Construction Disbursement Officer

Construction Officer

The Construction Officer is responsible for the servicing of complex Commercial Construction Projects and complex Construction Loans with activities including but not limited to; monitoring construction throughout the life cycle, set up of the construction loans and budget into CLCS, the disbursement of construction loan draws within established budget, the 2nd review of all data entered in CLCS and review of Construction Loan Agreement and its Budget. This position is also responsible for sampling review of the portfolio, CLCS system set up, user acceptance testing and training.

Responsibilities

• Review the CCR and loan agreement ensuring proper terms and budget are within the approved credit.
• Enter new construction loans in the CLCS 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.
• Perform 2nd review quality control of all loan set up in CLCS
• 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 use of borrower's soft cost funds and disbursing funds 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, appraisal department, construction services, accounting and etc.
• Obtain documentation for pending loan packages for Cost Review
• Review and approve end of day balancing for all associates
• Respond to internal inquiries on the above processes
• Develop training plans and deliver training for all associates
• Develop internal procedures and workflow for the team
• Prepare 1099 year end reporting
• Perform system update and user acceptance testing for new releases / enhancement
• Support other projects as assigned

Qualifications

Compensation

The base pay range for this position is USD $70,000.00 / Yr. - USD $90,000.00 / Yr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.