Principal Associate, Construction Loan Administration

Capital One•McLean, VA

6d•$108,900 - $124,300•Remote

About The Position

Capital One, a Fortune 500 company and one of the nation’s top 10 banks, offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients. Our goal is to create one of the nation's great banks, and we have the necessary ingredients: a strong balance sheet, resilient businesses, a massive customer franchise, strong analytical capabilities, and great people. We nurture a work environment where people with a variety of thoughts, ideas, and backgrounds, guided by our shared values, come together to make Capital One a great company—and a great place to work. About Global Enterprise Affairs and the Community Finance Team: Global Enterprise Affairs works with many external and internal stakeholders to envision and create a world of greater socioeconomic opportunity through advocating for an inclusive society, building thriving communities, and creating financial tools that enrich lives. Our teams include Communications, Community Impact and Investment, Community Finance, CRA Strategy and Program Management, the Government and Political Affairs Group, Regulatory Relations, and Strategy and Engagement. Through our teams, we have unparalleled access to a diverse group of motivated changemakers similarly focused on the ingredients for a more perfect future. Community Finance builds inclusive, thriving resident-centered communities that catalyze opportunity and promote well-being. The team originates debt and invests in the low income housing tax credit through proprietary and multi-investor fund structures.

Requirements

High School Diploma, GED or Equivalent Certification
At least 3 years of experience in construction loan management
At least 3 years of experience in accounting and loan operations, including the direct preparation, review, or processing of loan documents.

Nice To Haves

Bachelor’s Degree or Military Experience
5+ years of experience in construction loan management
Experience with construction lending, LIHTC investment or syndication
Strong critical thinking, credit analysis and problem solving skills

Responsibilities

Manage a medium- to large-sized portfolio of standard/complex construction loans, primarily consisting of multifamily low-income housing tax credit (“LIHTC”) transactions, with limited oversight from more experienced CLAs.
Perform monthly due diligence on Borrowers’ draw requisitions, including verifying documentation and tracking/balancing budgeted sources/uses.
Ensure proper, loan agreement-compliant documentation is received for funding while performing risk mitigation efforts.
Act as the primary point of contact for borrowers and coordinate with internal and external partners, including Project Managers, Closers, inspectors, and government agencies.
Review transaction documentation and attend closing calls.
Set up the initial draw process.
Process monthly draw requisitions with full due diligence.
Manage bank-controlled accounts (BCAs).
Track budgets, change orders, and equity contributions.
Handle general ledger transactions, interest payments, and insurance compliance.
Monitor maturities, coordinate extensions, process payoffs, and execute permanent loan conversions.
Lead team training.
Onboard new members.
Drive strategic process improvement projects.