Construction Loan Administrator - Commercial Banking

IDB • New York, NY

5d • $80,000 - $110,000 • Hybrid

About The Position

Job Summary: Loan administration of complex construction loans; mostly commercial, part residential and land development loans.

Requirements

• Bachelor’s degree in Business preferred. Minimum of 3 - 5 years of relevant experience.
• Proficient in Word and Excel.
• Strong attention to detail and accuracy.
• Exercise sound judgement, and excellent independent decision-making skills.
• Excellent communication and organization skills.
• Provide excellent customer service to both internal and external customers.
• Familiar with LoanIQ or similar loan system preferred.
• Ability to adhere to set turnaround time on all draw requests

Nice To Haves

• Familiar with LoanIQ or similar loan system preferred.

Responsibilities

• Administer construction loan portfolio.
• Process loan advances and reductions, track insurance, quote payoff figures, and apply interest payments.
• Construction monitoring of both commercial and part residential loans.
• Set up monitoring workbooks with loan specific draw schedules for complex loans.
• Coordinate all site inspections for loan draws relating to the construction loans and title bringdowns.
• Ability to establish draw schedules and budget tracking using workbooks/systems based on the requirements of the loan approval, loan documents, and construction contract, if applicable.
• Careful review of draw request to identify possible budget problems, and elevate to supervisors with recommendations for resolution.
• Review inspection reports and documents for accuracy, and for conformance with the budget, loan approval, and Loan Agreement.
• Approve draws jointly with Relationship Managers.
• Update ledgers, budgets, and the funding log.
• Work with title company to obtain Partial Satisfaction Certificates for processing within 30 days of receipt of payment.
• Prepare quarterly Project Status Reports for review by, and signature of the loan officer.
• Understanding of AIA construction documents, and the ability to identify and elevate issues contrary to documentation.
• Backup other Administrators in their absence.

Benefits

• eligibility for an annual bonus
• medical, pharmacy, dental, and vision plans
• life and disability insurance
• employee wellness program
• retirement and savings plans with employer contributions
• generous holiday and paid time off schedules
• parental leave
• tuition reimbursement

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level