BANC OF CALIFORNIA AND YOUR CAREER

Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services, with full-service branches throughout California and Denver, Colorado, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more.

At Banc of California, our success is driven by our people, and we take pride in fostering an environment where everyone can reach their full potential. We embrace a culture of empowerment, progressive thinking, and entrepreneurial spirit, ensuring our team members have an opportunity to make an impact and play an important role in the future of Banc of California. Our core values – Entrepreneurialism, Operational Excellence, and Superior Analytics – empower us in creating a dynamic and inclusive workplace. We are committed to supporting your growth and well-being with comprehensive benefits, career development programs, a variety of employee resource groups, and more. TOGETHER WE WIN®

 

THE OPPORTUNITY

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.

 

HOW YOU’LL MAKE A DIFFERENCE

• 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 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 reconveyances for REIG subdivision projects.

• Work with other REIG Team members to monitor and clear ticklers and exceptions.

• Follow up for receipt and completion of all information in a timely manner.

• Complete special projects as assigned.

• Complete error-free accounting work.

• Assure proper handling of requests and coordination of lien releases and receipts and compliance with Bank construction funding procedures on assigned files.

• Confirm all equity payment and verification thereof on assigned files.

• Maintain standards for construction files and documentation requirements for draws and verifications of payment.

• Review all construction contracts and budgets for coherence and compliance with Bank requirements on assigned files.

• Approve final payment and audit construction file for sign off, approved return to regular loan file on assigned files.

• Confirm appropriate title endorsements are ordered, obtained and managed in file as required on assigned files.

• Review filing and management of Preliminary Notices received on assigned files.

• Audit monthly interest payments due on assigned files.

• Review mechanics liens and/or contractor disputes on assigned files and provide loan officer and management with recommended action.

• Treat people with respect; keep commitments; inspire the trust of others; work ethically and with integrity; uphold organizational values; accept responsibility for own actions.

• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.

• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.

• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.

• Performs other duties and projects as assigned.

 

WHAT YOU’LL BRING

• 7-10 years construction disbursement processing experience or an equivalent is required

• High School Diploma or equivalent is required

• College degree or equivalent experience is preferred

• Strong familiarity with real estate loan servicing and accounting systems

• Ability to work at a high level with complex Excel spreadsheets, Word and Outlook

• Ability to create reports

• Ability to audit all disbursements efficiently using the Bank’s accounting and loan systems

• Ability to create reports and tracking spreadsheets

• Basic knowledge of real estate, escrow, title UCC, and lender due-diligence processes

• Strong knowledge of the construction process and typical disbursement requirements

• Ability to manage multiple tasks/projects and deadlines simultaneously

• Possess strong analytical skills

• Be a self-starter and detail oriented

• Knowledge of IBS

 

HOW WE’LL SUPPORT YOU

 

Financial Security: You will be eligible to participate in a 401k plan in which the Bank will match 100% of the first 4% of your contributions, which is immediately vested. Health & Well-Being: We offer comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA). Building & Supporting Your Family: Banc of California partners with providers that offer adoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family. Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off. Career Growth Opportunities: To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.

 

SALARY RANGE

The base salary ultimately offered is determined through a review of education, industry experience, training, knowledge, skills, abilities of the applicant in alignment with market data and other factors.

Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation. If you require reasonable accommodation as part of the application process, please contact Talent Acquisition.

REFERRAL BONUS: $2,500.00 USD