Construction Loan Administrator
Company: ConnectOne Bank
Posted on: September 18, 2022
Position The Construction Loan Administrator is responsible for
administering and monitoring a commercial construction loan
portfolio through the detailed analysis of project budgets,
documentation review, and verification of funds for disbursement.
- Support the Bank's People First focus and rules of
engagement-maintaining a professional demeanor, working as an
active member of the CNOB team, providing all clients excellent
service, always striving to make CNOB A Better Place to Be.
- Analyzes requests for funding against established budgets,
sources and uses and identifies any exceptions.
- Reviews all advance request documentation in detail against
approved controls, including AIA's inspection reports, lien waivers
and soft cost invoices.
- Mitigates risk and maintains a balance between project costs
and funding sources.
- Works closely with borrower and line of business during the
construction loan term, and clearly communicates any changes to the
advance request or the need for additional information to the
- Forms an alliance with relationship manager to provide
excellent service to customer base with timely communication of all
- Reviews inspection reports for accuracy and completeness of
information provided, follows up with external engineer to resolve
any issues or exceptions noted.
- Maintains internal record keeping of loan disbursements and
project progress through input to CNOB's construction monitoring
system and ensures accuracy and maintenance of customer records and
- Coordinates processing of advances and repayments for the
projects in their portfolio.
- Develops an understanding of commercial products and services,
they will also understand and ensure adherence to company
guidelines, policies and procedures regarding construction
- General knowledge of the construction lending industry.
- Excellent knowledge of appropriate regulations and
- Knowledge of CNOB products and services.
- Familiarity with the bank's commercial real estate credit
policy and procedures.
- Knowledge of relevant Federal and State banking regulations.
- Excellent communication and interpersonal skills.
- Attention to detail with ability to prioritize in a high-volume
- Strong PC skills. Abilities
- Strong People First interest and ability.
- Aptitude for analysis, systems and mathematics.
- Ability to review and identify issues and make educated
recommendations for resolution within their scope of authority.
- Bachelor's Degree (B.A.) or equivalent degree from a two-year
college or technical school; or five years related experience
and/or training; or equivalent combination of education and
Keywords: ConnectOne Bank, Union , Construction Loan Administrator, Professions , Union, New Jersey
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