SR CONSTRUCTION LOAN ADMINISTRATOR

SR CONSTRUCTION LOAN ADMINISTRATOR

WHAT IS THE OPPORTUNITY?

The Construction Loan Administrator is responsible for the end-to-end servicing and administration of complex Commercial Construction loans and projects, including the monitoring of syndicated deals (agent or participant). This role requires strong technical knowledge of construction lending, loan documentation, title review, and budget management. The administrator ensures all construction loans are accurately set up, properly monitored, and serviced in accordance with the loan agreement, bank policy, and established timelines. Construction Loans with activities including but not limited to; monitoring construction throughout the life cycle, set up of the construction loans and budget, the disbursement of construction loan draws within established budget and review of Construction Loan Agreement and its Budget.

WHAT WILL YOU DO?

• Review the credit memo and loan agreement ensuring proper terms and budget are within the approved credit.
• Enter new construction loans in the system and set up appropriate budget for complex projects
• Ensure the new loan set up line item budgets are in accordance with the credit approval and Construction Loan Agreement.
• Review the disbursement draw request to the specific line item in the budget ensuring funding within the budget.
• Review and approve draws for disbursement
• Obtain approval for budget change request line item
• Reconcile borrower’s construction loan budget to the bank’s records
• Obtain title insurance date down/change orders for draw request.
• Order third party inspection reports, process invoicing and reconciliation
• Track and follow up on receipt and approval of inspection and title date down reports.
• Monitor the use of borrower’s funds and disbursing funds accordingly on borrower’s behalf.
• Monitor interest reserve adequacy on all accounts
• Monitor and reconcile Construction Loan Disbursement Report
• Maintain and monitor current property and general liability insurance for all files
• Interface with relationship managers, title companies, legal counsel, appraisal department, construction services, accounting and etc.

WHAT DO YOU NEED TO SUCCEED
Required Qualifications*

• Bachelor's Degree or equivalent
• Minimum 8 years experience in Construction Loan Administration/Commercial Real Estate

Additional Qualifications

• Previous experience in large financial institutions is preferred
• Recommended Experience: Prior closing experience, paralegal (i.e., understand legal language and docs), credit experience or understanding of experience
• Client facing presence
• Project Management skills, ability to prioritize tasks and adapt to changing priorities
• Organizational and time management skills
• Understanding of bank policies and procedures relating to the satisfaction of loan closing conditions, documents, and services

WHAT'S IN IT FOR YOU?
Compensation
Starting base salary: $34.55 - $55.19 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

ABOUT US

Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.

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