CareerArc
Loan Administrator Sr Construction
CareerArc, Charlotte, North Carolina, United States, 28245
LOAN ADMINISTRATOR SR CONSTRUCTION
WHAT IS THE OPPORTUNITY?
The Construction Loan Administrator is responsible for the end-to-end servicing and administration of complex Commercial Construction loans and projects, including the monitoring of syndicated deals (agent or participant). This role requires strong technical knowledge of construction lending, loan documentation, title review, and budget management. The administrator ensures all construction loans are accurately set up, properly monitored, and serviced in accordance with the loan agreement, bank policy, and established timelines. Construction Loans with activities including but not limited to; monitoring construction throughout the life cycle, set up of the construction loans and budget, the disbursement of construction loan draws within established budget and review of Construction Loan Agreement and its Budget.
WHAT WILL YOU DO?
Review the credit memo and loan agreement ensuring proper terms and budget are within the approved credit.
Enter new construction loans in the system and set up appropriate budget for complex projects
Ensure the new loan set up line item budgets are in accordance with the credit approval and Construction Loan Agreement.
Review the disbursement draw request to the specific line item in the budget ensuring funding within the budget.
Review and approve draws for disbursement
Obtain approval for budget change request line item
Reconcile borrower's construction loan budget to the bank's records
Obtain title insurance date down/change orders for draw request.
Order third party inspection reports, process invoicing and reconciliation
Track and follow up on receipt and approval of inspection and title date down reports.
Monitor the use of borrower's funds and disbursing funds accordingly on borrower's behalf.
Monitor interest reserve adequacy on all accounts
Monitor and reconcile Construction Loan Disbursement Report
Maintain and monitor current property and general liability insurance for all files
Interface with relationship managers, title companies, legal counsel, appraisal department, construction services, accounting and etc.
WHAT DO YOU NEED TO SUCCEED
Required Qualifications
Bachelor's Degree or equivalent
Minimum 8 years experience in Construction Loan Administration/Commercial Real Estate
Additional Qualifications
Previous experience in large financial institutions is preferred
Recommended Experience: Prior closing experience, paralegal (i.e., understand legal language and docs), credit experience or understanding of experience Client facing presence
Project Management skills, ability to prioritize tasks and adapt to changing priorities
Organizational and time management skills
Understanding of bank policies and procedures relating to the satisfaction of loan closing conditions, documents, and services
WHAT'S IN IT FOR YOU?
Compensation
Starting base salary: $34.55 - $55.19 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks
Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
It is a generic overview of our Benefits and Perks available at City National. About us: City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. About City National and our dynamic company culture, visit us at About Us.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. Careers.cnb.com accepts applications on an ongoing basis, until filled.
Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.
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The Construction Loan Administrator is responsible for the end-to-end servicing and administration of complex Commercial Construction loans and projects, including the monitoring of syndicated deals (agent or participant). This role requires strong technical knowledge of construction lending, loan documentation, title review, and budget management. The administrator ensures all construction loans are accurately set up, properly monitored, and serviced in accordance with the loan agreement, bank policy, and established timelines. Construction Loans with activities including but not limited to; monitoring construction throughout the life cycle, set up of the construction loans and budget, the disbursement of construction loan draws within established budget and review of Construction Loan Agreement and its Budget.
WHAT WILL YOU DO?
Review the credit memo and loan agreement ensuring proper terms and budget are within the approved credit.
Enter new construction loans in the system and set up appropriate budget for complex projects
Ensure the new loan set up line item budgets are in accordance with the credit approval and Construction Loan Agreement.
Review the disbursement draw request to the specific line item in the budget ensuring funding within the budget.
Review and approve draws for disbursement
Obtain approval for budget change request line item
Reconcile borrower's construction loan budget to the bank's records
Obtain title insurance date down/change orders for draw request.
Order third party inspection reports, process invoicing and reconciliation
Track and follow up on receipt and approval of inspection and title date down reports.
Monitor the use of borrower's funds and disbursing funds accordingly on borrower's behalf.
Monitor interest reserve adequacy on all accounts
Monitor and reconcile Construction Loan Disbursement Report
Maintain and monitor current property and general liability insurance for all files
Interface with relationship managers, title companies, legal counsel, appraisal department, construction services, accounting and etc.
WHAT DO YOU NEED TO SUCCEED
Required Qualifications
Bachelor's Degree or equivalent
Minimum 8 years experience in Construction Loan Administration/Commercial Real Estate
Additional Qualifications
Previous experience in large financial institutions is preferred
Recommended Experience: Prior closing experience, paralegal (i.e., understand legal language and docs), credit experience or understanding of experience Client facing presence
Project Management skills, ability to prioritize tasks and adapt to changing priorities
Organizational and time management skills
Understanding of bank policies and procedures relating to the satisfaction of loan closing conditions, documents, and services
WHAT'S IN IT FOR YOU?
Compensation
Starting base salary: $34.55 - $55.19 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks
Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
Generous 401(k) company matching contribution
Career Development through Tuition Reimbursement and other internal upskilling and training resources
Valued Time Away benefits including vacation, sick and volunteer time
Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
Career Mobility support from a dedicated recruitment team
Colleague Resource Groups to support networking and community engagement
It is a generic overview of our Benefits and Perks available at City National. About us: City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. About City National and our dynamic company culture, visit us at About Us.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. Careers.cnb.com accepts applications on an ongoing basis, until filled.
Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.
#J-18808-Ljbffr