Recent Searches

You haven't searched anything yet.

1 Construction Loan Administrator - Clinton, NJ Job in Clinton, NJ

SET JOB ALERT
Details...
Unity Bank
Clinton, NJ | Full Time
$92k-135k (estimate)
6 Months Ago
Construction Loan Administrator - Clinton, NJ
Unity Bank Clinton, NJ
$92k-135k (estimate)
Full Time | Banking 6 Months Ago
Save

sadSorry! This job is no longer available. Please explore similar jobs listed on the left.

Unity Bank is Hiring a Construction Loan Administrator - Clinton, NJ Near Clinton, NJ

Position Summary

The Construction Loan Administrator supports the commercial closing department and is responsible to process, and maintain files related to construction draw requests and disbursements. A primary function of the role is clear communications with borrowers regarding disbursement requirements and timing and resolving any issues related to inspections and other draw logistics. The Construction Loan Administrator is responsible to ensure draw packages are complete and accurate prior to draw approval and disbursement. This function requires critical thinking to resolve issues in a timely manner and ownership of a personal pipeline of borrower relationships, construction projects, and draw requests.

Essential Functions

  • Responsible for confirming loan was properly established on the Bank's system by Loan Booking, creates disbursement files and follows up for any post-closing construction related documents.
  • Prepare and process loan advances and escrow draw requests in accordance with the loan documents and 3rd party reports. This will include communications with borrowers, Contractors, vendors, and other 3rd parties to obtain and validate the required information.
  • Reviews loan approval documents, construction loan agreements and Construction Consultants' plan & cost reports to ensure proper loan administration. Reviews borrower's monthly requisition for accuracy and compliance with approved loan and funding budgets to coordinate monthly advances with borrower, site inspector, and title company.
  • Addresses and communicates issues, stoppages, or slow pace of construction with manager, loan officer, and, when applicable, Borrower and Contractor, and ensures resolution.
  • Identifies and documents projects that are behind schedule and that fail to complete by the original loan maturity date. Monitors and communicates project status and schedule and ensures resolution of issues.
  • Follows established policies and procedures and using knowledge of construction loan process, conducts evaluations and draw conclusions to make recommendations for loan disbursements.
  • Create and organize files for each loan transaction and maintain/update reports associated with loan advances and reserve accounts.
  • Establishes individual disbursement spreadsheets with approved budgets, funding criteria, loan allocations and re-allocations; Prepares Loan Advance Worksheets for draws and advances against construction loans; ensures all sources and uses of funds are all in balance and that all funds on deposit have been exhausted before loan proceeds are advanced and that equity requirements have been met.
  • Analyzes and Reconciles Construction Loan Report monthly. Works with loan officers to obtain and keep track of any updates pertaining to each construction loan.
  • Respond to customer requests and resolve customer problems.
  • Additional duties as requested by Closing Manager.

Additional Functions

  • Assist in preparing loan memos for loan extensions, as necessary.
  • Perform the loan closing function on smaller loan deals when requested.

Job Requirements and Qualifications

  • Knowledge of Bank policies, procedures, and banking regulations
  • Strong analytical, organizational, and verbal and written communications skills.
  • Detail-oriented.
  • Ability to be a team player.

Education and Experience

  • Associate degree in finance, business, or equivalent course of study preferred or equivalent experience leading to development of comparable knowledge and skills in lieu of formal academic credentials in finance, business, or equivalent course of study.

Knowledge, Skills, and Abilities

  • Knowledge of Abrigo, Fiserv, or similar systems/software.
  • Excellent computer skills in a Microsoft Windows environment including proficiency in Word and Excel.
  • Excellent reading comprehension skills.
  • Ability to write legibly.
  • Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, and area. Ability to apply concepts of basic algebra.
  • Ability to read, analyze, and interpret legal documents, governmental regulations, and professional publications.
  • Ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the public.
  • Ability to apply common sense understanding to carry out written and oral instructions.
  • Ability to deal with problems involving several concrete variables in standardized situations.
  • Ability to work in a structured environment within established procedures.

Physical Requirements

  • Ability to sit for long periods of time up to 75% of work hours.
  • Ability to use hands to grasp, handle or feel.
  • Ability to reach overhead to retrieve folders from filing cabinets.
  • Ability to use computer keyboard and system to enter data and process information.
  • Ability to talk, listen and see.
  • Ability to use telephone to communicate with customers and employees.
  • Ability to lift at least 15 pounds daily.
  • Ability to use office equipment such as teller scanner, personal computer, telephone, Blackberry, copier, fax machine, adding machine, etc.

Working Conditions

  • Moderate sound as in business office with office machines, computers, and people traffic.

All qualified applicants will receive consideration for employment without regard to race, color, age, religion, gender, sexual orientation, gender identity, national origin, protected veteran status or disability.

This job description is not an employment agreement or contract, implied or otherwise. Unity Bank maintains "at will" employment.

This document describes the position currently available. It is intended to convey information essential to understanding the scope of the position and is not an exhaustive list of skills, efforts, duties, responsibilities or working conditions associated with it. Unity Bank reserves the right to modify duties or job descriptions at any time. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities at any time. Individuals may perform other duties as assigned, including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload.

Unity Bank is committed to the principles of equal employment opportunity and prohibits discrimination in hiring, promotion and terms and conditions of employment on the basis of race, creed, color, national origin/nationality, ancestry, religion/religious practices or observances, age, sex, gender identity or expression, affectional or sexual orientation, marital status, civil union status, domestic partnership status, disability or perceived disability, atypical hereditary cellular or blood trait, genetic information, and status as a veteran or disabled veteran of, or liability for service in, the Armed Forces of the United States.

Unity Bank commits to making reasonable accommodation to the known physical or mental limitations of qualified individuals with disabilities and qualified disabled veterans provided the individual can perform the essential functions of the job, unless such accommodation would impose an undue hardship upon Unity Bank. A qualified employee or job applicant with a disability may request a reasonable accommodation by contacting Unity Bank's human resources department.

Job Summary

JOB TYPE

Full Time

INDUSTRY

Banking

SALARY

$92k-135k (estimate)

POST DATE

09/02/2022

EXPIRATION DATE

12/31/2022

WEBSITE

unitybank.com

HEADQUARTERS

UNION, NJ

SIZE

200 - 500

FOUNDED

1991

TYPE

Public

CEO

JOHN CELMER

REVENUE

$50M - $200M

INDUSTRY

Banking

Related Companies
About Unity Bank

Unity Bank provides commercial banking services to retail, corporate and small businesses.

Show more

Unity Bank
Full Time
$66k-81k (estimate)
1 Week Ago
Unity Bank
Full Time
$68k-88k (estimate)
1 Week Ago
Unity Bank
Full Time
$170k-253k (estimate)
1 Week Ago

The job skills required for Construction Loan Administrator - Clinton, NJ include Construction Loans, Written Communication, Banking Regulations, etc. Having related job skills and expertise will give you an advantage when applying to be a Construction Loan Administrator - Clinton, NJ. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Construction Loan Administrator - Clinton, NJ. Select any job title you are interested in and start to search job requirements.

For the skill of  Written Communication
Mindlance
Full Time
$43k-56k (estimate)
1 Day Ago
For the skill of  Banking Regulations
FIRST COMMERCE BANK
Full Time
$81k-104k (estimate)
6 Days Ago
For the skill of  Construction Loans
Bank of Franklin County
Full Time
$35k-45k (estimate)
5 Days Ago
Show more

The following is the career advancement route for Construction Loan Administrator - Clinton, NJ positions, which can be used as a reference in future career path planning. As a Construction Loan Administrator - Clinton, NJ, it can be promoted into senior positions as a Construction Loan Manager that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Construction Loan Administrator - Clinton, NJ. You can explore the career advancement for a Construction Loan Administrator - Clinton, NJ below and select your interested title to get hiring information.