Construction Loan Administration Specialist

Summary: The Construction Loan Administration Specialist administers construction loan draw activity for commercial and consumer projects. This position reviews draw requests and supporting documentation, monitors project budgets and funding requirements, coordinates with internal and external partners, and prepares accurate and timely disbursements in accordance with loan documents, Bank policies, and established controls. The specialist identifies exceptions, maintains complete records, and escalates concerns before funds are released. Essential Job Duties and Responsibilities: Manage construction loan draw activity from receipt of the request through documentation review, approval coordination, and disbursement preparation. Review draw requests, invoices, lien waivers, sworn statements, inspection reports, title updates, date down endorsements, and other supporting documents for completeness and accuracy. Confirm required borrower equity, proper funding order, and current flood, builder's risk, property, and other required insurance coverage before Bank funds are advanced. Track construction budgets, approved changes, project costs, loan balances, retainage, contingency funds, interest reserves, and borrower equity throughout the construction period. Reconcile each draw to prior disbursements and confirm that requested funds are supported, within budget, available under the loan terms, and consistent with project progress. Identify and document budget overruns, insufficient funds, unauthorized changes, incomplete documentation, title concerns, lien issues, inspection discrepancies, and other exceptions, and escalate concerns before disbursement. Coordinate with borrowers, lenders, contractors, inspectors, title companies, Loan Operations, and other internal departments to obtain information, resolve questions, and provide timely status updates. Prepare draw documentation and disbursement instructions for review and approval in accordance with established authority, Bank policies, regulatory requirements, and dual control procedures. Maintain accurate records, reports, and audit ready files in the Bank's loan systems, document imaging platform, spreadsheets, and tracking tools. Monitor construction completion requirements and assist with final draws, lien releases, title updates, loan conversion, project closeout, procedure updates, and other assigned Loan Operations responsibilities. Comply with all applicable federal and state banking laws and regulations. Perform other duties and responsibilities as assigned. Job Qualifications: Associate or bachelor's degree in business, finance, accounting, construction management, real estate, or a related field preferred. Prior experience in banking, construction loan administration, commercial loan servicing, title work, construction administration, or real estate. An equivalent combination of education and relevant experience may be considered. Waterford Bank, N.A. is an Equal Opportunity and Affirmative Action Employer. The Bank provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity, national origin, age, disability, marital status, amnesty, or status as covered veterans in accordance with applicable federal, state, and local laws.