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Construction Loan Administrator

Company: ConnectOne Bank
Location: Union
Posted on: September 18, 2022

Job Description:

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. Key Responsibilities

  • 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 Borrower.
  • Forms an alliance with relationship manager to provide excellent service to customer base with timely communication of all issues.
  • 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 files.
  • 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 loans.

    • General knowledge of the construction lending industry.
    • Excellent knowledge of appropriate regulations and guidelines.
    • 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. Skills
      • Excellent communication and interpersonal skills.
      • Attention to detail with ability to prioritize in a high-volume environment.
      • 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. Other Requirements
          • 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 experience. PI190283089

Keywords: ConnectOne Bank, Union , Construction Loan Administrator, Professions , Union, New Jersey

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