Fifth Third Bank, N.A. Construction Loan Administrator II in Rosemont, Illinois
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GENERAL FUNCTION: Primary responsibilities include helping to manage the risks of construction loans by providing detailed analysis of project budgets, documentation review, and verification of funds for disbursement. Insure compliance with Bancorp policies and procedures. Assume lead role in the review and funding of complex commercial construction loans. Assist other commercial loan administrators with questions and review. The focus of the construction administration process is to assess compliance with loan documentation and to insure loans are within budget to complete the project.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
DUTIES & RESPONSIBILITIES:
Help manage commercial construction loan disbursements for both homebuilders and commercial construction.
Organize the construction process of the bond issues with Public Funds and Corporate Trust to insure all risks are mitigated.
Assist in the maintenance of commercial construction loan draw procedures that can be provided to any internal staff for informational purposes.
Manage multiple activities related to the review and approval of complex commercial real estate construction loans.
Assist with the training of Construction Loan Administrators, new portfolio managers, relationship managers and other areas of commercial lending that may have construction loans such as Middle Market, Public Funds, Private Banking and Business Banking.
Monitor each line item in the project budget utilizing spreadsheets by verifying contract amount, change orders, equity, stored materials, authorized signatures, retain age, contingency and site work.
Coordinate project inspections with internal and external inspectors.
Analyze hard costs with the application of payment from contractor AIA (G702/703).
Communicate with management and relationship manager the progress of construction project and issues that may need to be addressed, such as budget shortfalls, mechanic's liens, and equity issues.
Order title exams, verify lien position, verify soft cost invoices.
Complete all internal forms needed for disbursements.
Communicate with borrower and relationship manager the results of construction draws.
Possess a working knowledge of the Commercial Real Estate policies of Fifth Third Bancorp.
SUPERVISORY RESPONSIBILITIES: None
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
Undergraduate degree in Business or Accounting or equivalent related work experience.
5 + years administering commercial construction loan disbursements.
Must demonstrate excellent oral and written communication skills.
Requires a basic understanding of internal operation functions and commercial real estate lending.
Skilled in problem solving and customer service.
Ability to handle and prioritize multiple tasks.
Minimal to no supervision required.
Proficient with MS-Windows and other related PC applications.
Possess the desire and ability to learn automated data analysis tools and techniques.
Construction Loan Administrator II
LOCATION -- Chicago, Illinois 60606
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
Fifth Third Bank, National Association is one of the top-performing banks in the country, with a history that spans more than 150 years. We’ve staked our claim on looking at things differently to make banking a Fifth Third better. This applies to our relationships with customers and employees alike.We employ about 18,000 people while offering:• A chance for employees to build their future, with supportive career development and comprehensive health and financial wellness programs.• An environment where we win together by celebrating achievements and working collaboratively.• An opportunity to make a difference in a positive and lasting way. Everything we do is geared toward improving lives.We’re proud that Fifth Third is a warm and caring place to grow – as a customer and as a team member.