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 and supporting documentation.

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 funding sources (equity, loan commitment) are sufficient to complete the project.
• Monitor changes in project budgets and contractor payment applications, pursuing explanations for budget changes and determining acceptability.
• Evaluate adequacy of interest reserve and contingency line items; escalate 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 for presentation to LOB and Borrower if documentation is insufficient.
• Verify that Construction Loan Administrators (CLAs) review appropriate draw documentation; provide a high-level secondary review of 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 and identify issues, raising 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 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, 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; 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.

Pay

Total Base Pay Range: $71,100.00 - $145,900.00 USD annually. The base salary reflects the range for this pay grade across the U.S. Individual salaries within this range vary based on factors such as role, relevant skillset, experience, education, and geographic location. This role is also 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 53.com Careers page.

Location

Rosemont, Illinois 60018