Sr. Construction Draw Specialist
About The Position
We are seeking a meticulous Senior Construction Draw Specialist. The Senior Construction Draw Specialist will manage and coordinate the processing, approval, and disbursing of construction draw requests for the bank’s commercial and residential construction loans. The role will require the review construction statements, construction draw requests, invoices, insurance documents, certain loan closing documents; ensure open communication with staff, clients, and third-party vendors; provide a review and validation of draw requests and coordinate the disbursing the draws. Picture yourself at one of the Twin Cities’ best places to work, surrounded by people who challenge you, support you, and inspire you to be your best. Welcome to Bridgewater Bank. We’re on a mission to be the finest entrepreneurial bank in the Twin Cities. Like true entrepreneurs, we run fast and lean. We are in constant evolution and the runway for personal and professional growth is long. People are our strength, and that’s why we’ve created and sustained an award-winning culture that promotes growth and celebrates the big and little wins along the way. At the end of the day, we believe competitive salaries, top-tier benefits, and transparency into the business is a given. Working together toward something meaningful with people you enjoy, is just a bonus! Will you join us?
Requirements
- Bachelor’s degree in finance, economics, business, or related field
- 3+ years of Commercial Construction Loan Processing and/or Disbursement Experience
- Superior analytical/reasoning skills
- Proficiency in Microsoft Word, Excel, PowerPoint, and Outlook
- Excellent written, verbal, and interpersonal communication skills
- Effective interpersonal and communications (written and verbal) skills.
- High attention to detail and in-depth knowledge of construction loan draws requests and disbursements
Responsibilities
- Review sworn construction statements to ensure consistency with loan approvals and accuracy of draw schedules
- Coordinate draw request communication between client, lender, title company, participant banks and loan servicing staff
- Collect, review, and analyze draw request documentation for internal loan file
- Collect, review, and analyze lien waivers prior to construction draw disbursement to ensure priority lien positions
- Monitor project invoices and construction budgets to ensure construction projects remain in-balance and meet the standards set within loan approvals and appraisals
- Order and review third-party property inspections to ensure construction project remain on-schedule. Completion of property inspections as needed.
- Assists with problem resolution and change orders for construction projects, if applicable
- Organize and prepare draw request package for submission for disbursement
- Communicate with participant banks regarding construction budgeting, documentation, and funding
- Prepare ongoing risk management reports regarding construction draws as requested
- Develop and maintain accurate records for draw projects for Credit and Lending groups
- Adhere to the bank’s policies, procedures, security requirements and government regulations including (but not limited to) BSA.
Benefits
- Healthcare (medical, dental, vision)
- Basic term and optional term life insurance
- Short-term and long-term disability
- Parental leave
- 401(k) with employer match
- Paid vacation & paid holidays
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Number of Employees
251-500 employees
