions with lending officers.
Identifies potential project issues and escalate concerns to management with recommended solutions.
Assists with special reporting requests for senior management, auditors, and regulators.
Collects and reviews construction documents including plans, specifications, cost breakdowns, and contracts.
Reviews property surveys including boundary, pre-slab, and as-built surveys to ensure compliance with plans, easements, restrictions, and final appraised value.
Coordinates third-party construction document reviews when required.
Reviews qualifications and documentation of General Contractors, suppliers, and subcontractors involved in construction projects.
Completes administrative tasks correctly and on time; supports the Bank’s goals and values; benefits the Bank through outside activities.
Ensures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations, which include BSA, CIP, and OFAC requirements as they apply to this job title/position.
Maintains effective communication with lenders, inspectors, contractors, and internal departments including Credit Review, Loan Review, and Special Assets.
Supports departmental initiatives and process improvements.
Continues to develop knowledge of the financial and construction industry; economy; market conditions; interest rates; vendors; competition; and applicable laws, regulations, and regulatory requirements (including regulatory bulletins and issuances).
Other duties as assigned.