Construction Loan Administrator

001 The Northern Trust Company; Chicago (IL); On-site; USD 74,000 - 126,000; Full time

Benefits offered by this job

401k and pension

Health and welfare benefits

Paid time off

Parental and caregiver leave

Life & accident insurance

Other wellbeing benefits

Discretionary bonus program

Job summary

Northern Trust is seeking a seasoned professional to administer construction loans (commercial and residential) and underwrite risk with lending officers. You will counsel clients on banking products, regulatory changes, and market trends to structure strong loan proposals.

Travel to client locations is expected; you will monitor creditworthiness, prepare loan proposals, and coordinate fund release at each stage of construction, ensuring a high-quality loan portfolio.

Qualifications

• 5+ years in commercial or residential real estate construction, draw administration, client servicing, and lending experience.

Responsibilities

• Administers construction loans (commercial and residential) with lending officers to underwrite risk.
• Counsels clients on banking products/services, regulatory changes, and market trends.
• Keeps abreast of market developments to better service clients.
• Structures and negotiates complex loan agreements per guidelines from senior management.
• Analyzes credit risk related to real estate development teams and project issues.
• Oversees fund release requirements at each construction stage.
• Coordinates inspections to ensure repayment.
• Assists in monitoring client creditworthiness and prepares proposals for loan committees.

Skills

Real estate construction experience

Credit underwriting

Client relationship management

Negotiation

Analytical skills

Excel proficiency

Tools

Excel

Job description

About Northern Trust

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust (Nasdaq: NTRS) is proud to guide the world’s most successful individuals, families, corporations and institutions. Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide. With more than 135 years of financial experience and over 24,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Key Responsibilities

• Administers construction loans (both commercial and residential), working with real estate lending officers to underwrite all construction risk issues.
• Counsels client on emerging issues, bank products/services, legal/regulatory changes, and general environment, translating the impact on client’s activities and banking services.
• Keeps abreast of current developments and market trends to better identify and service clients.
• Assists in structuring and negotiating complex loan agreements according to guidelines established by senior bank and business unit management.
• Assists in analyzing and quantifying risk associated with the real estate development team, including sponsor, architect and contractor, project market issues, and repayment risk, including holdbacks and restrictions.
• Defines and oversees the requirements for the release of funds at each stage in the construction process.
• Coordinates inspections to ensure repayment.
• Assists in monitoring and evaluating the credit worthiness of clients and prospects which includes a written document and presentation to loan committee and credit policy to ensure a high quality loan portfolio, (i.e., KNOW YOUR CLIENT).
• Assists in preparing proposals to address client needs and making sales presentations.
• Travels regularly to client locations.

Candidate Benefits

• In depth knowledge of finance and relevant business segment specific issues usually acquired through prior commercial real estate experience is required to manage client relationships.
• Skills in negotiation, leadership, and sales are necessary to service the client relationship.
• Knowledge of real estate industry and construction is required to authorize release of funds.
• Knowledge of applicable industry laws and regulations, usually acquired through prior lending experience or through completion of the lending program, is required to structure loans.
• Analytical skills are required to review credit and make recommendations.
• Proficient in Excel; familiarity with banking, loan, and client management systems.
• 5+ years in commercial or residential real estate construction, draw administration, client servicing, and lending experience, including experience in reviewing legal documentation necessary for subject loans.

Salary Range

Salary Range: $74,200 - 126,200 USDSalary range is a good faith estimate of base pay.

Benefits Package

• Retirement benefits (401k and pension)
• Health and welfare benefits (medical, dental, vision, spending accounts and disability)
• Paid time off
• Parental and caregiver leave
• Life & accident insurance
• Other voluntary and well-being benefits

Northern Trust also provides a discretionary bonus program that may include an equity component.

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Working with Us

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to an inclusive workplace and assisting the communities we serve. Philanthropy is deeply rooted in Northern Trust’s history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at [e-mail], or alternatively you can discuss your individual requirements with the recruiter you are working with.

Looking for Greater?

You found it. A global financial leader with more than 22,000 employees in 23 locations worldwide, Northern Trust empowers our employees to achieve more than just business goals. Our focus on work-life balance, career mobility and unique opportunities are just a few of the reasons we’ve been named one of the world’s most admired companies.

Terms and Conditions

Candidate Privacy Notice California Applicant Privacy Notice Pay Transparency Nondiscrimination Provision (U.S) Transparency in Coverage Disclosure – North America

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), [phone] (Asia Pacific), 1800-425-0333 (India), [phone] (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

APAC/INDIA EEO STATEMENT It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

Canada EEO STATEMENT Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

EMEA EEO STATEMENT It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

USA EEO STATEMENT It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status.