Disbursement and Compliance Administrator - Philadelphia, United States - South Philadelphia Food Cooperative (SPFC)

South Philadelphia Food Cooperative (SPFC)

Verified Company

Philadelphia, United States

2 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

CAPACITY:

Create and sustain internal capacity and external partnerships to scale the availability and breadth of economic development resources and solutions.

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CAPITAL ACCESS AND SERVICES: Expand financing and business support services to benefit under-resourced communities and marginalized populations.
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LAND USE: Catalyze development of projects that create quality jobs, advance equity, and promote sustainability.
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KNOWLEDGE AND NETWORKS: Share knowledge and networks to respond to clients, partners, and market needs.
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EMPLOYEE WELL-BEING: Elevate the physical, mental, and financial well-being of PIDC employees and provide opportunity for each to thrive and grow professionally.

POSITION OVERVIEW AND RESPONSIBILITIES:

The _
Disbursement and Compliance Administrator_ works closely with members of the Lending Team, City Agencies, and clients to coordinate the review and approvals during the closing process and post-closing Disbursement process.

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Duties include, but are not limited to, the following_:

Review of loan documentation prior to closing.
Review all construction documentation for conformity to the Credit standards for construction loans. Contribute to establishing a detailed project budget and balanced sources and uses. Review and approve all closing disbursements.
Coordinate and review postclosing draw requests for accuracy, compliance, and completeness, including budget analysis and review of any change orders, review of inspection reports, confirmation of lien waivers, review for compliance with other requirements of the loan documentation, and with PIDC source of funds requirements.
Analyzes requests for funding against established budgets, sources, and uses, and identifies any exceptions. Review all draw request documentation in detail against approved requirements, including AIAs, inspection reports, lien waivers, and soft cost invoices. Make recommendations for funding as well as holdbacks, based on knowledge of the project and PIDC construction policies.
Maintain a balance between project costs and funding sources, ensuring the PIDC's risk is mitigated.
Review Inspection reports for accuracy and completeness of information provided. Follow up with external engineer and/or Site Inspector to make recommendations and resolve any issues or exceptions noted. Keep management abreast of status of the project and any issues.
Maintains internal record keeping of loan disbursements and project progress through input to PIDC's system of record. Ensure the accuracy and maintenance of customer records and files.
Coordinate processing of advances and repayments for the project with other Lenders, borrowers, and Accounting Department.
Develop strong understanding of commercial products and services, understand, and ensure adherence to PIDC's guidelines, policies, and procedures regarding construction loans. Maintain a general overall knowledge of the construction lending industry and a detailed understanding of appropriate regulations and guidelines.
Coordinate with appropriate governmental officials for borrower compliance with Federal (Davis-Bacon Act), Commonwealth (Prevailing Wages), or other governmental requirements as required.
Coordinate with and obtain approvals from third parties and other lenders as required.
Coordinate with PIDC Accounting team to process disbursements, and to appropriately account for and accurately document the disbursements in accordance with PIDC policies and procedures.
Create and maintain the disbursement audit trail and save all documentations on PIDC's system of record.
Attend Success Measures and CLOC Meetings to represent Portfolio Management.
Any other duties as assigned.
A B.A. or B.S. degree from an accredited college or university is required.
3 years or more of demonstrated relevant experience in government, real estate, or business finance.
Capacity and desire to function in a highprofile, publicsector environment.
Effective interpersonal skills, including a demonstrated ability to communicate effectively with management, colleagues, governmental agencies, the real estate marketplace, and the general public.
Demonstrated leadership skills and the ability to function as part of a larger team.
The combination of education and/or experience necessary to effectively perform the responsibilities of the position.
Must be a resident of the City of Philadelphia or willing to relocate within six (6) months of employment.