Construction Loan Portfolio Manager I

About the Role

Key member of the coverage team responsible for 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 prior to closing. Additionally, you will lead the review and funding of commercial construction loans, managing and identifying construction risks associated with loan disbursements.

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 coordinate the Bank’s Consultants for monthly draw requests.
• Review project budgets to confirm sufficiency of all sources of funds, such as equity and loan commitment.
• Monitor changes in the project budget and contractor payment applications, pursuing explanations for budget changes and determining acceptability.
• Evaluate adequacy of interest reserve and contingency line items, escalating out-of-balance situations to the Manager.
• Review and reconcile equity documentation to ensure equity contribution per loan approval is met.
• Collect and review all post-closing construction-related documentation.
• Identify required documentation pursuant to the loan agreement; recommend and discuss resolutions with the reporting Manager.
• Verify that Construction Loan Administrators (CLAs) review appropriate draw documentation and provide a high-level secondary review function on draws.
• 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 suggested resolutions.
• 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 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, ensuring 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, or 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 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.

Pay

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

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 physical, financial, emotional, and social well-being. Benefits include:

• Extensive health and wellness programs.
• Retirement savings plans.
• Paid time off and leave options.
• Employee assistance programs.
• Additional perks and resources tailored to individual and family needs.

For more details, visit the Fifth Third Careers Benefits page.

Location

Rosemont, Illinois 60018