Construction Loan Portfolio Manager I

About the Role

Key member of the coverage team for all lines of business, specifically focused on the closing, risk analysis, and administration of commercial investment and owner-occupied construction loans. This role involves reviewing construction-related contracts and loan documents to ensure compliance with Bancorp policies and loan approval structures. You will identify and provide guidance on material deviations to construction loan policies and inconsistencies, escalating issues to the Manager prior to closing. The position assumes a lead role in reviewing and funding commercial construction loans, managing and identifying construction risks associated with disbursements through detailed analysis of project budgets, supporting documentation, and ensuring the loan remains in balance.

This role is critical in tracking project progress, ensuring timely delivery within the approved budget, and preserving the bank’s collateral position by ensuring projects are completed lien-free. You will collaborate with the Manager to provide guidance to LOB and Credit Partners on construction risk and offer solutions to mitigate risk. The position is accountable for risk management, ensuring compliance with policies and procedures, and driving a positive customer experience.

Responsibilities

• Develop and apply knowledge of Commercial Real Estate Policies and Procedures to assigned customers and construction projects.
• Gain a working knowledge of all assigned customers and associated construction projects.
• Review General Contractor, Architect/Engineer agreements, construction budgets, and loan agreements to ensure adherence to bank’s construction policy and alignment with approval.
• Identify and escalate any deviations to the reporting Manager.
• Coordinate the review and resolution of issues identified in third-party plan, spec, and cost reports, as well as Bank’s Consultant’s monthly draw requests. Escalate critical issues to the reporting Manager.
• Review budgets to confirm all sources of funds (equity and loan commitment) are sufficient to complete the project.
• Monitor changes by line item in the project budget and contractor payment applications, pursuing explanations for budget changes and determining acceptability.
• Evaluate if interest reserve and contingency line items remain adequate; escalate out-of-balance situations to the Manager.
• Review and reconcile equity documentation to ensure equity contribution per loan approval has been met.
• Collect and review all post-closing construction-related documentation.
• Identify documentation required pursuant to the loan agreement; recommend and discuss resolutions with the reporting Manager if documentation is insufficient.
• Verify that Construction Loan Administrators (CLAs) are reviewing appropriate draw documentation and provide a high-level secondary review function on draws reviewed by CLAs.
• Communicate project progress and issues (e.g., budget increases, mechanic’s liens, equity needs, project delays) to the reporting Manager.
• Approve advances for commercial construction loan disbursements on assigned portfolio projects.
• Prioritize pending work for multiple projects related to the review and approval of commercial real estate construction loan closings and advances.
• Address participant questions or concerns for agented loans and escalate issues to avoid funding delays.
• Develop relationships with LOB and Credit Risk Partners as a trusted advisor for construction loan administration.
• Order and review title updates or endorsements, identify exceptions, and pursue remedies to remove exceptions.
• Ensure all appropriate lien waivers are collected, reviewed for accuracy, and corrected if necessary.
• Review inspection reports, identify issues, and raise them to the reporting Manager with suggestions for resolution.
• Identify early warning signs of fraud or project changes that may impact timely and on-budget project completion.
• Complete all internal forms required for closings, disbursements, tracking, and compliance with RCSA.
• Review interest payments completed by Construction Loan Administrators and ensure monthly interest reserve reporting for management is completed by the deadline.
• Ensure timely payments to outside vendors engaged in the disbursement process.
• Maintain current and accurate information for all portfolio reporting prepared for Management.
• Supply information for internal and external audits as requested.
• Establish and manage construction files on shared drive and CLA SharePoint; ensure loans are properly set up, coded, and updated on commercial loan systems.

Requirements

• Degree in Business or Accounting preferred with 1 year of credit analysis and/or loan review experience, preferably in commercial construction within the banking industry.
• Alternatively, 5+ years of construction-related experience.
• 5+ years administering commercial construction loan disbursements.
• Ability to identify construction risks.
• Strong verbal and written communication skills.
• Understanding of internal operation functions and commercial real estate lending.
• Customer-facing experience preferred, with the ability to utilize effective problem-solving skills.
• Ability to work in a deadline-driven environment and multitask.
• Proficient with MS-Windows and related PC applications, specifically Excel spreadsheets.
• Ability to execute with limited supervision.

All the above duties and responsibilities are essential job functions for which reasonable accommodation will be made. All job requirements listed indicate the minimum level of knowledge, skills, and/or ability deemed necessary to perform the job proficiently.

Pay

Total Base Pay Range: $71,100.00 - $145,900.00 USD annually.

The base salary for this position reflects the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education, and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with payments based on company, line of business, and/or individual performance.

Benefits

Fifth Third offers comprehensive benefits designed to support the physical, financial, emotional, and social well-being of employees and their families. Benefits include:

• Extensive physical, financial, emotional, and social well-being programs.
• Additional details available on the 53.com Careers page.

Location

Rosemont, Illinois 60018