Construction Draw Administrator at Ascent Developer Solutions

Los Angeles, California, United States -

Full Time

Start Date

Immediate

Expiry Date

30 Apr, 26

Salary

80000.0

Posted On

30 Jan, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Construction Management, Financial Management, Documentation Review, Communication Skills, Organizational Skills, Regulatory Compliance, Project Planning, Scheduling, Problem Solving, Attention to Detail, Software Proficiency, Risk Management, Stakeholder Reporting, Site Inspections, Team Collaboration, Ethical Standards

Industry

Financial Services

Description

About Ascent Ascent 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 Role The 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 and ensure communication across the team to ensure that everyone is informed about any issues that need to be addressed. Your Skills & Experience Bachelor’s degree in construction management, architecture, engineering, finance, accounting, or a related field is often preferred. 3-5 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 Pay $70,000 - $80,000 per year 15% annual bonus The Work Environment This role works on-site from Ascent's Encino office, Monday - Thursday (Fridays are work-from-home). Full-time, 40 hours per week; must be available for occasional overtime. Some nights and weekends required. Our Benefits We offer a comprehensive benefits package designed to support your health, well-being, and work-life balance. Our benefits include five health plans, two dental plans, health savings and flexible spending accounts, vision coverage, a 401(k) plan, and other optional benefits from which to choose. Our Pledge We 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.

Responsibilities

The Construction Draw Administrator is responsible for managing the disbursement of funds for construction projects and ensuring financial transactions are transparent and properly documented. They monitor draw requests, verify compliance with regulations, and maintain detailed records of all transactions.