Toorak Capital Partners
Construction Draw Associate Principal (Tampa)
Toorak Capital Partners, Tampa, Florida, United States, 33646
The Company
Toorak Capital Partners is a multibillion-dollar integrated correspondent lending platform that funds small balance business purpose residential, multifamily, and mixed-use loans throughout the U.S. and the United Kingdom. Headquartered in Tampa, FL, Toorak Capital Partners acquires and manages loans directly from private lenders that originate high credit quality loans. Toorak Capital Partners principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Toorak Capital Partners-funded projects have renovated or stabilized housing for more than 10,000 families to date
an average of more than 500 families every month. Position Overview
The Construction Draw Associate Principal will report to the Head of Draws Administration and partner with the Head of Asset Management to assist with oversight and management of the end-to-end draw process for residential construction projects in the US and UK. This role ensures accurate, timely, and compliant disbursement of construction funds while coordinating closely with Third Party Originators (TPOs), contractors, borrowers and various internal departments within Toorak. The ideal candidate has strong financial acumen, deep understanding of residential construction phases, and exceptional communication and documentation skills. This position is also involved in assessments of potential multi-family property transactions to preserve economic interests of the company
Key Responsibilities Manage the full cycle of construction draw requests, including review, verification, submission, and fund disbursement; Conduct detailed audits of invoices, lien waivers, contractor pay applications and supporting documentation to mitigate potential losses; Ensure all draw requests comply with requirements, contract terms, and internal policy; Track project budgets, cost codes, change orders, and contingencies to verify funding is available and expenses are included in the approved budget; Work closely with construction managers, superintendents, and contractors to confirm progress aligns with the draw request; Maintain and amend policy associated with required documentation to justify draw disbursements and assess project completion status based on inspection reports; Monitor project timelines and identify delays or inconsistencies that impact funding; Serve as the primary liaison between the company, TPOs, title companies, and inspectors regarding draw requests. Respond promptly to TPO questions, follow up on outstanding items, and ensure timely approval/closing of draws; Maintain strong working relationships with vendors to ensure accurate invoicing and compliance with required documentation; Maintain organized, accurate, and audit-ready records of all draw-related documents. Ensure collection of lien releases (conditional and unconditional) and title date downs; Assist with internal and external audits related to construction funding; Enforce contract standards and ensure adherence to state and local regulations; Prepare periodic reporting on draw status, budget vs. actual expenses, and variances; Identify cost overruns early and provide recommendations for mitigation;
Qualifications 10-15+ years of experience in construction finance, draw management, construction administration, or similar role; Strong understanding of residential construction, schedules, budgets, and permitting; Familiarity with construction lending processes and lender requirements; Proficient with English language is a must; Attention to detail and ability to review financial and construction documents to make accurate and timely decisions on draw reimbursement requests; Strong communication and relationship-building skills; Proficiency in relevant software (e.g., Procore, Buildertrend, QuickBooks, Excel, construction loan/draw management platforms). Experience working for a homebuilder, general contractor, lender, or construction management firm, preferred; Knowledge of lien laws, title processes, and construction compliance requirements. Ability to read blueprints and interpret construction progress. Fundamental understanding of controls and root cause analysis to address operational challenges.
Working Conditions Hybrid work environment (3 days in the office minimum) depending on company needs; Occasional travel to job sites; Fast-paced environment requiring flexibility and responsiveness.
Toorak Capital Partners is a multibillion-dollar integrated correspondent lending platform that funds small balance business purpose residential, multifamily, and mixed-use loans throughout the U.S. and the United Kingdom. Headquartered in Tampa, FL, Toorak Capital Partners acquires and manages loans directly from private lenders that originate high credit quality loans. Toorak Capital Partners principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Toorak Capital Partners-funded projects have renovated or stabilized housing for more than 10,000 families to date
an average of more than 500 families every month. Position Overview
The Construction Draw Associate Principal will report to the Head of Draws Administration and partner with the Head of Asset Management to assist with oversight and management of the end-to-end draw process for residential construction projects in the US and UK. This role ensures accurate, timely, and compliant disbursement of construction funds while coordinating closely with Third Party Originators (TPOs), contractors, borrowers and various internal departments within Toorak. The ideal candidate has strong financial acumen, deep understanding of residential construction phases, and exceptional communication and documentation skills. This position is also involved in assessments of potential multi-family property transactions to preserve economic interests of the company
Key Responsibilities Manage the full cycle of construction draw requests, including review, verification, submission, and fund disbursement; Conduct detailed audits of invoices, lien waivers, contractor pay applications and supporting documentation to mitigate potential losses; Ensure all draw requests comply with requirements, contract terms, and internal policy; Track project budgets, cost codes, change orders, and contingencies to verify funding is available and expenses are included in the approved budget; Work closely with construction managers, superintendents, and contractors to confirm progress aligns with the draw request; Maintain and amend policy associated with required documentation to justify draw disbursements and assess project completion status based on inspection reports; Monitor project timelines and identify delays or inconsistencies that impact funding; Serve as the primary liaison between the company, TPOs, title companies, and inspectors regarding draw requests. Respond promptly to TPO questions, follow up on outstanding items, and ensure timely approval/closing of draws; Maintain strong working relationships with vendors to ensure accurate invoicing and compliance with required documentation; Maintain organized, accurate, and audit-ready records of all draw-related documents. Ensure collection of lien releases (conditional and unconditional) and title date downs; Assist with internal and external audits related to construction funding; Enforce contract standards and ensure adherence to state and local regulations; Prepare periodic reporting on draw status, budget vs. actual expenses, and variances; Identify cost overruns early and provide recommendations for mitigation;
Qualifications 10-15+ years of experience in construction finance, draw management, construction administration, or similar role; Strong understanding of residential construction, schedules, budgets, and permitting; Familiarity with construction lending processes and lender requirements; Proficient with English language is a must; Attention to detail and ability to review financial and construction documents to make accurate and timely decisions on draw reimbursement requests; Strong communication and relationship-building skills; Proficiency in relevant software (e.g., Procore, Buildertrend, QuickBooks, Excel, construction loan/draw management platforms). Experience working for a homebuilder, general contractor, lender, or construction management firm, preferred; Knowledge of lien laws, title processes, and construction compliance requirements. Ability to read blueprints and interpret construction progress. Fundamental understanding of controls and root cause analysis to address operational challenges.
Working Conditions Hybrid work environment (3 days in the office minimum) depending on company needs; Occasional travel to job sites; Fast-paced environment requiring flexibility and responsiveness.