Sr Construction Disbursement Administrator

Construction Loan Disbursement Specialist

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.

The Opportunity:

Work directly and independently with construction contractors/project managers, third party inspection firms, fund control companies, title insurers, borrowers, accountants, and lenders to 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.

How You'll Make a Difference:

At loan closing and in conjunction with the REIG lender, establish the final Master Funding Ledger to include all funding sources and uses utilizing construction budgets and loan closing statements. Verify and allocate project equity, for hard and soft costs. At loan closing and in conjunction with the REIG lender, review and approve the initial Master Funding Ledger prepared by REIG disbursement team members to include all funding sources and uses utilizing construction budgets and loan closing statements.

Ensure project budgets are accurately set up through approved fund control companies. Facilitate 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. As required approve funding packages prepared by REIG disbursement team members. 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 endorsements, including but not limited to, foundation and incremental increased coverage endorsements. Obtain rewrite title policies as applicable. Establish and maintain paper and electronic files for assigned construction projects in accordance with REIG and Bank policies and procedures. Periodically review/audit REIG construction files to ensure audit readiness.

Process partial demands and re-conveyances for REIG subdivision projects. Work with other REIG Team members to monitor and clear ticklers and exceptions. Complete monthly certifications as assigned. Follow up for receipt and completion of all information in a timely manner. Special projects as assigned. Complete error-free accounting work. Follow all established policies and…