Manager, Construction Loan Administration

Valley Bank•Morristown, NJ

About The Position

This role is responsible for the administration of all commercial construction loans, including processing loan advances and maintaining contract and file information. The position involves monitoring commercial construction projects from inception to completion, analyzing cost estimates, and reviewing commitment letters and agreements to ensure compliance with approved credit conditions. The Manager will oversee the review of construction inspection reports for various project types, validate municipal approvals, and manage the construction loan advance function. Additionally, this role requires attending bank meetings, providing comprehensive oversight of all construction loans, managing two construction loan administration sites and their employees (including hiring, coaching, performance reviews, and disciplinary actions), and managing vendor relationships with inspection firms, outside counsel, and title companies. The Manager will also oversee department service levels and relationships within the bank, and continuously seek process improvements for efficiency and effectiveness.

Requirements

Experience in construction lending.
Strong experience in process-oriented areas of organizations, ideally banking (commercial loan operations).
Ability to manage large teams both on-site and remotely.
Ability to communicate effectively with business partners as a control function, balancing the need to accommodate customer (internal and external) needs, with process discipline and a risk management mindset.
Strong understanding of the construction lien laws of New Jersey, New York, Florida and Alabama (primary markets), and awareness of laws in other geographies in which Valley does business.
Strong analytical skills.
Ability to handle multiple projects simultaneously.
Proficient in Microsoft Office, specifically Word and Excel.
Strong communication skills both written and oral.
Valid Driver's License.
High school diploma or GED and minimum of 10 years work experience, preferably in the operations area of a financial institution.
Commercial real estate loan experience, and especially construction loan administration experience a huge plus.

Nice To Haves

Bachelor's degree preferred.

Responsibilities

Responsible for the Administration of all Commercial Construction Loans and the processing of all construction loan advances as well as the upkeep of contract and file information.
Monitor commercial construction projects from inception to completion.
Analyze construction cost estimates.
Review construction loan commitment letters and construction agreements assuring compliance with approved construction credit conditions.
Oversee the review construction inspection reports prepared by outside vendors for single family residential, site improvement work and vertical commercial construction projects to ensure compliance with loan documentation as well as bank regulations.
Validate that all municipal approvals and construction requirements have been met.
Manage construction loan advance function insuring conformance with loan documentation.
Attend bank meetings relating to commercial loans and follow up on any outstanding issues.
Comprehensive oversight of all construction loans in the commercial bank.
Management of two construction loan administration sites and all employees including hiring, coaching/development, performance reviews and disciplinary action.
Manage vendor relationships with inspection firms, build and maintain relationships with outside counsel and title companies.
Manage the department's service levels (to line, loan operations, appraisal, and risk functions) and ongoing relationships within the bank.
Continually look for ways to improve process to make them more efficient and effective.