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Job Description
Essential Functions/Responsibilities
This role will be performing, however, not limited to, Residential Mortgage construction loan funding analysis to ensure funds are disbursed in an appropriate manner. Analysts will first review project prior to final loan approval to ensure appropriate documents and fees (construction contract, insurance certificates, etc.) required for funding are satisfied. Once project commences, Analyst will be responsible for monitoring project, approving, and requesting Approve funding on Residential Mortgage construction draws from loans or escrowed funds, based on independent analysis without supervisor approval. 67.0% of time
Specific activities include:
Analysis & balancing Residential Mortgage construction loan project budgets.
Analysis of supporting loan documents to ensure compliance for Residential Mortgage construction loans required by various bank policies, including Credit & Residential Mortgage Policy (flood verification, credit approvals, hazard insurance certificate, construction loan agreement, evidence of equity injection, builder contracts, loan settlement statement, and title commitment/policy).
Create budget analyses specific to each project, verifying within funds to complete and auditing against duplicate pay-outs, cost line overages, early retainage, etc.
Has authority and sole discretion to approve or deny funding as a result of his or her analysis.
Utilize internal systems to direct others to disburse on Residential Mortgage construction loans or escrowed funds based on his or her judgment through independent analysis.
This position will work directly with borrowers, Mortgage Loan Originators and builders to obtain appropriate documentation in order to maintain defined standards and make sound analysis decisions.325% of time
Specific activities include:
Independently order and engage 3rd party vendors for inspections and title related needs.
Provide independent analysis of aforementioned vendor reports, followed by direction to others on how to resolve any of his/her concerns.
Order Title Updates. Review for mechanic's liens, tax liens, judgments, or any other exception to clear title.
Review Lien Waivers and paid invoices. Review builder's percent to complete, assuring in balance and sufficient loan or escrowed funds to pay complete.
Order, review & balance Inspections to builder's budget.
Review Change Orders and provide analysis of same within total project budget.
Miscellaneous Internet Research around, project status, inspector venders, etc...
Initiate conference calls and e-mails with builders, borrowers and Mortgage Loan Originators.
Other Support Tasks 5% of the time & Review and provide updates on various reports for internal line of business analysis and senior lending authority decision making & Provide training to fellow associates on input to construction funding systems & monthly reporting.
Other duties as may be assigned.
Minimum Knowledge, Skills, and Abilities Needed to Perform Essential Functions of the Job
3-5 years of Residential Mortgage loan Industry, Project Analysis & Loan experience, or equivalent.
5 years Residential Mortgage construction experience, or equivalent.
Bachelor's degree required, preferably in business construction, finance or accounting, or 5 years equivalent work experience
Additional Training as deemed necessary for job
Demonstrated past dedication to customer service and overall customer experience
Strong understanding of working in Excel with knowledge of formulas.
Preferred Knowledge and Skills
Level of Complexity and Scope
Mostly intermediate and advanced work
Degree of Independence and Decision-Making
Must be able to independently review fund analysis and other duties assigned with limited oversight.
Must be able to research issues and problem-solve independently
Must possess a strong capacity for critical thinking
Must be comfortable learning new systems and be an independent learner of technological infrastructure.
Required Supervisory Responsibilities
Ability and willingness to provide oversight and assistance to Residential Construction Funding Analyst I as needed
Ability and willingness to assist with and explain to other banking partners the construction funding process.
Physical Requirements
Occasionally lifts and carries up to 10 lbs.
Occasionally drives.
Frequently sits, stands and walks.
Compliance Statement
The associate is responsible for meeting all compliance requirements imposed on First Financial Bank by State and Federal law and regulation, as well as all related First Financial Bank policies and procedures. This includes all Bank Secrecy Act, Anti-Money Laundering, OFAC and Suspicious Activity reporting requirements, as well as all other lending and deposit compliance requirements.
Development and Training
It is our policy to not discriminate against any individual in violation of federal, state, and local laws as it relates to age, race, color, religion, national origin, sex, marital status, pregnancy, gender identity, disability, sexual orientation, genetic information, veteran/military service, or any other characteristic protected by law.
