- Help responsible for the analyzing and preparation of construction draws / disbursement requests and forms required for construction loans.
- Assists with funding the construction draws / disbursement requests and for handling the general inquiries and questions from customers, loan officers, and title companies concerning the construction draws / disbursements including funding availability, obtaining endorsements and approvals.
- Help analyzes and reconciles construction budgets to evaluate budget variances and estimated cost to complete. Verifies compliance with loan covenants. Communicates the results of the analysis to the Credit Administration Manager and/or Loan Officer.
- Help analyze and review Sworn Owner and Contractor Statements, Invoices, and Lien Waivers.
- Help engage inspecting architects for plan and cost review and monthly inspections. Review and approve inspecting architect reports and plan and cost reviews.
- Help review and accept property and builder's risk insurance from the property owner, and general liability insurance and workman's compensation insurance (if necessary) from the general contractor for construction loans.
- Serves as liaison between the title companies, inspecting architects, loan officers, borrowers, attorneys, and general contractors.
- Help support other collateral monitoring functions on a backup basis.
- All other duties as assigned.
- Bachelor's degree in Business Administration, Finance, or related degree.
- 3+ years construction loan administration experience within a financial institution.
- Working knowledge of construction loan concepts.
- Qualitative analytical skills.
- Knowledge of MS Suite of Products (Word, Excel, and Outlook).
- Ability to work collaboratively with a variety of stakeholders at all levels.
- Be self-motivated with a strong attention to detail.
- Have strong change management, organizational and planning capabilities.
- Strong written and verbal communication skills.
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Construction Loan Administrator - Chicago, United States - Byline Bank.
Description
Job Description
Job DescriptionObjective of Position:
The Construction Loan Administrator is responsible for helping with the maintenance of loan processing and documentation operations activities and administration. This role will help addresses operational issues to ensure they are resolved in an efficient and cost-effective manner.
Duties and Responsibilities:
Note: Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
Qualification:
Usual office environment with frequent sitting, walking, and standing, and occasional climbing, stooping, kneeling, crouching, crawling, and balancing. Frequent use of eye, hand, and finger coordination enabling the use of office equipment. Oral and auditory capacity enabling interpersonal communication as well as communication through automated devices.
Byline Bank offers competitive industry rate salary bands with the goal of retaining and growing talented individuals. We regularly review and adjust our compensation structure as needed to ensure equity across teams and levels.
The salary range for this position is $58,900 to $88,500. Pay is based on several factors including but not limited to education, work experience, certifications, etc. In addition to your salary, Byline Bank offers benefits such as, a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). No matter where or when you begin a career with Byline Bank, you'll find a far-reaching choice of benefits and incentives.
Byline Bank is committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions at Byline Bank are based on business needs, job requirements and individual qualifications, without regard to race, color, religion or belief, national, social or ethnic origin, sex (including pregnancy), age, physical, mental or sensory disability, HIV Status, sexual orientation, gender identity and/or expression, marital, civil union or domestic partnership status, past or present military service, protected veteran status, family medical history or genetic information, family or parental status, or any other status protected by the laws or regulations in the locations where we operate. Byline Bank will not tolerate discrimination or harassment based on any of these characteristics.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
