The contributions you will make
This position is responsible for the monitoring and processing of all construction loan/lease draws for the organization from start of construction to completion. Ensures that funds are disbursed accurately and timely to contractors, vendors and clients.
A typical day
Coordinates disbursement of funds and monitors construction funds after closing.
Verifies all documentation is completed correctly and that the forms submitted are applicable.
Examines draw request and all construction-related documentation to ensure that the invoice amounts, prior payments, current payments and balances correspond with documentation.
Determines if a disbursement request payment should be made to the contractor or subcontractors for services based on review of sworn statement and documentation provided.
Utilizes multiple system platforms to disburse funds (ex: ACH, Concur, Wires, etc.).
Monitors, reviews and reconciles progress of construction against sworn statement budget line items to ensure project is on track.
Sets up and activates construction project files.
Schedules inspections with third party vendors or internal team members. Reviews completed inspection to ensure project is progressing or complete.
Conducts Mechanic's Lien search via county website and judgment search on state applicable site. Works directly with Title Underwriter to address and resolve related lien issues.
Actively reaches out to clients regarding projects that are delayed or not finished within timeframe indicated on the construction agreement.
Identifies potential risks during construction, such as cost overruns or project delays and takes appropriate action. Mitigates risk for clients and lender by following the appropriate guidelines established by the Title Underwriter and organization.
Reviews construction loan documentation to ensure all requirements and conditions for each project are met. Follows up with clients and contractors to resolve any document discrepancies.
Verifies disbursement documentation to ensure project is within budget.
Uploads all documentation for each draw to the appropriate systems and client files.
The skills and experience we prefer you have
Knowledge of federal and state (Illinois, Minnesota, and Wisconsin) laws, regulations and compliance requirements specific to the financial industry and Farm Credit.
Must have a complete understanding of construction loan requirements for residential and commercial development projects.
Basic knowledge of lending disbursement processes, procedures and documentation.
Strong computer skills, including Microsoft Office applications and customer relationship management (CRM) programs
Basic knowledge of standard construction budget practices and techniques.
Real estate knowledge, preferred.
How we will take care of you
Our job titles may span more than one career level (associate, senior, principal, etc.). The actual title and base pay offered is dependent upon many factors, such as: training, transferable skills, work experience, business needs and market demands. The base pay range is subject to change and may be modified in the future. This role is eligible for variable compensation and other benefits.
Base Pay
$47,100—$66,600 USD
Compeer Financial is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
Must be authorized to work for any employer in the United States. Compeer is unable to sponsor or take over sponsorship of an employment visa at this time.
Click here to view federal employment laws applicable for applicants.
