Portfolio Manager II - Construction

Provident Bank • Woodbridge Township, NJ

17d

About The Position

This position is considered the more experienced in the job family and responsible for mentoring of less experienced Construction Adminstrators and Construction PMs. The position’s role is responsible for accurately administering a larger more complicated portfolio of construction loans and maintaining a courteous and beneficial liaison between customers, Relationship Managers, and other outside professionals. The candidate selected will be expected to be work independently and will escalate situations as appropriate to Management. Job performance is evaluated on accuracy, timeliness, productivity, and customer satisfaction.

Requirements

• High School degree or GED. Work experience equivalent to meet job requirements
• Minimum 5 to 7 years’ experience commensurate with job function
• Extensive knowledge of Construction Mortgage Loan Administration requirements and ability to apply such knowledge. (GC contracts, plan and cost reviews, legal documents, inspection reports, title insurance, etc.).
• Experience with complex construction loans and ability to monitor them.
• Strong verbal, communicative and written skills.
• Ability to manage heavy workflow, resolve problems with modest supervision, attention to detail and perform arithmetic calculations.
• Proficient with Excel and Word.

Responsibilities

• Review pre-closing documentation for commercial lending and/or commercial real estate construction loans. Such as term sheets, approvals, GC contracts, detailed borrower budget, insurance, draft loan documents and plan and cost reports to ensure the loan is closing in compliance with all terms and conditions required under the approval and construction contracts.
• Prepare detailed project budget template for all loans assigned to them prior to closing based on final budget provided by the borrower, funding criteria, loan allocations and reallocations provisions within the loan documents and GC contract. Borrower budget should be compared to Plan & Cost to verify cost.
• Maintains loan budget template on a regular basis reflecting each funding, principal pay down and release consideration payment to ensure the budget remains in balance.
• Responsible for confirming loans are property booked on the Bank’s loan system by Loan Operations, creates disbursement files and follows up for any post-closing construction related documents.
• Upon receipt of monthly borrower funding requests; coordinates inspections with Bank engineer and GC; review borrower funding request documents for accuracy.
• Update the budget template with all draw requests and maintain and monitor the status of the budget/funding as to accuracy to ensure there is no overfunding, and all line items remain in balance and compliance with approved loan and funding budgets.
• Responds to customers’ requests in a timely manner and funds within the time frame outlined in loan documents.
• Works closely with RMs and other internal customers regarding funding request from customers.
• Review and monitor all inspection reports to determine if there are any issues with the project or a change in the construction budget. Discusses any issues with Relationship Manager and customer.
• Liaison between customers, RMs and engineers.
• Assist closing with review of legal documents to ensure all covenants are included based on bank approval.
• Attend customers meetings and site inspections with Relationships Managers and bank engineers to ensure property is being completed on time and within budget and in accordance with plans.
• Assist closing department with clarification of construction language in documents and plan and cost reports.
• Monitor and manage monthly interest reserves, maturities, liens and insurance.
• Prepare partial release letters on for sale projects.
• Coordinates, creates, submits, or receives lender notices to fund construction loan advances including participated and syndicated loans. Confirms monthly interest payments, insurance and tax payments are current and in good standing.
• Assist Construction Team Leader with mentoring less Sr. Construction Loan Adminstrators.

Benefits

• Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan.
• In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance.
• Company sponsored Tuition Disbursement and Loan Repayment programs are also available.
• Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED