Welcome page Returning Candidate? Log In Here Senior Construction Disbursement Specialist Location US-CA-El Monte Job ID 2024-11408 Category Banking Operations/Back Office Position Type Full-Time Introduction Since 1973, East West Bank has served as a pathway to success. With over 120 locations across the U.S. and Asia, 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.  Overview

 The Senior Construction Disbursement Specialist is responsible for the servicing of complex Commercial Construction Project and Construction Loans such as Syndication & Bonds with activities including but not limited to; set up of the construction loans and budget into CLCS, the disbursement of construction loan draws within established budget, the 2nd review of all data entered in CLCS and review of Construction Loan Agreement and its Budget.

Responsibilities Review the CCR and loan agreement ensuring proper terms and budget are within the approved credit.Onboard 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. Perform 2nd review quality control of all loan set up in CLCSObtain approval for budget change request line itemReconcile borrower’s construction loan budget to the bank’s recordsProcess construction loan disbursements Prepare Deposit or wire transaction and enter in CLCS. Obtain title insurance date down/change orders for draw request. Order third party inspection reports, process invoicing and reconciliationTrack and follow up on receipt and approval of inspection and title date down reports. Monitor use of borrower’s soft cost funds and disbursing funds on borrower’s behalf.Monitor interest reserve adequacy on all accounts Monitor and reconcile Construction Loan Disbursement ReportMaintain and monitor current property and general liability insurance in accordance with established guidelines/procedures for all filesInterface with relationship managers, title companies, construction services, appraisal, and accounting departments. Respond to internal inquiries on the above processesPerform End of Day BalancingProvide training to Disbursement SpecialistParticipate in the establishment of procedures and workflow for the teamPrepare 1099 year end reportingProcess all other miscellaneous activities as requested Qualifications Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work related experienceMinimum 5 years of work experience in commercial real estate construction loan Administration Knowledge of complex construction finance with multiple phasesExperience with complex loan structured including Syndication & BondThorough understanding of Construction Loan Agreement and its covenants and provisions relative to construction disbursement and budgetThorough experience with collateral perfection and Title PoliciesConstruction Loan system experience required with CLCS knowledge preferredProficient in Microsoft Office with advance Excel skills preferredExcellent written and verbal communication skills requiredGood organizational, analytical and problem solving skillsAbility to handle multiple tasks with excellent attention to detailAbility to organize and maintain a high volume work environmentAbility to adapt quickly to changes and perform in a fast paced environmentAbility to build effective relationships as needed to effectively address issues and obstacles Compensation The base pay range for this position is USD $35.00/Hr. - USD $40.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location. Options Apply for this job onlineApplyShareEmail this job to a friendRefer <p style="margin: 0px;"><span style="color: #54585a;">Sorry the Share function is not working properly at this moment. Please refresh the page and try again later.</span></p> Share on your newsfeed

East West Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other legally protected status. Reasonable accommodations for disability are provided to applicants and employees in accordance with applicable law. Application FAQs

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