Construction Loan Operations Specialist

2 weeks ago


Chicago, Illinois, United States Byline Bank Full time

The Construction Loan Operations Specialist plays a crucial role in overseeing the management of loan processing and documentation for construction financing. This position addresses operational challenges to ensure effective and economical resolutions.

Key Responsibilities:

+ Assist in the analysis and preparation of construction draw requests and necessary documentation for construction loans.

+ Support the funding process for construction draws and respond to inquiries from clients, loan officers, and title companies regarding funding availability and approvals.

+ Analyze and reconcile construction budgets to assess variances and estimated completion costs, ensuring compliance with loan agreements. Communicate findings to the Credit Administration Manager and/or Loan Officer.

+ Review Sworn Owner and Contractor Statements, invoices, and lien waivers.

+ Coordinate with inspecting architects for plan evaluations and monthly inspections, and review their reports and assessments.

+ Evaluate and accept property and builders risk insurance from property owners, along with general liability and workers' compensation insurance from contractors as required.

+ Act as a liaison among title companies, inspecting architects, loan officers, borrowers, attorneys, and general contractors.

+ Provide backup support for other collateral monitoring tasks as needed.

+ Perform additional duties as assigned.

Qualifications:

+ Bachelor’s degree in Business Administration, Finance, or a related field.

+ A minimum of 3 years of experience in construction loan administration within a financial institution.

+ Strong understanding of construction loan principles.

+ Excellent analytical skills.

+ Proficiency in Microsoft Office Suite (Word, Excel, Outlook).

+ Ability to collaborate effectively with various stakeholders at all levels.

+ Self-motivated with a keen attention to detail.

+ Strong organizational, planning, and change management skills.

+ Exceptional written and verbal communication abilities.

Work Environment:

This role typically operates in a standard office setting, involving frequent sitting, walking, and standing, along with occasional physical activities such as climbing or kneeling. The position requires frequent use of office equipment and effective communication skills.

Compensation:

Byline Bank offers competitive salary ranges with the aim of attracting and retaining talented professionals. The salary for this position is based on various factors, including education and experience. In addition to salary, Byline Bank provides a comprehensive benefits package, including incentive programs, stock purchase options, and 401k contributions, subject to eligibility requirements.

Byline Bank is dedicated to maintaining an equal employment opportunity environment, ensuring a workplace free from discrimination and harassment. All employment decisions are made based on business needs and individual qualifications, without regard to any protected characteristics.



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