Senior Construction Loan Portfolio Manager

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About the role

The Senior Construction Loan Portfolio Manager is intimately involved in all aspects of closing and monitoring construction loans in their portfolio. They manage very complex transactions and are relied on by business partners as a key member of the coverage team. This role focuses on construction risk analysis and administration of complex commercial investment and owner-occupied construction loans.

Responsibilities

• Review construction-related contracts and loan documents to ensure compliance with Bancorp policies, procedures, and loan approval structure. Identify and provide guidance on material deviations or inconsistencies prior to closing.
• Lead the review and funding of complex commercial construction loans, proactively identifying potential project risks.
• Interact regularly with borrowers, general contractors, inspectors, and title companies to ensure alignment of communication.
• Manage and identify construction risks associated with commercial construction loan disbursements by analyzing project budgets, reviewing supporting documentation, and ensuring the loan remains in balance.
• Track project progress to ensure scheduled delivery, approved budget adherence, and lien-free completion to preserve the bank’s collateral position.
• Provide guidance and training to LOB and Credit Partners on construction risk and risk-mitigation solutions.
• Review General Contractor, Architect/Engineer agreements, construction budgets, and loan agreements to ensure adherence to bank policies and alignment with approvals.
• Coordinate the review and resolution of issues identified in third-party plan, spec, and cost reports, as well as Bank Consultants’ monthly draw requests.
• Review budgets to confirm sufficiency of all funding sources, such as equity and loan commitments, and monitor budget changes by line item.
• Evaluate the adequacy of interest reserve and contingency line items, escalating out-of-balance situations to LOB and Credit Risk partners.
• Review and reconcile equity documentation to ensure contributions meet loan approval requirements.
• Collect and review all post-closing construction-related documentation and identify required documentation pursuant to the loan agreement.
• Verify that Construction Loan Administrators (CLAs) review appropriate draw documentation and provide a high-level secondary review function.
• Communicate project progress and issues (e.g., budget increases, mechanic’s liens, equity needs, project delays) to LOB and Credit Risk partners.
• Approve commercial construction loan disbursements for all types of projects originated by all LOBs.
• Coordinate with internal partners on syndicated or participated loans to establish portals for sharing draw documentation and address participant questions or concerns.
• Order and review title updates or endorsements, identify exceptions, and pursue remedies to remove exceptions. Ensure collection and accuracy of lien waivers.
• Review inspection reports, identify issues, and provide recommendations for resolution to LOB and Credit Risk Partners.
• Identify early warning signs of fraud or project changes that may impact timely and on-budget completion.
• Complete internal forms required for closings, disbursements, tracking, and compliance with RCSA.
• Review interest payments completed by CLAs and ensure timely monthly interest reserve reporting for management.
• Ensure timely payments to outside vendors engaged in the disbursement process.
• Maintain current and accurate portfolio reporting for Management and supply information for internal and external audits.
• Establish and manage construction files on shared drives and CLA SharePoint, ensuring proper setup, coding, and updates on commercial loan systems.
• Mentor and develop junior team members and partners.

Supervisory Responsibilities

• May have supervisory responsibility for CLAs and CLPMs, providing timely, candid, and constructive performance feedback.
• Develop employees to their fullest potential, offering challenging opportunities for career growth.
• Build and maintain a talent pool to ensure adequate bench strength and succession planning.
• Recognize and reward employees for accomplishments.

Requirements

• Degree in Business or Accounting preferred.
• 5+ years of credit analysis and/or loan review experience, preferably in commercial construction within the banking industry, or 5+ years of relevant business experience.
• 10+ years of experience closing and administering complex commercial construction loans.
• Proven ability to identify construction risks.
• Clear and articulate oral and written communication skills.
• Solid understanding of internal operational functions and commercial real estate lending.
• Strong problem-solving and customer service skills.
• Self-starter with the ability to work in a deadline-driven environment, multitask, and maintain excellent attention to detail.
• Proficiency in Microsoft Word and Excel; familiarity with bank internal applications is a plus.
• Ability to execute with minimal to no supervision.

Pay

Total Base Pay Range: $96,500.00 - $207,500.00 USD Annual

Benefits

At Fifth Third, our Total Rewards include comprehensive benefits and differentiated compensation offerings to support employees’ physical, financial, emotional, and social well-being. In addition to base salary, this role is eligible to participate in an incentive compensation plan based on company, line of business, and/or individual performance. Our benefits programs are designed to meet the individual needs of employees and their families. Learn more about our benefits on the 53.com Careers page.

Location

Rosemont, Illinois 60018