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Construction Disbursement Associate II

Company: East West Bank
Location: El Monte
Posted on: January 15, 2023

Job Description:

Since 1973, East West Bank has served as a pathway to success. With over 120 locations across the U.S. and Greater China, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates potential for career advancement. Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.The Construction Disbursement Specialist II is responsible for the servicing of the Construction Loan including but not limited to; set up of the construction loans and budget into CLCS, the disbursement of construction loan draws within established budget and the 2nd review of all data entered in CLCS.

  • Enter new construction loans in the CLCS system and set up appropriate budget.
  • Ensure the new loan set up line item budgets are in accordance with the credit approval and Construction Loan Agreement.
  • Review the disbursement draw request to the specific line item in the budget ensuring funding within the budget.
  • Obtain approval for budget change request line item
  • Reconcile borrowers construction loan budget to the banks records
  • Process construction loan disbursements
  • Prepare cashiers check or wire transaction and enter in CLCS.
  • Obtain title insurance date down/change orders for draw request.
  • Order third party inspection reports
  • Track and follow up on receipt and approval of inspection and title date down reports.
  • Monitor use of borrowers soft cost funds and disbursing funds on borrowers behalf.
  • Ensure that all disbursement documentation is scanned and saved in the imaging system.
  • Maintain and monitor current property and general liability insurance for all files
  • Interface with relationship managers, title companies, appraisal department, construction services, accounting and etc.
  • Respond to internal inquiries on the above processes
  • Perform End of Day Balancing
  • Provide training to Junior Disbursement Specialist
  • Process all other miscellaneous activities as requested
  • Bachelor Degree preferred, or equivalent work related experience
  • Minimum 3 year of work experience in commercial real estate construction loan Administration
  • Experience with complex loan structured including Syndication
  • Experience in collateral perfection
  • Knowledgeable in Loan Documentation including Construction Loan Agreement
  • Loan system experience with CLCS knowledge preferred
  • Proficient in Microsoft Office with advance excel preferred
  • Excellent written and verbal communication skills required
  • Good organizational, analytical and problem solving skills
  • Ability to handle multiple tasks with excellent attention to detail
  • Ability to organize and maintain a high volume work environment
  • Ability to adapt quickly to changes and perform in a fast paced environment
  • Ability to build effective relationships as needed to effectively address issues and obstaclesLI-VD1The base pay range for this position is USD $25.00/Hr. - USD $32.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.Requisition ID: 2022-10045 Street: 9300 Flair Drive

Keywords: East West Bank, El Monte , Construction Disbursement Associate II, Professions , El Monte, California

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