Construction Credit Associate

ID
2022-16206
Job Locations
US-CA-San Francisco
Category
Credit Administration and Approval

 

At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here. 

 

Incredible teams doing exceptional work, every day

The Credit Approval & Administration team provides education, guidance, and best practices related to First Republic’s credit culture and policy.  Our team includes members of the Executive Loan Committee and Credit Administration who approve and monitor loans in accordance with our credit culture and policy.

 

Common goals, uncommon potential 

The Construction Credit Associate will help monitor and identify risk within the construction and land loan portfolios with a core focus on monthly and quarterly reporting, research and analysis, and problem resolution, as needed.

 

Additional responsibilities include but are not limited to interacting with Credit Officers, Relationship Managers, Clients and external Funds Control companies in order to minimize construction related risks to the Bank.

 

What you’ll do as a Construction Credit Associate:

  • Responsible for reviewing and tracking all construction loan originations and conversions through monthly reporting. Update loan information in the Construction Database as required.

  • Communicate with Relationship Managers, Funds Control companies and Clients on daily disbursements and budget or draw reconciliation, as required.  Ensure all construction related documentation is uploaded to OnBase in a timely manner.

  • Coordinate the Quarterly Construction Portfolio Reviews with construction Relationship Managers and ELC. Documents topics discussed and any identified risks within the portfolio.

  • Review construction conversion and permanent loan conversion packages as well as Contractor approval packages for completeness and/or any exceptions or conditions. Upon review, reviewed packages are to be submitted to ELC for approval.  

  • Support Construction Loan Monitoring and Credit Admin in preparing and/or providing documentation and information to internal and external auditors upon request.

  • Analyze, update and review the monthly construction, hard cost, interest reserve and flag reports for elevated risk characteristics.  Communicate findings to ELC and Senior Management.  Monitor project variances, latest project draw dates and other characteristics to identify loans with higher potential loss probability.

  • Assist the Department in performing ad hoc projects and reports as directed

  • Update and maintain FRB’s HVCRE list and analyze new construction loan originations for HVCRE classification and reporting.

  • Organize, review and approve draw requests for various projects designated as internal funds control (“internally reviewed”).

  • Perform project due diligence as needed, such as reviewing construction contracts or project budget to confirm elements meet FRB guidelines

  • Review insurance coverages to confirm compliance with FRB guidelines. This includes reviewing and approving acceptable insurance coverages and title policy endorsements on current construction projects

  • Perform periodic portfolio clean up and update and closeout completed projects with funds control.

  • Manage and maintain the monthly invoice process for third-party funds control vendors, legal partners and other associated parties.   

  • Maintain exceptional levels of customer service. Respond to calls and emails from clients, GCs and RMs. Work through client issues and disputes regarding draw issues, cutbacks and equity requirements. 
  • Manage the Contractor Approval process, such as reviewing and approving contractor due diligence packages. Coordinate with funds control (CFSI) for external GC reviews. Update and maintain the  monthly list of approved/declined GCs.
  • Perform other duties & responsibilities as required or assigned by supervisor.
  • Additional responsibilities include:  1) adhering to and complying with the applicable, federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.) 2) adhering to Bank policies and procedures, 3) completing required training, 4) identifying and reporting suspicious activity to the AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank. 

 

You could be a great fit if you have:

  • College graduate with two to four years of previous residential and commercial construction experience required. Familiarity in MS Office, particularly Excel and Access. Must have strong communication skills, both written and verbal, and be highly organized. Must have a strong work ethic and be a problem solver who is highly motivated and independent.

  • Advanced familiarity with understanding and interpreting construction documentation including, budgets, contracts and construction loan documents. Ability to analyze and interpret contractor draw packages and related documentation.

Job Demands:

  • Must be able to review and analyze data reports and manuals; must be computer proficient.
  • Must be able to communicate effectively via telephone and in person.

Own your work and your career — apply now

Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career?  If so, then come join us.

 

We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability — that’s the First Republic way.

 

We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic.

 

If you are curious to learn more about this opportunity, we'd love to hear from you.

 

This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.

 

First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.

 

For New York City-based roles: Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.

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