Job Title
Construction Lending Specialist II
Department :
Construction Credit Administration
Reports To :
Construction Lending Manager
Overtime Exemption : Non-Exempt
Kennebunk Savings operates on the shared belief that Helping One Another Is the Right Thing To Do.
Our Core Values – Trust, Integrity, Proactive and Empathy provide the guide posts for how we support that belief. They guide our day to day actions – from the way we build relationships, to how we make decisions and problem solve, to how we interact with one another. Our Core Values form the foundation of our culture. Embodying by them forms the basis of what makes for a successful employee at Kennebunk Savings.
Scope of Work :
Under the general guidance of the Construction Lending Manager, this position is responsible for managing the construction loan process for new construction or renovations on moderate-to-complex size commercial projects, which may include Loan Committee deals, sub-divisions and housing developments, loan participations with other banks, and tax credits. This individual may also administer escrow fund holdbacks, homeowner's insurance claims and other related tasks while ensuring that all loans meet established Residential and Commercial Construction policies, procedures, and applicable legal and regulatory guidelines. This position is expected to work face-to-face with the commercial lending teams by scheduling construction project site inspections and ensuring availability for meetings involving the lenders and their borrowers.
Essential Functions (3) :
- Responsible for administering pre-closing activities :
Provides timely review and approves applicable construction building plans, specifications, budgets and contracts
Verifies the scope of work, materials to be used, methods of installation, and quality of workmanshipIf required as part of loan approval, engage Third Party Monitor to work with to do a pre-construction reviewAssists other members of the department in completing tasks and answering questions when and where appropriateResponsible for administering post-closing activities :Ensures all required construction documentation, including inspections, title updates, and insurance coverage, is ordered received, reviewed and properly executed
Works closely with third party monitor reporting vendor to ensure project schedule and budget are followed. Also work with the monitor as necessary to help gather any missing documentation that is neededWorks with the title companies to ensure the bank's title policy remains clear from liensFile processing and set-up in construction tracking systemsFinal file review at completion of construction projectAssists other members of the department in reviewing reports to ensure accuracy of data entryHelps troubleshoot problems that arise within active construction projectsManages the distribution of loan fund disbursement activities :Manages loan fund disbursements during each phase of the construction project, ensuring the process follows Bank guidelines
Processes and records loan advances / disbursements, including tracking lien waiversResponsible for maintaining an open dialogue with lenders, borrowers, general contractors, third party monitors, and title companies regarding status of documentation, project progress, and funding of draw requestsReviews draw requests for accuracy and completion prior to releasing construction loan fundsProvide back-up support to the Construction Lending Manager and the department as necessaryOther Duties & Responsibilities :
Promotes the Kennebunk Savings Brand by recommending our products and services, supporting our community focus & commitment to being a premier employerUnderstands, supports and adheres to applicable organizational policies / procedures and state / federal regulationsConsistently emphasizes the importance of teamwork in the department and company at largeResponsible for keeping abreast of company news and informationResponsible for completing required training and policy reviewMay serve on various committeesWillingness to take on additional tasks and dutiesDesired Certifications & Licenses :
N / ADesired Knowledge, Skills & Abilities :
Prior knowledge of construction practices and construction contract law, including State and Federal Banking regulationsDemonstrated ability to review complex transactions / scenariosDisplays high level of regard for trust and confidentialityProficient in Microsoft Office ProductsDisplays strong written and verbal communication skillsDisplays strong organization skills and the ability to multi-task to meet established deadlinesDemonstrates a high level of accuracy and attention to detailEffectively uses analytical skills to solve technical, as well as, non-technical problemsPrior knowledge of regulations within the financial services industry is preferredAbility to adapt to changeDesired Job Experience :
Experience in either residential or commercial construction loan administrationExperience in a professional, service focused and fast-paced environmentDesired Education :
High School or General Education DiplomaAssociate's degree or equivalent combination of education and work experienceWorking Conditions & Minimum Physical Requirements :
Physical surroundings are generally pleasant and comfortable with minimal exposure to injury or other hazardsDexterity of hands and fingers to operate a computer and other office equipmentLifting and moving of moderately heavy objects on occasionNormally seated for extended periods of timeOccasional travel to construction sites within York County Maine and Seacoast New HampshireExternal and internal applicants, as well as position incumbents who become disabled as defined under the Americans with Disabilities Act, or Maine / New Hampshire Human Rights Commissions, must be able to perform the essential job functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on a case-by-case basis.
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