Construction Loan Administrator

1114 Avenue of the Americas, NYC, NY, 10036 Company Description For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive. Job Description Job Summary Loan administration of complex construction loans; mostly commercial, part residential and land development loans. Responsibilities Administer construction loan portfolio. Process loan advances and reductions, track insurance, quote payoff figures, and apply interest payments. Construction monitoring of both commercial and part residential loans. Set up monitoring workbooks with loan specific draw schedules for complex loans. Coordinate all site inspections for loan draws relating to the construction loans and title bringdowns. Ability to establish draw schedules and budget tracking using workbooks/systems based on the requirements of the loan approval, loan documents, and construction contract, if applicable. Careful review of draw request to identify possible budget problems, and elevate to supervisors with recommendations for resolution. Review inspection reports and documents for accuracy, and for conformance with the budget, loan approval, and Loan Agreement. Approve draws jointly with Relationship Managers. Update ledgers, budgets, and the funding log. Work with title company to obtain Partial Satisfaction Certificates for processing within 30 days of receipt of payment. Prepare quarterly Project Status Reports for review by, and signature of the loan officer. Understanding of AIA construction documents, and the ability to identify and elevate issues contrary to documentation. Backup other Administrators in their absence. Qualifications Bachelor’s degree in Business preferred. Minimum of 3 - 5 years of relevant experience. Proficient in Word and Excel. Strong attention to detail and accuracy. Exercise sound judgement, and excellent independent decision-making skills. Excellent communication and organization skills. Provide excellent customer service to both internal and external customers. Familiar with LoanIQ or similar loan system preferred. Ability to adhere to set turnaround time on all draw requests Compensation The expected annual salary for this position is between $80,000 and $110,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement. Additional Information The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank: Those with a known mental or physical disability. Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions. Victims of domestic violence, sex offenses or stalking. Employees with religious observance and practice obligations. Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer. The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law. Disclaimer The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed. All your information will be kept confidential according to EEO guidelines. We are operating on a Hybrid schedule. Equal Employment Opportunity IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. 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