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Construction Loan Specialist in Raleigh, NC at First Tennessee Bank

Date Posted: 5/16/2019

Job Snapshot

Job Description

Position Overview
The CRE Construction Loan Specialist position is a highly specialized position requiring a broad and diverse level of construction knowledge. This position is primarily responsible for comprehensive credit risk management, associated with site conditions, environmental assessments, construction processes, management of project schedule and approval for disbursement of loan funds for draw requests. This position is expected to own and independently lead in the administration of construction projects, including the oversight of loan funds for payment of regular draw requests. This position ensures all construction projects adhere to all Federal and State regulatory requirements and that Loan Policy guidelines are properly administered during the construction phase of a project to ensure all projects are finalized with proper documentation and to ensure collateral is perfected and any associated risks to the Bank are eliminated.

Duties and Responsibilities
• Works closely with Relationship Managers, Construction Loan Closing Officers, Borrowers and/or Participants Banks to ensure all required construction documentation is received, reviewed and approved prior to closing.
• Reviews and opines to sufficiency of loan documents to ensure consistency with the Loan Approval and Bank construction requirements.
• Reviews and confirms Borrower’s equity requirements have been met prior to loan funding or as agreed to in the Credit Approval and Construction Loan Agreement.
• Monitors and maintains project Budget and performance on Bank’s tracking system.
• Obtains appropriate approvals and documentation of any exceptions to Bank Policy related to the construction loan.
• Reviews and approve draw requests through third party inspection assessments and confirmation of accurate work completion to ensure advancement of loan funds are appropriate and the project is on schedule for completion.
• Maintains current and accurate files, updates departmental and construction-related pipeline reports, and maintains regular communication with the Relationship Manager and Construction Loan Closing Officer.
• Understands and complies with state specific title requirements to maintain Bank’s lien priority. Works with Title Company, Relationship Manager, and appropriate approving Bank Authority to address intervening liens and other matters of title that may develop during the funding process.
• Confirms that all projects are completed with all required closeout documents to ensure Bank is protected against mechanic liens or other legal filings.
• Participates in special projects and assignments and performs other duties as assigned by Manager.
Requirements Education and/or Work Experience Requirements
• Bachelor’s degree (B. A.) from a four-year college or university preferred with a minimum of five (5) related financial institution/commercial construction/real estate experience.
• Proficient knowledge of Microsoft Word, Power Point, Excel and Outlook.
• Ability to gather, validate, analyze and maintain a variety of data from internal and external sources used to provide recommendations.
• Knowledge of commercial real estate construction techniques and procedures.
• Able to work independent of close supervision and able to make critical decisions related to construction administration and loan policy.
• Ability to read and listen, understand and communicate information and ideas in a clear and understandable manner, both orally and in writing with senior executives, business unit management and staff, third party vendors, state and federal regulators and officials and significant business partners.
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists; ability to interpret a variety of data furnished in written, oral, diagram, or schedule form.
• Strong ability to read, analyze and interpret financial reports and legal documents; performs complex calculations; effectively researches, analyzes and evaluates information to make decisions, solve problems and achieve goals; strong project management skills desired.

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  • All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, gender stereo typing, and age. First Tennessee is an EO employer – M/F/Vets/Disabled.
  • Please view Equal Employment Opportunity Posters provided by OFCCP