Construction Disbursement Specialist

Overview The Construction Disbursement Specialist III is responsible for the servicing of complex Commercial Construction Project and Construction Loans such as Syndication & Bonds with activities including but not limited to; set up of the construction loans and budget into CLCS, the disbursement of construction loan draws within established budget, the 2nd review of all data entered in CLCS and review of Construction Loan Agreement and its Budget. Responsibilities Review the CCR and loan agreement ensuring proper terms and budget are within the approved credit. Enter new construction loans in the CLCS system and set up appropriate budget. Ensure the new loan set up line item budgets are in accordance with the credit approval and Construction Loan Agreement. Review the disbursement draw request to the specific line item in the budget ensuring funding within the budget. Perform 2nd review quality control of all loan set up in CLCS Perform 2nd review of disbursement ensuring proper approval and reconciliation Obtain approval for budget change request line item Reconcile borrower’s construction loan budget to the bank’s records Process construction loan disbursements Prepare DDA, Wire , or Reference transactions and enter in CLCS. Obtain title insurance date down/change orders for draw request. Order third party inspection reports Track and follow up on receipt and approval of inspection and title date down reports. Monitor use of borrower’s soft cost funds and disbursing funds on borrower’s behalf. Monitor interest reserve adequacy on all accounts Monitor and reconcile Construction Loan Disbursement Report Maintain and monitor current property and general liability insurance for all files Interface with relationship managers, title companies, appraisal department, construction services, accounting and etc. Respond to internal inquiries on the above processes Perform End of Day Balancing Provide training to Junior Disbursement Specialist Participate in the establishment of procedures and workflow for the team Process all other miscellaneous activities as requested May perform other duties as assigned Qualifications Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work related experience Minimum 5 years of work experience in commercial real estate construction loan Administration Knowledge of complex construction finance with multiple phases Experience with complex loan structured including Syndication & Bond Thorough understanding of Construction Loan Agreement and its covenants and provisions relative to construction disbursement and budget Thorough experience with collateral perfection and Title Policies Construction Loan system experience required with CLCS knowledge preferred Proficient in Microsoft Office with advance Excel skills preferred Excellent written and verbal communication skills required Good organizational, analytical and problem solving skills Ability to handle multiple tasks with excellent attention to detail Ability to organize and maintain a high volume work environment Ability to adapt quickly to changes and perform in a fast paced environment Ability to build effective relationships as needed to effectively address issues and obstacles Applicants must have legal authorization to work in the United States. We do not offer visa sponsorship at this time. Compensation The base pay range for this position is USD $20.00/Hr. - USD $37.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location. #J-18808-Ljbffr East West Bank