TD Bank SBA Construction Loan Expert, Assistant Vice President in Cherry Hill, New Jersey
SBA Construction Loan Expert, Assistant Vice President
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TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US .
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com .
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Manages Customer expectations regarding the construction requirements from the sales point of prospecting through loan origination and project completion for all SBA construction loans in process
Maintains as point-of-contact for Customer throughout the Sales, Credit and Closing processes
Collects, reviews, approves and maintains all required construction documentation necessary in order to comply with the requirements of the US Small Business Administration, such to ensure the 75% principal guaranty is not impaired by lack of adherence. Submits all approved documentation to supporting departments (RIMS, engineering, CREA, etc) for approval to proceed.
Provides approval to CREA for funding of draw requests after file review, to ensure loan is in balance, as required by the US Small Business Administration, and that draw is appropriate for percentage of project completion
Instructs Contractor and Borrower on submission of required documentation, maintains schedule of construction disbursements, reviews and approves all submissions for adherence to SBA standards
Ensures project remains in balance and advises customer when additional injection funding is necessary
Ensures draw requests are received regularly and appropriately
Manages construction completion dates in accordance with dates identified in documentation
Creates Post-Approval Modification documents for circulation amongst Credit Management and Credit Risk when projects need increase or are out of balance
Acts as the liaison with the CREA Department Specialist, to ensure that the project progress, funding, balances, etc. are in compliance with the standards set forth by the US Small Business Administration
Acts as oversight for CREA Commercial Portfolio Loan Specialist
Responsible for the management and overall administration of a portfolio of commercial construction loans beginning at the pre-closing phase thru project completion
Serves as a resource to the Line of Business and Credit Risk Officers in regards to TD Construction Loan Credit Standards, policies and procedures
Provides high-quality internal and external customer service and support with the ability to handle large complex and high profile projects
Assists with inquiries, research and problem resolution for the Line of Business and the customer
Works closely with the Line of Business, Borrower and CLS team during the pre-closing process
Reviews all construction documentation for conformity to the TD Credit standards for construction loans
Contributes to establishing a detailed project budget and balanced sources and uses
Interprets complex credit policies, legal and title requirements and regulatory guidelines to ensure loan documents meet applicable standards from preparation through execution
Reviews and approves all closing disbursements
Analyzes requests for funding against established budgets, sources and uses, and identifies any exceptions
Reviews all advance request documentation in detail against approved controls, including AIA's, inspection reports, lien waivers and soft cost invoices
Is relied on to make recommendations for funding as well as hold backs, based on knowledge of the project and TD Bank construction policies
Maintains a balance between project costs and funding sources, ensuring the Bank's risk is mitigated
Reviews Inspection reports for accuracy and completeness of information provided
Follows up with external engineer and TD Bank Engineering Department to make recommendations and resolve any issues or exceptions noted
Keeps Line of Business abreast of status of the project and any issues.
Maintains internal record keeping of loan disbursements and project progress
Must be eligible for employment under regulatory standards applicable to the position.
M - F
The SBA Construction Loan Specialist administers and monitors a loan portfolio of SBA loans in process. The job assesses and maintains compliance with loan documentation and Commercial Construction loan Credit Standards, as well as SBA Standard Operating Procedures in order to effectively maintain the 75% principal guaranty provided by the federal government, by managing the Bank's construction risk during all phases of the construction loan process.
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live in and serve, and creating an environment where every employee has the opportunity to reach their potential.
If you are a candidate with a disability and need an accommodation to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.
EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.
Bachelor's degree (accounting/finance preferred) or work experience equivalent to a Bachelor's degree required
3+ years related experience required, preferably in Construction Administration or Commercial /Real Estate Lending or Credit Management
Excellent written and verbal communication skills
Excellent customer services skills for both internal and external customers
Ability to review and identify issues as well as make educated recommendations for resolution within scope of their authority
Aptitude for analysis, systems and mathematics
Attention to detail with the ability to prioritize in a high volume environment
PC proficient with strong Excel skills Work Location: 2059 Springdale Road Business Line: TD Bank AMCB Job Category - Primary: Operations & Underwriting Job Category(s): Operations & Underwriting **Province/State (Primary): New Jersey City (Primary): Cherry Hill Job Family: Retail / Commercial Operations Time Type: Full Time Employment Type: Regular Hours/Availability Detail: 40 Work Remotely: Nationwide
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