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 timely delivery, adherence to the approved budget, and completion free of liens to preserve the bank’s collateral position.
• Provide guidance and training to LOB and Credit Partners on construction risk and offer solutions to mitigate risk.
• Review General Contractor, Architect/Engineer agreements, construction budgets, and loan agreements to ensure adherence to bank policies and alignment with loan approval.
• Coordinate the review and resolution of issues identified in third-party plan, spec, and cost reports, as well as the Bank’s Consultants for monthly draw requests.
• Review budgets to confirm all sources of funds (e.g., equity, loan commitment) are sufficient to complete the project. Monitor budget changes and contractor payment applications, and evaluate the adequacy of interest reserve and contingency line items.
• Escalate 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 of draws.
• 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 monthly interest reserve reporting is completed by the deadline.
• 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 in commercial loan systems.
• Mentor and develop junior team members and partners.
• Provide timely, candid, and constructive performance feedback to CLAs and CLPMs, fostering employee growth and career development.

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 experience closing and administering complex commercial construction loans.
• Expert knowledge of Commercial Real Estate Policies and Procedures.
• 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.
• 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 the bank’s internal applications is a plus.
• Ability to execute with minimal to no supervision.

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 support employees’ physical, financial, emotional, and social well-being. Learn more about our benefits on the 53.com Careers page.

Pay

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

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, experience, education, and geographic location. In addition to 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.

Schedule

Location: Rosemont, Illinois 60018