COMPANY DESCRIPTION: Forbright Bank is a full-service bank, commercial lender, and asset manager headquartered in Chevy Chase, Maryland. Forbright is a banking and financing visionary leader in clean energy, healthcare, technology, financial services, real estate, and other industries with extraordinary service.
COMPANY CULTURE: We are a dynamic, high energy, fun, and fast-paced organization that has an exciting growth trajectory, meaningful mission, and embedded responsible environmental, social, and governance (ESG) practices into our daily interactions. We offer our team members a culture of collaboration, inclusion, flexibility, recognition, and giving back. We look to hire individuals that are passionate about our mission, and who are motivated, customer and results-oriented, innovative, adaptable, and thoughtful.
COMPANY MISSION: We are a values-driven institution with an uncommon commitment to decarbonization and sustainability. As the need to build a more sustainable, low-carbon economic system grows increasingly urgent, we are dedicating half of our assets to financing the companies, investors, and innovators driving that change. We are reimagining how a bank should operate in a changing world.
JOB SUMMARY: We are looking to hire a Construction Loan Administrator that will be the primary point of contact for borrowers, internal communications, and third-party vendors, to resolve construction loan related questions and all other issues.
DUTIES AND RESPONSIBILITIES:
- Reviews each draw request relative to the project’s budget, documentary support for the work, and inspections and local records verifying the completeness of work.
- Ensures funds are properly distributed to the borrowers and/or third parties expecting payment.
- Works quickly and accurately to fund draw requests within a reasonable amount of time.
- Communicates with Loan Officers in a timely manner if any issues become evident during the draw fulfillment.
- Supports Loan Administration with select items related to loan closing and servicing.
- Responsible for various administrative duties including, but not limited to, entering construction budgets into spreadsheets, compiling receipts and other documentary support for draws, tracking funded vs. completed construction progress, managing 3rd party inspectors, checking city permitting and approval records, corresponding with clients, and alerting Senior Management to any issues as they may arise.
- Reviews loan approvals and compares to the Note, Loan Agreement, Deed of Trust and any other legal documents that may be applicable to the administration of the loan.
- Engages outside inspectors and collects and reviews all construction due diligence including but not limited to (appraisal, environmental, flood certification, construction contract, specs and plans and all other due diligence required).
- Ensures a final loan budget is in place and is compliant with the loan budget in the approval.
- Maintains the loan budget during construction and makes sure the budget is in balance with the Bank’s core system with each transaction.
- Responsible for owning and participating in a customer relationship while providing a positive customer experience and a high level of service to ensure all construction projects are managed smoothly. Provide timely responses to emails and calls.
For Forbright Bank to remain efficient and nimble as a growing organization, team members are expected to exhibit a high level of flexibility regarding any duties that may be situationally assigned outside of this job description.
- Bachelor’s Degree in a business-related field or equivalent work experience
- Minimum of 4-6 years’ proven experience in construction loan administration
- Strong verbal and written communication skills
- Excellent organizational skills to include time management and follow through
- Strong problem solving and analytical skills
- PC proficient
- Strong customer service skills
- Ability to work effectively as a team or independently
💼 Comprehensive health, dental, and vision plans
🌴 4 weeks PTO
💰 401k + company match
🚉 Metro SmartTrip benefits ($50/mo)
💻 WFH flexibility
🚴 Bonuses for purchasing solar panels, electric vehicles, biking to work, etc.
🍎 Paid subscriptions to Veterans Compost, Imperfect Foods and more!
Forbright Bank is committed to cultivating an environment that promotes diversity as a fundamental value. We welcome employees with a range of experiences, backgrounds, and perspectives. Forbright Bank is an Equal Opportunity Employer