Senior Construction Loan Administrator - Commercial Mortgage Warehouse

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GENERAL FUNCTION:

The Senior Construction Loan Administrator is responsible for balancing loan draws and at times reviewing equity contributions. Projects assigned to this role are complex commercial construction loans in nature and require attention to detail and experience to review and recommend funding on loans of a large size. Primary responsibilities include the management and identification of construction risks associated with commercial construction loan disbursements by completing a detailed analysis of project budgets, review sufficiency of supporting documentation and determine whether the loan remains in balance. This critical review allows the bank to track the project's progress as to the scheduled delivery and approved budget while ensuring the project is completed lien free so that the bank's collateral position is preserved. Responsible for identifying non-compliance with loan documentation and Commercial Real Estate Policy and Procedures.

Draws balancing is handled accordingly within established department templates and overall project tracking in department SharePoint site. At the time of each draw, required to perform timely review of draw package received from borrower and GC, supporting documentation, inspection report and title endorsement. Raise budget fluctuations and documentation inconsistencies along with required next steps needed to move draw forward with borrower while keeping line of business partners and assigned Construction Loan Project Manager informed.

The role is responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Review budgets confirming that the sources of funds and loan commitment are sufficient to complete project.
• Identify and communicate with Construction Loan Project Manager the progress of construction projects and issues that may need to be addressed, such as budget increases, mechanic's liens, equity needs and project delays.
• Identify documentation required pursuant to loan documentation, verify and review to insure appropriateness.
• Recommend approval to Construction Loan Project Manager for commercial construction loan disbursements for all types of projects originated by all lines of business.
• Ability to identify incomplete loan packages and work with different draw formats and forms. Be able to openly communicate with customer to correct deficiencies.
• Ability to prioritize pending work for multiple projects related to the review and approval of commercial real estate construction loan closings and advance. Be a resource and provide guidance to the CLA team members and business partners.
• Order and review title updates or endorsements, as applicable, identify exceptions and pursue remedies to remove exceptions. Ensure all appropriate lien waivers are collected, reviewed for accuracy and seek corrections if necessary.
• Review inspection reports, identify issues and elevate to Construction Loan Project Manager, Line of Business and Credit Risk Partners as necessary.
• Monitor changes by line item in the project budget and contractor payment applications and pursue explanations to budget changes and determine if changes are acceptable. Determine if interest reserve and contingency line items remain adequate.
• Responsible for identifying early warnings signs of fraud or project changes that may impact the completion of project on time and within budget.
• Coordinate with internal partners on tax credit, syndicated and/or participated loans to insure loans are funded timely. Address participant questions or concerns and elevate issues as appropriate to avoid funding delays.
• Accurately complete all internal forms needed for disbursements and tracking.
• Responsible for establishing and managing construction files along with making sure loans are properly set-up, coded and updated on the commercial loan systems as well as in CLA SharePoint.
• Process interest payments timely and complete interest reserve reporting for management.
• Responsible for ensuring timely payments to outside vendors engaged in the disbursement process.
• Ensure current and accurate information for all portfolio reporting prepared for Management.
• As requested, supply information for internal and external audits.
• Knowledgeable of the Commercial Real Estate Policies and Procedures- Review and interpret loan documents. Identify deviations from policy.
• Mentors and develops more junior team members.

SUPERVISORY RESPONSIBILITIES: May have some responsibilities for supervising level I & II incumbents.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Undergraduate degree in Business or Accounting or equivalent related work experience.
• 7+ years administering complex commercial construction loan disbursements or related commercial real estate experience that ideally includes Commercial Mortgage Warehouse.
• Proven ability to identify construction risks and present solutions to mitigate risks on all project types.
• Clear and articulate oral and written communication skills.
• Requires understanding of internal operation functions and commercial real estate lending.
• Experienced problem solver and in-person customer service.
• Process and prioritize multiple tasks and large volumes under firm deadlines.
• Manage details, approach work in a highly systematic way, and have a high commitment to accuracy.
• Proficient in basic software applications such as Microsoft Word and Excel. Proficiency with the banks internal applications is a plus.
• Has the ability to learn automated data analysis tools and techniques.
• Ability to execute with minimal to no supervision required.

All the above duties and responsibilities are essential job functions for which reasonable accommodation will be made. All job requirements listed indicate the minimum level of knowledge, skills and/or ability deemed necessary to perform the job proficiently. This position description is not to be construed as an exhaustive statement of duties, responsibilities or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodation.

At Fifth Third Bank, we understand the importance of rewarding our employees for their hard work and dedication, therefore, our Total Rewards offering includes a differentiated compensation package and comprehensive benefits.

Benefits:

Our benefits programs are designed to support the health, happiness, and financial well-being of our employees and their families. Your benefits will include access to comprehensive medical, dental, and vision coverage, a 401(k) plan and employee stock purchase plan that both offer a generous employer match, flexible paid time off, comprehensive leave programs, and unique benefits to support your overall mental and physical wellness. For additional details, please contact your recruiter.

Compensation:

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the US. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.