Construction Loan Operations Specialist
2 weeks ago
The Construction Loan Operations Specialist plays a crucial role in overseeing the management of loan processing and documentation within the organization. This position is essential for addressing 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 necessary approvals.
- Analyze and reconcile construction budgets to assess variances and projected 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 for accuracy.
- Coordinate with inspecting architects for plan reviews and monthly inspections, and evaluate their reports and cost assessments.
- Review and accept property and builder's risk insurance from property owners, as well as general liability and workers' compensation insurance from contractors as needed.
- Act as a liaison among title companies, inspecting architects, loan officers, borrowers, attorneys, and contractors.
- Provide backup support for other collateral monitoring tasks as required.
- 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.
- Proficient 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 and planning skills, with adaptability to change.
- Exceptional written and verbal communication abilities.
Work Environment:
This position typically operates in a standard office setting, involving frequent sitting, walking, and standing, with occasional climbing and balancing. Regular use of office equipment is required, along with effective communication skills.
Byline Bank is dedicated to offering competitive salaries and benefits, including a comprehensive benefits package, incentive programs, and retirement contributions, all aimed at fostering a supportive work environment.
Byline Bank is committed to equal employment opportunities and maintaining a workplace free from discrimination and harassment. All employment decisions are based on business needs and individual qualifications, without regard to any protected characteristics.
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