Construction Fund Administrator

Company: Ascent Developer Solutions
Location: Los Angeles
Posted on: March 1, 2025

Job Description:

About AscentAscent Developer Solutions is a leading private lending platform, serving real estate developers nationwide in the acquisition, renovation, and construction of residential real estate. Founded by a leadership team with a deep understanding and personal experience in virtually every facet of real estate development, Ascent is uniquely positioned to create custom, innovative lending solutions for a variety of real estate development business strategies.

The RoleThe Construction Draw Administrator plays a vital role in financial management and successful execution of construction projects by ensuring that funds are managed efficiently and that financial transactions are transparent and properly documented. They are responsible for managing and overseeing the disbursement of funds for construction projects, providing regular updates to the team, and identifying issues early to keep projects on schedule.
The Work

• Monitor the company"s client portal for client questions & new construction draw requests Leveraging technology to download & manage draw request files, and following up with clients for missing information or incomplete documentation
• Monitor the Team"s draw request pipeline, and following up with internal/external parties to ensure the process is streamlined
• Reviewing client communication, documents, and draw requests for accuracy and compliance with borrower guidelines
• Collaborating with company leaders in the execution of special projects, new programs, and ad-hoc requests as needed.
• Review requests for funds (draw requests) submitted by contractors or developers. These requests usually include detailed documentation of the work completed, expenses incurred, and any supporting invoices or receipts.
• Verify that the work claimed in the draw request has been completed, by conducting site inspections or coordinating with third-party inspectors.
• Ensure that the projects comply with contractual agreements, local regulations, and industry standards, including verifying that all necessary permits are in place and that the work adheres to the approved project plans.
• Manage the schedule and amount of fund disbursement based on the project"s progress and the terms of the construction loan or financing agreement.
• Ensure that payments are made accurately and on time to avoid project delays.
• Maintain detailed and accurate records of all transactions, draw requests, approvals, and payments.
• Provide regular reports to stakeholders such as lenders, investors, and project owners.
• Identify and mitigate potential risks associated with the disbursement of funds.
• Ensure that the project stays within budget and address any discrepancies or issues that arise during the construction process.
• Act as a liaison between various parties involved in the project, including contractors, developers, lenders, and inspectors.Your Skills and Experience
  • Bachelor's degree in construction management, architecture, engineering, finance, accounting, or a related field is often preferred.
  • 5+ years of experience managing or coordinating construction projects, including knowledge of project planning, scheduling, finance, and compliance.
  • Ability to meticulously review documentation and ensure accuracy in financial transactions and compliance with contracts and regulations.
  • Effective verbal and written communication skills to liaise with contractors, developers, lenders, and other stakeholders.
  • Proficiency in relevant software such as construction management software (e.g., Procore, Buildertrend), financial software (e.g., QuickBooks, Sage), and general office software (e.g., Microsoft Office Suite).
  • Experience resolving issues related to project financing, discrepancies in documentation, and compliance challenges.
  • Strong organizational abilities to manage multiple projects, maintain detailed records, and ensure timely disbursements.
  • Expert knowledge of local, state, and federal construction regulations, building codes, and industry standards.
  • High ethical standards and professionalism, as the role involves handling significant financial transactions and sensitive information.
  • Professional certifications such as the Certified Construction Manager (CCM), Project Management Professional (PMP), or other relevant certifications can enhance a candidate"s qualifications.The PaySalary range is $70k-$80k per year, with a discretionary bonus adding up to 15% per year.
    Ascent's BenefitsWe offer a comprehensive benefits package designed to support your health, well-being, and work-life balance. Our benefits include five health plans, four dental plans, health savings and flexible spending accounts, vision coverage, and other optional benefits to choose from.
    Ascent's PledgeWe pledge to be fair and considerate in hiring and promoting individuals, ensuring everyone can contribute their fullest potential regardless of background, identity, or personal circumstances. By promoting equal opportunity, we not only enhance our workplace but also contribute to a more just and equitable society. At Ascent, we stand united in building a community where everyone is empowered to succeed. Thank you for joining us on our journey towards a more inclusive future.
    
    
    
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Keywords: Ascent Developer Solutions, Los Angeles , Construction Fund Administrator, Professions , Los Angeles, California