Colorado Springs, CO / Denver, CO
Job Title: Construction Loan Specialist
Business Line: Loan Operations
Reports To: Loan Operations Manager
FLSA Status: Non- Exempt
Approved By: Cheryl Dukeman – EVP/Bank Operations
Approved Date: December 18, 2020
Our mission is to establish long term, mutually beneficial financial relationships with our customers, team members and community.
- Recruit, reward and retain a team of market leading professionals
- Collaborate with customers to analyze and understand their financial challenges and opportunities
- Develop and provide access to a unique set of financial solutions
- Directly engage in community social, educational, and philanthropic activities
Responsible for the acceptance, review, and funding of loan disbursements on construction projects in accordance with bank and any other applicable policy such as SBA. This position will work in conjunction with the loan officer, borrower, Title Company, Construction Company, and other third-party vendors to insure timely and accurate processing of disbursements.
KEY FUNCTIONS AND RESPONSIBILITIES:
- Maintain current knowledge and consistent compliance with all Bank regulations, policies and procedures related to the position including those related to the Bank Secrecy Act (BSA) and consumer lending.
- Review assigned construction loan files to determine and collect information required for disbursements
- Attend pre-construction meetings with lender, borrower, title company, and construction company to relay expectations for orderly disbursements.
- Prepare and update, in a timely manner, all tracking logs and advance forms required for construction draws.
- Process disbursements in accordance with Bank policy and, when applicable, SBA policy.
- Review disbursement packages to confirm completeness of the submission and collect any missing items.
- Send a list of addresses needing an inspection each month to the inspectors assigned to each project.
- Order updated title searches, when applicable, to ensure no mechanics liens have been filed.
- Coordinate funding with title company or other entities as arranged and approved by Bank and borrower.
- Collect title endorsements and Lien Waivers
- Scan completed draw packages to the Bank’s electronic filing system and send copies to appropriate people as necessary, such as CDC’s or participating banks.
- Communicate effectively with all parties involved in the transaction.
- Handle customer service calls in a timely and professional manner.
- Assist management in defining and implementing policies and procedures.
- Complete all quarterly compliance training in a timely manner.
- Adhere to Farmers & Stockmens Bank compliance, security, and control procedures
- Pitch in where needed to ensure the success of the Bank.
POSITION TYPE / EXPECTED HOURS OF WORK:
This is a full-time position and normal hours of work and days are Monday thru Friday 8:00 a.m. to 5:00 p.m. Evening and weekend hours will be required to meet set deadlines.
Travel may be required for training or special projects.
This job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee in this type of position. Duties, responsibilities, and activities may change at any time without notice.
REQUIRED EXPERIENCE & BACKGROUND:
- Bachelor’s Degree or relevant work experience.
- 2+ years of experience of construction loan draw processing.
- Proficient in word processing and spreadsheets (Word & Excel)
- Strong organization skills.
- Ability to work independently and as part of a team.
- Exceptional communication skills (verbal, writing, listening).
- Strong attention to details, accuracy, time management.
- Must be or become a Notary Public for the state of Colorado
- Self-driven and able to work in an environment with limited definition.
- Strong multi-tasker.