Manager, Construction Loan Administration

Valley Bank; Morristown (NJ); Hybrid; USD 90,000 - 140,000; Full time

Job summary

Valley Bank is seeking an experienced Construction Loan Administrator to oversee the administration of commercial construction loans and loan advances. You will monitor projects from start to finish, review estimates and agreements, and ensure compliance with credit conditions and regulations.

The role requires managing two sites with on-site and remote staff, building key vendor relationships, and driving process improvements across the department.

Qualifications

• Experience in construction lending and commercial loan operations.
• Ability to manage large teams on-site and remotely.
• Strong communication, analysis, and risk management mindset.
• Knowledge of construction lien laws in NJ, NY, FL and AL.
• Proficiency with MS Word and Excel; attention to process discipline.

Responsibilities

• Administer all commercial construction loans and processing of advances and maintain contract/file information.
• Monitor construction projects from inception to completion.
• Analyze construction cost estimates and review loan commitments and agreements for compliance.
• Oversee inspection reports to ensure loan documentation and bank regulations compliance.
• Validate municipal approvals and construction requirements have been met.
• Manage two construction loan administration sites and supervise staff, including coaching and reviews.
• Maintain vendor relationships with inspection firms, outside counsel, and title companies.
• Improve department service levels and processes for efficiency.

Skills

Construction lending

Team management

Process improvement

Communication skills

Risk management

Microsoft Office

Education

High school diploma or GED

Bachelor's degree preferred

Tools

Microsoft Excel

Job description

Responsibilities Include, But Are Not Limited To

• Responsible for the Administration of all Commercial Construction Loans and the processing of all construction loan advances as well as the upkeep of contract and file information.
• Monitor commercial construction projects from inception to completion.
• Analyze construction cost estimates.
• Review construction loan commitment letters and construction agreements assuring compliance with approved construction credit conditions.
• Oversee the review construction inspection reports prepared by outside vendors for single family residential, site improvement work and vertical commercial construction projects to ensure compliance with loan documentation as well as bank regulations.
• Validate that all municipal approvals and construction requirements have been met.
• Manage construction loan advance function insuring conformance with loan documentation.
• Attend bank meetings relating to commercial loans and follow up on any outstanding issues.
• Comprehensive oversight of all construction loans in the commercial bank.
• Management of two construction loan administration sites and all employees including hiring, coaching/development, performance reviews and disciplinary action.
• Manage vendor relationships with inspection firms, build and maintain relationships with outside counsel and title companies.
• Manage the department's service levels (to line, loan operations, appraisal, and risk functions) and ongoing relationships within the bank.
• Continually look for ways to improve process to make them more efficient and effective.

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Required Skills

• Experience in construction lending.
• Strong experience in process-oriented areas of organizations, ideally banking (commercial loan operations).
• Ability to manage large teams both on-site and remotely.
• Ability to communicate effectively with business partners as a control function, balancing the need to accommodate customer (internal and external) needs, with process discipline and a risk management mindset.
• Strong understanding of the construction lien laws of New Jersey, New York, Florida and Alabama (primary markets), and awareness of laws in other geographies in which Valley does business.
• Strong analytical skills.
• Ability to handle multiple projects simultaneously.
• Proficient in Microsoft Office, specifically Word and Excel.
• Strong communication skills both written and oral.
• Valid Driver's License.

Required Experience

• High school diploma or GED and minimum of 10 years work experience, preferably in the operations area of a financial institution.
• Commercial real estate loan experience, and especially construction loan administration experience a huge plus.
• Bachelor's degree preferred.