AVP, Construction Disbursement Administrator

BANC OF CALIFORNIA AND YOUR CAREER

Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $34 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small, middle market, and venture backed businesses. As the largest independent bank headquartered in California, the bank offers a broad range of loan and deposit products and services through a network of full-service branches and regional offices, as well as through digital and nationwide capabilities.

The bank also provides full-service payment processing solutions to its clients and serves the Community Association Management industry nationwide through its technology forward platform, Smart Street™. Banc of California is committed to supporting its local communities through the Banc of California Charitable Foundation and by partnering with organizations that promote financial literacy, job training, small business support, affordable housing, and more.

At Banc of California, our success is powered by our people and a shared commitment to delivering meaningful results. We foster an environment where entrepreneurial thinking is encouraged, and accountability and operational excellence are expected. Our team members are empowered to take ownership, make informed decisions, and make a meaningful impact as the bank continues to grow and evolve. We are dedicated to supporting your growth and wellbeing through comprehensive benefits, robust development opportunities, and inclusive programs that enable you to perform at your best.

Together we win!

Work directly and independently with construction contractors /project managers, third party inspection firms, fund control companies, title insurers, borrowers, accountants, lenders and clients from loan approval through final funding to manage the processing of lender approved commercial real estate construction draws and documentation thereof in accordance with internal and regulatory requirements. Provide accurate and responsive funding on highly complex construction loans through all stages.

Relied on as a resource for construction industry related practices and legal requirements. Able to thoroughly understand construction related contracts and budgets. Performs all duties in accordance with the Company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates.

• At loan closing and in conjunction with the REIG lender, establish the final Master Funding Ledger for assigned loans to include all funding sources and uses utilizing construction budget (s) and loan closing statements. Verify and allocate project equity, for hard and soft costs. Audit the Loan Disbursement File and Master Disbursement Funding Ledger at loan closing for assigned loans, to assure a proper start to the transaction on assigned loans.
• Confirm all equity payment and verification thereof on assigned loans.
• Ensure project budgets are accurately set up through approved fund control companies.
• Proactively participate in initial post-closing meeting with REIG lending/disbursement team, and Borrowers project team. Conduct follow up meetings as necessary.
• Verify and balance all budget categories and all funding sources, both initially and with each funding request.
• Coordinate fund control requests and project inspections.
• Prepare and monitor funding reports for management.
• Accurately complete funding package, submit for approval, disburse draws using the appropriate funding source and notify recipient of funds.
• Ensure line item transfers and increase transfers are adequately documented, the cost breakdown continues to balance and all changes are submitted to the Loan Officer for approval.
• Ensure the Master Funding Ledger is updated regularly to reflect accurate and current construction progress and the status of the remaining available funds.
• Manage mechanic’s lien detection and responsive resolution via interface with Borrower, Title Officer and Lender.
• Order and review all applicable…