Servicing Associate Sr, Construction, CPF

Servicing Associate Sr, Construction, CPF

The Servicing Associate Sr, Construction, CPF is responsible for the day-to-day administration of highly structured commercial real estate transactions including construction loans, mezzanine loans, participated facilities, complex commercial revolving lines of credit, multiple asset collateral pools & monthly cash flow waterfalls. The Servicing Associate Sr coordinates all processing and funding activities with respective internal and external parties to ensure efficient loan boarding, disbursement processing and all other monetary activities associated with the assigned portfolio. This role must be able to manage funding deadlines while maintaining a high level of accuracy, good general knowledge of mezzanine & CRE specialty financing.

Essential Duties and Responsibilities :

1. Responsible for ensuring strict adherence to policies and regulatory requirements for loan and legal documentation and with regard to the funding and administration of Commercial Real Estate.

2. Proactively review, as applicable, draft loan agreements, budgets, 3rd party reports and other relevant due diligence materials, prior to closing, to become familiar with deal terms and identify any potential loan administration issues.

3. Coordinate all post-closing activities associated with construction draw request including set-up of budgets, ordering and reviewing title endorsements, field inspections, invoices, lien releases, set asides, performance bonds, change orders, etc.

4. Receive and intensively review funding packages for accuracy and completeness in accordance with internal policy guidelines. Ensure that loan and project budget(s) are in balance, at all times, and that the loan has sufficient availability.

5. Review loan payment invoices, as needed, for accuracy and process loan payments.

6. Perform thorough review of loan documents and servicing agreements for mezzanine backed loans in order to accurately manage loan sources & uses, manage debt service payments and monitor reserves.

7. Advise lines of business, customers and lenders of any operational risks that are foreseen.

8. Review and ensure all appropriate loan fees are accurately calculated, collected, distributed and applied to the loan system.

9. Ensure borrowers & guarantors timely provide all pending required financial compliance items as reflected in the loan documents, and such items are in compliance with financial covenant requirements.

10. Review and approve complex monthly waterfalls, and accurately analyze cash management accounts utilizing remittance reports and income statements for the portfolio of loans assigned. Timely escalate any cash flow shortfalls noted and ensure that the borrower funds same if existing reserves / escrows are insufficient.

11. Balance timely responsiveness to business needs with effective risk management of assigned loans. This duty is performed as needed.

12. Escalate material concerns about individual loans to management.

13. Participate in cross-training for other servicing functions, and assist in workflow improvements & reporting as requested by management.

14. Completes required BSA / AML training and other compliance training as assigned.

15. The ability to work in a constant state of alertness and in a safe manner.

16. Perform any other related duties as required or assigned.

Qualifications :

To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and / or ability required.

Education and Experience :

Broad knowledge of such fields as accounting, marketing, business administration, finance, etc. Equivalent to a four year college degree, plus 9 to 10 years related experience and / or training, and 19 to 23 months related management experience, or equivalent combination of education and experience.

Communication Skills :

Ability to effectively communicate information and respond to questions in person-to-person and small group situations with customers, clients, general public and other employees of the organization.

Mathematical Skills :

Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts such as fractions, ratios, and proportions to practical situations.

Critical Thinking Skills :

Ability to utilize common sense understanding in order to carry out written, oral or diagrammed instructions. Ability to deal with problems involving several known variables in situations of a routine nature.

Software Skills Required :

Advanced : Spreadsheet

Intermediate : 10-Key, Accounting, Alphanumeric Data Entry, Word Processing / Typing

Basic : Contact Management

Responsibility for Work of Others :

Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities may include but not limited to interviewing, hiring and training employees; planning, assigning and directing work; appraising performance, rewarding and disciplining employees; addressing complaints and resolving problems.

Working Conditions :

Normal working conditions as found within an office setting, wherein there is controlled temperature and a low noise level, plus a minimum of distractions.

Environmental Conditions :

The following work environment characteristics described here are representative of those an employee encounters while performing essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually moderate.

Physical Activities :

The following physical activities described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.

Moderate diversity, low physical. Work activities which allow for a moderate amount of diversity in the performance of tasks which are not as varied as those positions with high-level diversity and decision-making. While performing the functions of this job, the employee is continuously required to talk or hear; regularly required to sit; frequently required to use hands to finger, handle, or feel; and occasionally required to stand, walk. The employee must occasionally lift and / or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Additional Information :

• 9+ Years of Client Relationship / Customer Management - 9+ Years of CRE Credit related work, including construction lending - Management of real estate construction loans or projects - Prior experience with administering complex commercial revolving lines of credit, highly structured waterfalls and multiple asset collateral pools strongly preferred - Working knowledge of mezzanine financed / participated construction loan facilities - Strong analytical skills with proficiency in Excel and Word - Strong attention to detail - Demonstrated ability to coordinate multiple activity streams within tight timelines - Understanding of real estate construction, lending and credit concepts - Client relationship / customer service - Ability to communicate ideas (written and oral) clearly and concisely - Ability to work independently and responsibly with little supervision and instruction, but also work well in a team oriented environment