Contracts Administrator - Construction jobs in New Brunswick, NJ

How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community? Provident is a successful and highly regarded multi-billion dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. At Provident Bank, we are committed to enhancing our customer and employees’ experience.

POSITION SUMMARY

The position’s role is responsible for accurately administering a portfolio of construction loans and maintaining a courteous and beneficial liaison between customers, Relationship Managers, and other outside professionals. Job performance is evaluated on accuracy, timeliness, productivity, and customer satisfaction. The role is considered the more experienced in the job family and responsible for mentoring of less experienced CLA’s. The candidate selected will be expected to be work independently and will escalate situations as appropriate to Management.

MAJOR JOB RESPONSIBILITIES

• Prepares and reviews pre-closing documentation for commercial lending and/or commercial real estate construction loans including completion of the detailed budget template prior to closing. Reviews loan approval documents, construction loan agreements and engineer’s plan & cost report to ensure proper loan administration
• Prepare detailed project budget template for all loans with approved budgets, funding criteria, loan allocations and re-allocations; review permitted release provisions within the loan documents. Maintains loan budget template on a regular basis reflecting each funding, principal pay down and release consideration payment.
• Oversee project budgets for accuracy, including advances and pay downs that are in accordance with legal documentation to ensure compliance of all construction loan covenants. . Reviews inspection reports, borrower’s monthly requisition for accuracy, maintain and monitor the updated status of the loan as to accuracy to assure there is no over funding, with all line items being in balance and compliance with approved loan and funding budgets with the Relationship Manager to coordinate monthly advances with borrower, inspecting engineer and title company

• Is responsible for confirming loan was properly established on the Bank’s system by Loan Operations, creates disbursement files and follows up for any post closing construction related documents.
• Coordinates, creates, submits, or receives lender notices to fund construction loan advances including participated and syndicated loans. Confirms monthly interest payments, insurance and tax payments are all current and in good standing. Responsible for saving all inspection reports, budgets, title, borrower submissions and all other documents associated with an advance to the Bank’s Loan System for each funding provided.
• Analyzes and Reconciles Construction Loan Report monthly. Works with loan officers to obtain and keep track of any updates pertaining to each construction loan. Responsible for setting up monthly interest trailers on loan system. Assist and mentors less experienced CLA Construction employees when needed.
• Responds to customer inquiries timely, resolves issues and uses judgment to involve managment. Updates department reports, including pipeline reports, monthly construction reports, monthly advances, and interest reserve reports. Submits to manager and Relationship Managers and Portfolio Managers.

SUPERVISORY RESPONSIBILITIES

None.

SKILLS AND TRAINING

• Extensive knowledge of Construction Mortgage Loan Administration requirements and ability to apply such knowledge.
• Experience with complex construction loans and ability to monitor them.
• Strong verbal, communicative and written skills.
• Ability to manage heavy workflow, resolve problems with modest supervision, attention to detail and perform arithmetic calculations.
• Proficient with Excel and Word.

EDUCATION

Bachelor’s degree preferred.

WORK EXPERIENCE

Minimum 5 to 7 years’ experience commensurate with job function

LICENSES AND/OR CERTIFICATES

Licenses and Certifications Expiration Date

None

WORKING CONDITIONS

Work is performed in a normal office environment. Noise levels are usually moderate.

HAZARDS

The hazards are those present in a normal office setting.

This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.