Job Information
Banterra Corp Construction Loan Administrator in Marion, Illinois
This job was posted by https://illinoisjoblink.illinois.gov : For more information, please see: https://illinoisjoblink.illinois.gov/jobs/12412522
CONSTRUCTION LOAN
ADMINISTRATOR SUMMARY
The Construction Loan Administrator contributes greatly to the integrity and efficiency of the
construction loan process, identifying credit risks, ordering inspections, and analyzing draw requests to
ensure compliance with approval terms. This administrator reconciles loan disbursements with budgets,
handles daily administration tasks, and ensures projects are completed on time and within budget.
The ideal candidate for this role should possess strong analytical skills, attention to detail, and proficiency
with construction loan management software. They should communicate effectively with internal and
external parties and be adept in identifying risks through careful documentation analysis and site
inspections.
This role significantly impacts the company by ensuring smooth operations and the financial integrity of
construction projects. By reviewing loan disbursements and maintaining compliance, the Construction
Loan Administrator helps mitigate potential losses and supports informed decision-making, contributing
to the company\'s success and stability.
All employees are expected to protect the information and assets of the organization through
heightened awareness of information security, cybersecurity, and risk management best practices, as well
as complying with all applicable laws, regulations, and organizational policies.
ESSENTIAL DUTIES
? Review construction projects to identify potential credit risks and ensure processes are in place to
mitigate those risks.
? Order and review inspections, title updates, subsequent surveys, and appraisals as needed.
? Analyze draw requests and ensure disbursements conform to the terms and conditions of approval
and recommendations of the inspectors report.
? Reconcile construction loan disbursements against construction budgets, including change orders
and site inspection results.
? Ensure all elements of the loan approval and Banks Loan Policy are complied with and obtain
necessary approvals in the absence thereof. Advise if items in the loan approval are insufficient such
as needing a subordination of lease or additional guarantor do to entity structure.
? Handle the daily aspects of the construction administration pipeline, including processing and
funding of draws.
? Ensure projects are completed on budget and in a timely manner by reviewing all relevant
documentation.
? Minimize the organizations risk and potential losses in all projects by maintaining a 72-hour draw turn
time and alerting management of material issues and/or deviations from policy and procedures.
? Utilize third-party construction loan management software to ensure draws are processed correctly,
project completion percentages are accurate, and the amount advanced under the construction loan
is in accordance with established policies, procedures, and guidelines.
? Regularly review, analyze, and process draw requests, budget reallocations, and collateral releases
for commercial real estate and/or multi-family construction loans based on project completion.
Ensure required information has been collected and submitted.
? Review requests to ensure funding of loan settlements and regular draw takedowns with the
appropriate internal departments.
? Identify critical risks or project setbacks through careful analysis of submitted documentation, such
as budget allocations, invoices, site inspections, and lien waivers.
? Review and monitor project plans, including budget spreadsheets, disbursement guidelines, draw
request reviews, and equity letters.
? Ensure all loan disbursements are in accordance with the original credit approval and any subsequent
deviations re approved by bank personnel with proper authority.
? Visit construction sites to document project completeness as necessary and/or directed.
? Report all audit findings as well as day-to-day occurrences within construction business lines.
? Prepare monthly construction reports tracking the progress of open construction loans and note any
overfunding or potential risk of loss.
? Monitor insurance escrow and construction escrow accounts for disbursement activity and work with
branches to ensure proper documentation is completed.
? Assume responsibility for additional projects and tasks as assigned.
EDUCATION & CERTIFICATIONS
? Bachelors degree in Business Administration, a related field, or a commensurate combination of
education and experience required.
? Direct experience with commercial and residential real estate projects, loan documentation,
appraisals, and inspections required.