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Loan Administrator II - Construction Support

POSITION SUMMARY

The position’s role is responsible for accurately administering a portfolio of construction loans and maintaining a courteous and beneficial liaison between customers, Relationship Managers and other outside professionals.  Job performance is evaluated on accuracy, timeliness, productivity and customer satisfaction.  The candidate selected will be expected to be work independently and will escalate situations as appropriate to Management. In addition to administering construction loans experience in closing loans would be beneficial.

 

  MAJOR JOB RESPONSIBILITIES

  • Prepares and reviews pre-closing documentation for commercial lending and/or commercial real estate construction loans.  Reviews loan approval documents, construction loan agreements and engineer’s plan & cost report to ensure proper loan administration.    Reviews borrower’s monthly requisition for accuracy and compliance with approved loan and funding budgets with the Relationship Manager to coordinate monthly advances with borrower, inspecting engineer and title company. Is responsible for loan set-up including completion of boarding sheets, calculation of required escrows, reserves and prepaid interest, preparation of general ledger debit and credit entries and initiating wire transfers.
  • Establishes individual loan spread sheets with approved budgets, funding criteria, loan allocations and re-allocations; review permitted release provisions within the loan documents.  Maintains loan spread sheets on a regular basis reflecting each funding, principal pay down and release consideration payment; follows up for written inspection reports and first lien certificate.  Updates related monthly construction loan report(s)     
  • Is responsible for confirming loan was properly established on the Bank’s system by Loan Operations, creates disbursement files and follows up for any post closing construction related documents. Knowledge of Horizon would be beneficial although not required.             
  • Coordinates and funds construction loan advances including participated and syndicated loans  Confirms monthly interest payments, insurance and tax payments are all current and in good standing.                
  • Analyzes and Reconciles Construction Loan Report on a monthly basis. Works with loan officers to obtain and keep track of any updates pertaining to each construction loan.
  • Responds to customer inquiries.  Updates department reports, including pipeline reports. 

 

SUPERVISORY RESPONSIBILITIES

       None                                                                                                                

 

SKILLS AND TRAINING

  • Extensive knowledge of Construction Mortgage Loan Administration requirements and ability to apply such knowledge.
  • Strong verbal, communicative and written skills.
  • Ability to manage heavy workflow, resolve problems with modest supervision, attend to detail and perform arithmetic calculations.
  • Proficient with Excel and Word.
  • Knowledge of Horizon Loan System helpful but not required.

 

  EDUCATION

       Bachelor’s degree

 

  WORK EXPERIENCE

       3 or more years     

 

WORKING CONDITIONS

       Work is mainly performed in a normal office environment.  Noise levels are usually moderate.

 

HAZARDS

       The hazards are mainly those present in a normal office setting.

 

This job description may not be all-inclusive.  Employees are expected to perform other duties as assigned and directed by management.  Job descriptions and duties may be modified when deemed appropriate by management.

 

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

 


About Provident Bank

For more than 180 years, Provident Bank has served individuals, families, and businesses in our local communities with personal and business banking services.

Volunteering is a Way of Life

Our brand promise - “Commitment you can count on” - supports the investments we make in the community and donations made by our employees. It’s a promise also reflected in the volunteerism of our employees, who lend time and talent and countless hours to assist hundreds of organizations and thousands of people and animals each year.

Why do we love it?

  1. We get to volunteer in areas that are meaningful to the bank and impactful in the community.
     
  2. Through generous contributions, we have raised over $28,000 in 2018. No item or donation is too small; we find a home for it all.


Nearest Major Market: New Jersey