Client Advocate (Construction Draw Specialist)

  • Competitive
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • Bank of America Corporation
  • 20 Mar 18 2018-03-20

Client Advocate (Construction Draw Specialist)

Job Description:

The Client Advocate serves as a process coordinator providing pipeline oversight to ensure business goals are obtained. Works directly with Team Leader and employees to provide consistent pipeline management routines that support: pipeline coverage, quality processing, end to end process adherence and drive client delight. May facilitate resolution by bringing together the appropriate teammates or third parties. Fully understands the loan process and able to explain loan attributes and loan decisions. Assure that all customer files are complete and in compliance with regulatory agencies and internal policies. Ensure customer privacy and confidentiality. Identify root cause and solve for deficiencies in the fulfillment process that would impact the client experience. Acts as a subject matter expert.

Primary Responsibilities:
• Monitor construction projects by identifying any potential credit risks and managing the process to mitigate those risks.
• Keep CMU and RM informed of any issues that develop
• Order and review inspections, title updates, subsequent surveys and appraisals as needed
• Analyze draw requests - ensure disbursements are in conformance with terms and conditions of approval and recommendations of inspector's report.
• Provide sale office/client with equity update letter
• Process payment of advances
• Execute wire transfer (if applicable)
• Set-up project workbook including budget spreadsheet, disbursement guidelines, draw request review and equity letter
• Ensure all loan disbursements are in accordance with the original credit approval and any subsequent deviations are approved by CMU.
• Review invoices for payment to vendors and allocate accordingly
• Clear collateral documents exceptions and deliver documentation to the various GWIM Credit Services sites for system updates
• Ensure accuracy of work and timeliness of all communication
• Actively participate /lead projects as needed.
• Maintain the Custom Mortgage Fulfillment "sense of urgency" and "white glove" service to our clients and sales partners

Required Skills:
• Able to perform by demonstrating composure and sound thinking in a high volume, high pressure, quick turnaround environment - supporting high net worth Private Bank clients
• Good time management skills, ability to multi-task, well organized, self-motivated
• Requires minimal supervision while maintaining high productivity
• Exhibits ability to build relationships both internally and externally
• Proficient knowledge of the following systems: Microsoft Word, Excel and Access
• Familiarity with residential real estate loan documentation, appraisals and inspections
• Proficiency in preparing and/or reviewing residential real estate documents for highly complex loan types, including manual preparation of all required compliance documents
• Good understanding of construction contracts, budgets and draw monitoring process
• Excellent written and verbal communication, strong customer service skills

Desired Skills:
• Excellent understanding of collateral perfection requirements, consumer compliance regulations, credit risk assessments, and state law requirements to support a manual end to end process
• Proficient knowledge of the following systems: AFS Commercial Loan, Lotus Notes, BFT Wire, E-Requests (vendor payments)
• Good understanding of all Custom Mortgage Products

1st shift (United States of America)

Hours Per Week: