Sr Construction Disbursement Administrator

Banc of California • San Diego, CA

23h • $70,305 - $85,000 • Onsite

About The Position

Work directly and independently with construction contractors /project managers, third party inspection firms, fund control companies, title insurers, borrowers, accountants, and lenders to provide accurate and responsive funding on highly complex construction loans through all stages. Relied on as a resource for construction industry related practices and legal requirements. Able to thoroughly understand construction related contracts and budgets. Performs all duties in accordance with the Company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates.

Requirements

• 3 to 5 years Construction Disbursement and Commercial Lending experience is required
• Ability to work in word, outlook and excel
• Ability to create reports
• Strong knowledge of escrow, title, UCC, and lender due- diligence/verification processes
• Strong knowledge of commercial loan processing, documentation, closing procedures, underwriting requirements, and terminology
• Strong knowledge of the Construction Process and typical Disbursement requirements.
• Ability to manage multiple tasks/projects and deadlines simultaneously
• Possess strong analytical skills
• Be a self-starter and detail-oriented
• High School diploma or equivalent required

Nice To Haves

• SBA 7(a) experience preferred
• College degree or equivalent experience is preferred

Responsibilities

• At loan closing and in conjunction with the REIG lender, establish the final Master Funding Ledger to include all funding sources and uses utilizing construction budget (s) and loan closing statements. Verify and allocate project equity, for hard and soft costs.
• At loan closing and in conjunction with the REIG lender, review and approve the initial Master Funding Ledger prepared by REIG disbursement team members to include all funding sources and uses utilizing construction budget (s) and loan closing statements.
• Ensure project budgets are accurately set up through approved fund control companies.
• Facilitate initial post-closing meeting with REIG lending/disbursement team, and Borrowers project team. Conduct follow up meetings as necessary.
• Verify and balance all budget categories and all funding sources, both initially and with each funding request.
• Coordinate fund control requests and project inspections.
• Prepare and monitor funding reports for management.
• Accurately complete funding package, submit for approval, disburse draws using the appropriate funding source and notify recipient of funds.
• As required approve funding packages prepared by REIG disbursement team members.
• Ensure line-item transfers and increase transfers are adequately documented, the cost breakdown continues to balance and all changes are submitted to the Loan Officer for approval.
• Ensure the Master Funding Ledger is updated regularly to reflect accurate and current construction progress and the status of the remaining available funds.
• Manage mechanic’s lien detection and responsive resolution via interface with Borrower, Title Officer and Lender.
• Order and review all applicable endorsements, including but not limited to, foundation and incremental increased coverage endorsements. Obtain rewrite title policies as applicable.
• Establish and maintain paper and electronic files for assigned construction projects in accordance with REIG and Bank policies and procedures.
• Periodically review/audit REIG construction files to ensure audit readiness.
• Process partial demands and re-conveyances for REIG subdivision projects.
• Work with other REIG Team members to monitor and clear ticklers and exceptions.
• Complete monthly certifications as assigned.
• Follow up for receipt and completion of all information in a timely manner.
• Special projects as assigned.
• Complete error-free accounting work.
• Follow all established policies and procedures.
• Perform other duties and projects as assigned.

Benefits

• 401k plan which includes a company match and immediate vesting
• medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA)
• adoption, surrogacy, and fertility assistance
• paid parental leave and family support solutions including care options for your family
• paid vacation days, holidays, and volunteer time off
• tuition reimbursement
• an annual mentorship program
• leadership development resources
• access to LinkedIn Learning

What This Job Offers

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