Construction Loan Manager

at Live Oak Bank • Wilmington, NC

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POSITION SUMMARY:

Leader of the Construction Loan Risk Management Department. In charge of overseeing the  Construction Loan operations department, from pre-contractor/project review, including appraisals and environmental reports, through final disbursement. Directly interacts with customer and PODS to insure construction loan is closed, documented, and disbursed in a safe manner for both the bank and customer.  If a construction management firm is required for a project, the incumbent is responsible for selecting and determining the scope of the firm’s involvement.   Reviews budgets and works with third-party construction management firms to insure adequate funds have been budgeted.  Reviews draw requests and handles disputes between the borrower and general contractor.  Works closely with the Business Advisory Group through the post-closing transition to help facilitate a lasting relationship.  Maintains the bank’s construction related policies for Credit Administration.

 

ESSENTIAL FUNCTIONS:

  • Assists in the development of and provides leadership to the Construction team.
  • Works closely with Credit Administration to develop construction management oversight policies and procedures.
  • Responsible for insuring the bank maintains a robust training program for all department employees to insure appropriate competencies are maintained.
  • Reviews loan packages, budgets and project specific information for the construction of veterinary and dental faculties including but not limited to hospitals, clinics and centers.
  • Evaluates contractor qualifications for approved use.
  • Coordinates loan closings with Closers and attorneys
  • Reviews loan documentation prior to funding for completeness, accuracy and compliance with authorization and credit approval. Has the final say before closing concerning the equity documentation.
  • Coordinates projects with third party monitoring firms to mitigate risk.
  • Ensures that proper documentation has been provided for all draws and assists with disbursement of funds for payment
  • Is available to assist lenders at front-end of construction deals to help sell LOB as construction loan expert.
  • Compares the final construction contract and bids to the approved detailed budget. Responsible for resolving any discrepancies with the underwriter of the file.
  • Provides oversight for appraisals and environmental reports.
  • Works with appropriate parties through any dispute mediation.
  •  Has a thorough understanding of liens – both the legal ramifications and the inherent risks involved in related decisions.

 

ADDITIONAL RESPONSIBILITIES:

  • Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.
  • Functions as a team and realizes all members of the team are vital to its success.
  • Performs other duties as required.

SKILL:

  • Comprehensive understanding of the SBA SOP requirements for construction lending.
  • Experienced at reviewing and evaluating commercial construction budgets.
  • Understand completion of contract documentation and related construction terminology.
  • Strong organizational skills.
  • Must have the ability to travel extensively.
  • Must have a valid driver’s license.
  • Sales and marketing skills, excellent communication skills.

EDUCATION:

  • College degree preferred or comparable work experience

EXPERIENCE:

  • A minimum of ten years experience in commercial construction management
  • Bank experience preferred

PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:

  • Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers
  • Able to sit, stand, stoop and bend
  • The ability to work the days and hours required to fulfill the essential functions of the position
  • The ability to work long hours and to multitask

MENTAL DEMANDS:

  • Learning, thinking, concentration
  • The ability to interact with others and exercise self-control
  • The ability to work under stressful conditions, particularly in customer and employee relations situations
  • The ability to make decisions and exercise discretion, when necessary