Construction Loan Disbursement Specialist

Fifth Third Bank; Charlotte (NC); On-site; USD 54,000 - 112,000; Full time

Job summary

Fifth Third Bank in Rosemont, IL is seeking a Construction Loan Administrator II to manage complex commercial construction loan disbursements and ensure lien-free collateral. You will analyze budgets, review documentation, and coordinate with the Construction Loan Project Manager and risk partners to address issues and approve disbursements.

Responsibilities include reviewing budgets, monitoring progress, ensuring proper documentation, and maintaining project files within loan systems and

Qualifications

• Undergraduate degree in Business or Accounting or equivalent related work experience.
• 3-5+ years administering complex commercial construction loan disbursements preferred.
• Strong customer service skills, an aptitude for numbers and budgets, a general understanding of loan documents and loan terms.
• Ability to identify construction risks and present solutions to mitigate risks on all project types.
• Strong verbal and written communication skills.
• Requires understanding of internal operation functions and commercial real estate lending.
• Proficient in basic software applications such as Microsoft Word and Excel. Proficiency with the banks internal applications is a plus.

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.
• 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.
• Ability to identify early warnings signs of fraud or project changes that may impact the completion of project on time and within budget.

Skills

Customer service

Numeracy

Budgeting

Loan documents understanding

Communication

Education

Undergraduate degree in Business or Accounting

Tools

Microsoft Word

Excel

Bank internal applications

Job description

Fifth Third Bank in Rosemont, IL is seeking a Construction Loan Administrator II to manage complex commercial construction loan disbursements and ensure lien-free collateral. You will analyze budgets, review documentation, and coordinate with the Construction Loan Project Manager and risk partners to address issues and approve disbursements.

Responsibilities include reviewing budgets, monitoring progress, ensuring proper documentation, and maintaining project files within loan systems and