1+ months

Construction Draw Specialist

Chandler, AZ 85286
Construction Draw Specialist



Houston, Texas;Charlotte, North Carolina; Chandler, Arizona; New York, New York



**Job Description:**



The role of the Draw Administrator is to service a portfolio of construction loans during the construction phase, by effectively identifying/managing potential credit risks and delivering excellent customer service to both the client and Relationship Manager. Handles construction (more complex based on experience) projects as assigned by manager; responsible for understanding the teams goals and striving to attain them.



Primary Responsibilities:



* Monitor construction projects by identifying any potential credit risks and managing the process to mitigate those risks



* Order and review inspections, title updates, subsequent surveys and appraisals as needed



* Analyze draw requests ensure disbursements are in conformance with terms and conditions of approval and recommendations of inspectors report.



* Process payment of advances/Execute wire transfers/Review invoices for payment to vendors



* Set-up project workbook including budget spreadsheet, disbursement guidelines, draw request review and equity letter



* Ensure all loan disbursements are in accordance with the original credit approval and any subsequent deviations are approved by CMU.



* Clear collateral documents exceptions and deliver documentation to the various GWIM Credit Services sites for system updates



* Ensure accuracy of work and the timeliness of all communications



* Actively participate /lead projects as needed.



* Maintain the Custom Mortgage Fulfillment sense of urgency and white glove service to our clients and sales partners



Required Skills:



* Demonstrates composure and sound thinking in a high volume, high pressure, quick turnaround environment supporting high net worth Private Bank clients



* Good time management skills, ability to multi-task, well organized, self-motivated



* Exhibits ability to build relationships both internally and externally



* Proficient knowledge of the following systems: Microsoft Word, Excel and Access



* Familiarity with residential real estate loan documentation, appraisals and inspections



* Requires minimal supervision while maintaining high productivity



* Excellent written and verbal communication (frequently required to attend conference calls with client/sales partners/underwriters/external vendors to resolve issues and prepare builder letters outlining draw process)



* Proficiency in preparing and/or reviewing residential real estate documents for highly complex loan types, including manual preparation of all required compliance documents



* Innovative problem solver



* Good understanding of construction contracts, budgets and draw monitoring process



Preferred Skills:



* Proficient knowledge of the following systems: AFS Commercial Loan, Lotus Notes, BFT Wire, E-Request (vendor payments).delete



* Understanding of collateral perfection requirements, consumer compliance regulations, credit risk assessments, and state law requirements to support a manual end to end process



* Good understanding of all Custom Mortgage Products



**Job Band:**



H5



**Shift:**



1st shift (United States of America)



**Hours Per Week:**



40



**Weekly Schedule:**



**Referral Bonus Amount:**



0



**Job Description:**



The role of the Draw Administrator is to service a portfolio of construction loans during the construction phase, by effectively identifying/managing potential credit risks and delivering excellent customer service to both the client and Relationship Manager. Handles construction (more complex based on experience) projects as assigned by manager; responsible for understanding the teams goals and striving to attain them.



Primary Responsibilities:



* Monitor construction projects by identifying any potential credit risks and managing the process to mitigate those risks



* Order and review inspections, title updates, subsequent surveys and appraisals as needed



* Analyze draw requests ensure disbursements are in conformance with terms and conditions of approval and recommendations of inspectors report.



* Process payment of advances/Execute wire transfers/Review invoices for payment to vendors



* Set-up project workbook including budget spreadsheet, disbursement guidelines, draw request review and equity letter



* Ensure all loan disbursements are in accordance with the original credit approval and any subsequent deviations are approved by CMU.



* Clear collateral documents exceptions and deliver documentation to the various GWIM Credit Services sites for system updates



* Ensure accuracy of work and the timeliness of all communications



* Actively participate /lead projects as needed.



* Maintain the Custom Mortgage Fulfillment sense of urgency and white glove service to our clients and sales partners



Required Skills:



* Demonstrates composure and sound thinking in a high volume, high pressure, quick turnaround environment supporting high net worth Private Bank clients



* Good time management skills, ability to multi-task, well organized, self-motivated



* Exhibits ability to build relationships both internally and externally



* Proficient knowledge of the following systems: Microsoft Word, Excel and Access



* Familiarity with residential real estate loan documentation, appraisals and inspections



* Requires minimal supervision while maintaining high productivity



* Excellent written and verbal communication (frequently required to attend conference calls with client/sales partners/underwriters/external vendors to resolve issues and prepare builder letters outlining draw process)



* Proficiency in preparing and/or reviewing residential real estate documents for highly complex loan types, including manual preparation of all required compliance documents



* Innovative problem solver



* Good understanding of construction contracts, budgets and draw monitoring process



Preferred Skills:



* Proficient knowledge of the following systems: AFS Commercial Loan, Lotus Notes, BFT Wire, E-Request (vendor payments).delete



* Understanding of collateral perfection requirements, consumer compliance regulations, credit risk assessments, and state law requirements to support a manual end to end process



* Good understanding of all Custom Mortgage Products



**Shift:**



1st shift (United States of America)



**Hours Per Week:**



40



Learn more about this role



Full time



JR-22035863



Band: H5



Manages People: No



Travel: No



Manager:



Talent Acquisition Contact:



Robert Foster



Referral Bonus:



0



Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.




To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .


To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .



Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.




To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .

Industry

  • Banking / Finance
Posted: 2022-04-22 Expires: 2022-06-04

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At Bank of America, our customers are at the center of everything we do. Our focus is on helping each one find the right financial solutions. With a wide range of career opportunities available, we invite you to realize your career goals with us while assisting customers with what matters most to them.

Welcome to Careers at Bank of America.


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Construction Draw Specialist

Bank of America
Chandler, AZ 85286

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