Construction Draw Specialist

Job Description

Job Description

CRE Construction Draw Specialist

Job Description

Commercial Property Assessed Clean Energy (C-PACE) is a tool used by property owners and developers to finance energy efficiency, renewable energy, and resiliency measures that improve commercial property.

Founded in 2017, PLG is a leading national direct C-PACE lender. With an industry-leading balance sheet, PLG is focused on originating / servicing C-PACE loans nationwide. We are on the ground floor of something big - and we want you to be a part of it.

We are adding a CRE Construction Draw Specialist to our team. There is a preference for this position to office out of our Minneapolis office. We are a small company, so you will immediately have an impact on the efficiency of our team.

Your day-to-day will primarily focus on the construction process from start to finish : customer contact, draw requests, third party management, insurance tracking, and other C-PACE loan / asset management tasks.

If you enjoy a growing company, a customer-focused environment, and are self-driven to excel, this is the role for you!

Primary Responsibilities

Stakeholder Interaction (Mortgage lender / Borrower / PLG / Title Co. / etc.)

Serves as the primary point of contact for borrowers, contractors and vendors regarding the draw process

Collaborates with underwriting, servicing and closing teams to ensure smooth loan administration

Creates and sends a Welcome Package to clients upon commencement of construction and the draw process

Provides status updates and guidance to clients on draw timelines and requirements

Draw Management

Using base templates to create and maintain deal specific draw trackers for each new project

Meeting servicing standards on multiple, ongoing draws by critically reviewing construction draw requests for accuracy and compliance with loan agreements and C-PACE Programs

Reviewing required documentation and lien waivers quickly for appropriateness and accuracy and requesting further information within 24 hours or initial request, when needed

Coordinating with third party vendors to confirm work progress and project completion stages

Identifying and resolving discrepancies between draw requests, site inspection information and the construction budget, should they arise

Maintaining and balancing each individual draw tracker to ensure construction escrow accounts stay in balance, internally

Tracking and verifying the overall project budget stays in balance (i.e. there are enough funds from all sources to complete the build)

When all documentation is complete and / or received, verifying wiring instructions and processing the construction loan draw, ensuring funds are sent out

Compliance and Documentation

Using the Master Tracking Document as a pipeline management tool, tracking and updating each individual draw, on a daily basis, as it moves through the process

Following up on trailing documents from loan closings (i.e. construction permits / builders risk insurance / surveys, etc.)

Reviewing for construction insurance maturities / cancellations and following up with clients to ensure proper insurance is maintained

At construction completion, ensuring full documentation for the file in relation to any final, C-PACE required documentation (i.e. Certificate of Occupancy / Completion Certificates / etc.)

Other tasks as needed

Skill set must include the following :

2-4 years of experience with commercial construction draws / loan administration preferred

Extremely detail-oriented with demonstrated ability to follow through on tasks

Familiarity with construction budgets, schedules, reports, lien waivers, and compliance documentation

Curious, with a problem-solving attitude (identify issues, but also suggest solutions), particularly, with the ability to think through nuances of each construction draw

Ability to manage several projects with different parameters using checklists and timelines

Proactive communication and follow through

Analytical thinking and problem-solving abilities

Experience in Microsoft Office Suite, including moderate (or better) Excel skills

Ability to work in a fast-paced environment while delivering accurate and quality work-product while maintaining multiple, simultaneous draw requests and meeting established service parameters (i.e. “Think on Your Feet”)