Sr Construction Loan Administrator

Overview

The Construction Loan Administrator is responsible for the end-to-end servicing and administration of complex Commercial Construction loans and projects, including the monitoring of syndicated deals (agent or participant). This role requires strong technical knowledge of construction lending, loan documentation, title review, and budget management. The administrator ensures all construction loans are accurately set up, properly monitored, and serviced in accordance with the loan agreement, bank policy, and established timelines.

Construction loans include activities such as monitoring the construction lifecycle, setting up construction loans and budgets, disbursing construction loan draws within the established budget, and reviewing the Construction Loan Agreement and its Budget.

• Review the credit memo and loan agreement to ensure proper terms and budget within the approved credit.
• Enter new construction loans in the system and set up appropriate budgets for complex projects.
• Ensure the new loan setup line-item budgets are in accordance with the credit approval and Construction Loan Agreement.
• Review disbursement draw requests to the specific line items in the budget, ensuring funding is within the budget.
• Review and approve draws for disbursement.
• Obtain approval for budget change request line items.
• Reconcile borrower’s construction loan budget to the bank’s records.
• Obtain title insurance date, down payment, and change orders for draw requests.
• Order third-party inspection reports, process invoicing, and reconciliation.
• Track and follow up on receipt and approval of inspection and title date-related reports.
• Monitor the use of borrower funds and disburse funds accordingly on the borrower’s behalf.
• Monitor interest reserve adequacy on all accounts.
• Monitor and reconcile Construction Loan Disbursement Reports.
• Maintain and monitor current property and general liability insurance for all files.
• Interface with relationship managers, title companies, legal counsel, appraisal department, construction services, accounting, and others.

• Bachelor’s Degree or equivalent
• Minimum 8 years of experience in Construction Loan Administration/Commercial Real Estate

• Previous experience in large financial institutions is preferred
• Prior closing experience, paralegal background, credit experience, or understanding of relevant documentation
• Client-facing presence
• Project management skills with ability to prioritize tasks and adapt to changing priorities
• Organizational and time-management skills
• Understanding of bank policies and procedures relating to loan closing conditions, documents, and services

Compensation
Starting base salary: $34.55 - $55.19 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

Since day one we’ve always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.

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