Construction Loan Administration Mgr I

Location: Grand Rapids
Posted on: November 4, 2024

Job Description:

GENERAL FUNCTION: Manage the Construction Loan Administration staff within Commercial Loan Fulfillment. Primary responsibilities include managing the risks of construction loans by reviewing project budgets, documentation, and verification of funds fordisbursement. Responsible for ensuring compliance with Bancorp policies and procedures. The focus of the construction administration process is to assess compliance with loan documentation and to insure loans are within budget to complete the project.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

* Manage overall procedures for commercial construction loan disbursements.

* Possess a working knowledge of the Commercial Construction loan policies of Fifth Third Bancorp and escalate all issues to appropriate parties.

* Supervise the disbursement of all commercial construction draw requests.

* Provide training to Construction Loan Administrators, new relationship managers, portfolio managers and other departments such as Public Funds and Middle Market.

* Ensure the Commercial Loan Draw Procedures manual is adhered to by all staff members.

* Communicate with relationship managers, portfolio managers, credit officers and other applicable internal areas the progress of construction project issues that may need to be addressed, such as budget shortfalls, mechanic#s liens, and equity issues.

* Communicate effectively with borrowers, construction management companies, title companies, architects, inspectors and participant banks on initial loan closings and subsequent draw transactions.

* Oversee the review of loan documentation applicable to the draw process; credit memos, notes, mortgages, construction loan agreements, and budget analysis.

* Oversee the daily performance of the Construction Loan Administrators including:

o The ordering of title exams and verification of lien position.

o Coordination of project inspections with external or internal inspectors.

o Analysis of hard costs with the application of payment from contractor AIA (G702/703).

o Monitoring of each line item in the project budget utilizing spreadsheets by verifying contract amount, change orders, equity, stored materials, authorized signatures, retainage, contingency and site work.

o Verification of soft cost invoices.

o Review and approve all commercial loan operations forms for disbursements.

o Ensure service level agreements are met by prioritizing all duties as needed.

o Monitor appropriate quantity of work for existing staff levels.

o Ensure consistent quality of work produced.

* Maintain accurate reporting of construction loan administration activities and volumes.

* Participate in and/or lead projects and teams within or on behalf of the Construction Loan or Loan Fulfillment team.

* Recommend changes to the process that minimize risk and improve customer service.

* Initiate review of Commercial Construction Policy and Procedures for appropriateness and understanding.

SUPERVISORY RESPONSIBILITIES: Responsible for providing employees timely, candid and constructive performance feedback. Developing employees to their fullest potential and provide challenging opportunities that enhance employee career growth. Developingthe appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.

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