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 involves construction risk analysis and administration of complex commercial investment and owner-occupied construction loans.

Responsibilities

• Expert knowledge of Commercial Real Estate Policies and Procedures.
• Accountable for 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.
• Coordinate the review and resolution of issues identified in third-party plan, spec, and cost reports, as well as coordination of the Bank’s Consultants for monthly draw requests.
• 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; pursue explanations for budget changes and determine acceptability.
• Evaluate if interest reserve and contingency line items remain adequate; escalate out-of-balance situations to LOB and Credit Risk partners.
• 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 loan agreement; recommend alternate solutions if documentation is insufficient.
• Verify that Construction Loan Administrators (CLAs) are reviewing appropriate draw documentation; provide high-level secondary review on draws reviewed by CLAs.
• Communicate with LOB and Credit Risk partners regarding project progress and issues such as budget increases, mechanic's liens, equity needs, and project delays.
• Approve commercial construction loan disbursements for all types of commercial construction projects originated by all LOBs.
• Coordinate with internal partners on syndicated or participated loans to establish a portal for sharing draw documentation with participant banks; address participant questions or concerns.
• Order and review title updates or endorsements; identify exceptions and pursue remedies; ensure all appropriate lien waivers are collected and reviewed for accuracy.
• Review inspection reports, identify issues, raise them to LOB and Credit Risk Partners, and provide recommendations for resolution.
• Identify early warning signs of fraud or project changes that may impact project completion on time and within budget.
• 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; ensure loans are properly set up, coded, and updated on commercial loan systems.
• Mentor and develop junior team members and partners.

Supervisory Responsibilities

• May have supervisory responsibility.
• Provide CLAs and CLPMs with timely, candid, and constructive performance feedback.
• Develop employees to their fullest potential and provide challenging opportunities that enhance career growth.
• Develop the appropriate 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 business-related experience.
• 10+ years of 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 operation functions and commercial real estate lending.
• Skilled in problem-solving and customer service.
• Self-starter with the ability to work in a deadline-driven environment and multitask with excellent attention to detail.
• Strong proficiency in basic software applications such as Microsoft Word and Excel; proficiency with the bank’s 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, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities, and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.

• Base salary reflective of the range of salary levels for all roles within this pay grade across the U.S.
• Eligibility to participate in an incentive compensation plan, with payment based on company, line of business, and/or individual performance.
• Extensive benefits programs designed to support physical, financial, emotional, and social well-being. Learn more on our 53.com Careers page.

Location

Rosemont, Illinois 60018