Construction Draws Coordinator

Compeer Financial; Mankato (MN); Hybrid; USD 47,100 - 66,600; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

401k match

Wellness program

EAP

Hybrid work model

Job summary

Compeer Financial in Minnesota is seeking a Construction Loan Disbursement Specialist to monitor and process draws from start of construction to completion. You will ensure funds are disbursed accurately and timely to contractors, vendors and clients, while coordinating with Title Underwriter and internal teams.

The role offers a hybrid work model, primarily based in our Mankato, MN office, with some remote work.

Qualifications

• Knowledge of federal and state (Illinois, Minnesota, and Wisconsin) laws, regulations and compliance requirements specific to the financial industry and Farm Credit.
• Must have a complete understanding of construction loan requirements for residential and commercial development projects.
• Basic knowledge of lending disbursement processes, procedures and documentation.
• Strong computer skills, including Microsoft Office applications and customer relationship management (CRM) programs.
• Basic knowledge of standard construction budget practices and techniques.

Responsibilities

• Coordinates disbursement of funds and monitors construction funds after closing.
• Verifies all documentation is completed correctly and that the forms submitted are applicable.
• Examines draw request and all construction-related documentation to ensure that the invoice amounts, prior payments, current payments and balances correspond with documentation.
• Determines if a disbursement request payment should be made to the contractor or subcontractors for services based on review of sworn statement and documentation provided.
• Utilizes multiple system platforms to disburse funds (ex: ACH, Concur, Wires, etc.).
• Monitors, reviews and reconciles progress of construction against sworn statement budget line items to ensure project is on track.
• Sets up and activates construction project files.
• Schedules inspections with third party vendors or internal team members. Reviews completed inspection to ensure project is progressing or complete.
• Conducts Mechanic's Lien search via county website and judgment search on state applicable site.
• Actively reaches out to clients regarding projects that are delayed or not finished within timeframe indicated on the construction agreement.
• Identifies potential risks during construction, such as cost overruns or project delays and takes appropriate action.

Skills

Construction loan requirements

Disbursement monitoring

Lending documentation

CRM

Microsoft Office

Tools

CRM software

Excel

Job description

Compeer Financial in Minnesota is seeking a Construction Loan Disbursement Specialist to monitor and process draws from start of construction to completion. You will ensure funds are disbursed accurately and timely to contractors, vendors and clients, while coordinating with Title Underwriter and internal teams.

The role offers a hybrid work model, primarily based in our Mankato, MN office, with some remote work.