Construction Risk Specialist

Construction Risk Specialist

Requirements

• Bachelor’s degree in business, real estate, finance, or related field or equivalent professional experience.
• Customer service focus.
• Excellent written and verbal communication skills.
• Ability to work independently and handle multiple priorities at once.
• Team player – committed to working in a collaborative environment.
• Proficiency in Microsoft Office programs, including Word, Excel, Outlook, PowerPoint.
• Superior organization and time management skills with attention to detail.
• Knowledge and experience of best practices in construction industry including the construction draw process.
• Working knowledge of financial and real estate development terms.
• Ability to analyze financial statements, tax returns, and other financial documents.

Responsibilities

• Working with CDF Loan Officers, developers, and general contractors to verify the project’s construction budget sufficiency based on industry and project knowledge. Establish a construction disbursement process for each deal. Initiate and manage pre-construction meetings.
• Work closely with CDF’s Finance staff to process draw requests in a timely manner.
• Monitor construction projects through monthly construction draw meetings at the site, site inspections or occasional site visits/inspections, as required by the level of complexity of the project.
• Report the status of CDF construction loans on a regular basis and immediately notify the Credit Risk Manager of any problems that threaten loan quality or create funding problems.
• Work with the Credit Risk Manager and borrower to resolve issues.
• Update and maintain a Construction Cost Database to monitor and measure CDF projects’ historical performance to predict accurate cost estimations.
• Maintain a Construction Management report that summarizes progress of each construction project. Present the report to the Lending department monthly.
• Work with the Portfolio Manager to ensure that all conditions for conversion from construction to permanent loan status are met; ensure that the responsibilities for each converted loan are properly transferred to the appropriate CDF staff.
• Gather, verify, and analyze documents in loan files, such as credit reports, loan applications, title policies, appraisals, and financial statements.
• Work with the Credit Risk Manager to perform credit analysis and determine repayment probability using risk management matrices.
• Sign off on underwriting loan conditions according to underwriting guidelines.

Preferred Qualifications

• 3-5 years of experience in commercial real estate financing, banking, or similar field.
• Experience in historic preservation/renovation.