CRE Construction Loan Administrator at Hancock Whitney in new orleans, Louisiana

Job Description:

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JOB FUNCTION / SUMMARY:

This position is primarily responsible for administering construction related aspects of the loan closing and construction funding process for all commercial construction loans.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Ensures all required documentation related to the construction component of new loans is obtained prior to loan closing, including but not limited to construction and architect/engineer's contracts, construction budgets, and other documentation required by Policy and the Credit Approval.


• Analyzes various construction data and inspection reports, draws conclusions, and reports findings. Identifies inadequacies or missing documentation pertaining to construction loan closings, construction loan draw requests, and retainage/final draw requests. Reports these findings to internal and external clients both verbally and in writing.


• Evaluates and recommends approval or denial of requests for funding; reports on the status of projects with respect to budget and timeliness for construction loan administration and risk management.


• Reviews reports prepared by outside consultants for compliance with Bank requirements and prepare internal memos advising lending officers of consultant's findings, disbursement of loan proceeds, or loan administration issues.


• Orders and reviews Title Updates ("date downs") from Title Companies; identifies and communicates issues to both internal and external partners for each construction draw request. Requires and maintains adequate documentation (date downs, lien waivers, bonding over liens) to ensure the Bank's mortgage is not adversely impacted during the construction process.


• Provides guidance on construction risk management procedures and supports compliance with Bank lending policies.


• Monitors compliance with the Construction Loan Policies. Obtains and documents proper approvals for waivers where applicable.


• Keeps up to date with changes to loan policies, procedures, and compliance rulings affecting real estate construction and administration.


• Ensures insurance requirements are met prior to closing a construction loan and throughout the construction period, including but not limited to ensuring appropriate Hazard Insurance is obtained at completion of the project.


• Develops a schedule to proactively track commercial projects under construction across the Bank footprint to ensure construction is progressing timely.


• Assists in training new CLA's.


• Assists with other administrative duties as needed.


• Performs all other duties/special projects as assigned.


• Incumbent is required to comply with all applicable federal, state, and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act.
  
  

SUPERVISORY RESPONSIBILITIES:

None.

MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:

• Bachelor's degree in a related filed or equivalent work experience


• 3-5 years of experience in construction administration, preferably at a financial institution


• Familiarity with standard construction forms and documents developed by the AIA and/or AGC, including contracts, schedule of values, change orders, etc.


• Knowledgeable about reviewing and interpreting contractor payment requests such as AlA Documents G702 & G703 Applications and Certification for Payment and invoices.


• Knowledgeable about Title Insurance updates (Date Downs) and lien waivers/bonds


• Advanced knowledge of loan policy and procedures related to specific areas of responsibility


• Advanced knowledge of UCC collateral categories


• Familiarity with banking and finance (some experience preferred)


• Proficiency in Microsoft Office products including Microsoft Word, Excel, PowerPoint and Outlook email program; Ability to learn or knowledge of the Bank's operating systems and other information systems


• Knowledgeable with Insurance Regulations and standard Bank construction insurance requirements, including but not limited to Flood Insurance and Builder's Risk Insurance


• Familiarity with real estate appraisals


• Ability to work under pressure to meet deadline


• Ability to communicate effectively orally and in writing using the English language; Ability to write routine reports and correspondence; Ability to speak effectively with customers or employees of organization


• Ability to deal with high dollar transactions and with matters of considerable complexity in analyzing requests.

ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:

• Ability to work under stress and meet deadlines


• Ability to read an interpret documents


• Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.

Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.