Construction Loan Portfolio Manager I

Fifth Third; Northern (KY); Hybrid; USD 71,000 - 146,000; Full time

Job summary

Fifth Third Bank, National Association, seeks a Construction Loan Portfolio Manager I to join the coverage team in Rosemont, Illinois. You will lead the closing, risk analysis and administration of commercial investment and owner-occupied construction loans, reviewing contracts, budgets and documentation to ensure policy compliance and timely funding.

This role requires 5+ years in construction loan disbursements or 1 year in credit analysis with an accounting background; strong communication

Qualifications

• Degree in Business or Accounting preferred with 1 year of credit analysis and/or loan review experience, preferably commercial construction in 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.
• Requires understanding of internal operation functions and commercial real estate lending.
• Customer facing experience preferred and ability to utilize effective problem solving skills.
• Ability to work in a deadline driven environment and multi task.

Responsibilities

• Possess and/or develops the ability to comprehend and apply knowledge of the Commercial Real Estate Policies and Procedures to all assigned customers and associated construction projects.
• Develop a working knowledge of all assigned customers and associated construction projects.
• Review General Contractor, Architect/Engineer agreements, construction budgets and loan agreement to ensure bank’s construction policy and procedures are adhered and align with approval.
• Identify and escalat any deviations to reporting Manager.
• Responsible for coordinating the review and resolution of any issues identified in the third-party plan, spec and cost reports as well as coordination of Bank’s Consultant’s for monthly draw requests.
• Identify and escalat any critical issues to reporting Manager.

Skills

Credit analysis

Loan review

Verbal communication

Written communication

MS Excel

Multitasking

Problem solving

Time management

Education

Degree in Business or Accounting

Tools

MS Windows

Microsoft Excel

Job description

Make banking a Fifth Third better® We connect great people to great opportunities.

GENERAL FUNCTION

Key Member of the coverage team for all lines of business specifically with the closing, risk analysis and administration of commercial investment and owner occupied construction loans. Prior to loan closing, review construction related contracts as well as loan documents to ensure documentation meets Bancorp policies and procedures and loan approval structure. Develop the ability to identify and provide guidance for any material deviations to construction loan policy/procedures and inconsistencies to Manager that need to be addressed prior to closing. Assume lead role in the review and funding of commercial construction loans. Primary responsibilities include the management and identification of construction risks associated with commercial construction loan disbursements by completing a detailed analysis of project budgets, review sufficiency of supporting documentation and determine whether the loan remains in balance. This critical review allows the bank to track the project’s progress as to the scheduled delivery and approved budget while ensuring the project is completed lien free so that the bank’s collateral position is preserved. Work with Manager to provide guidance to LOB and Credit Partners as it relates to construction risk and offer solutions to mitigate risk. The role is responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES & RESPONSIBILITIES

• Possess and/or develops the ability to comprehend and apply knowledge of the Commercial Real Estate Policies and Procedures to all assigned customers and associated construction projects.
• Develop a working knowledge of all assigned customers and associated construction projects.
• Review General Contractor, Architect/Engineer agreements, construction budgets and loan agreement to ensure bank’s construction policy and procedures are adhered and align with approval.
• Identify and escalat any deviations to reporting Manager.
• Responsible for coordinating the review and resolution of any issues identified in the third-party plan, spec and cost reports as well as coordination of Bank’s Consultant’s for monthly draw requests.
• Identify and escalat any critical issues to reporting Manager.
• Review budgets to confirm all sources of funds such as equity and loan commitment, are sufficient to complete the project.
• Monitor changes by line item in the project budget and contractor payment applications and pursue explanations to budget changes and determine if changes are acceptable.
• Evaluate if interest reserve and contingency line items remain adequate.
• Escalate any out of balance situations to Manager.
• Responsible for review and reconciliation of equity documentation to determine that equity contribution per loan approval has been met.
• Responsible for collecting and reviewing all Post-Closing construction related documentation.
• Identify documentation required pursuant to loan agreement, if documentation is deemed insufficient recommend and discuss resolutions with reporting Manager to be presented to LOB and Borrower.
• Verify that Construction Loan Administrators (CLA’s) are reviewing the appropriate draw documentation.
• Provide high level secondary review function on draws reviewed by CLA’s.
• Communicate with reporting Manager the progress of construction projects and issues that may need to be addressed, such as budget increases, mechanic's liens, equity needs and project delays.
• Approve advances for commercial construction loan disbursements on their assigned portfolio of construction projects.
• Ability to prioritize pending work for multiple projects related to the review and approval of commercial real estate construction loan closings and advances.
• When we agent a loan, address participant questions or concerns and elevate issues as appropriate 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, as applicable, identify exceptions and pursue remedies to remove exceptions.
• Ensure all appropriate lien waivers are collected, reviewed for accuracy and seek corrections if necessary.
• Review inspection reports and have ability to identify and raise issues to reporting Manager with suggestions for resolution.
• Ability to identify early warning signs of fraud or project changes that may impact the completion of project delivering on time and within budget.
• Complete all internal forms required for closings, disbursements and tracking and compliance with RCSA.
• Review interest payments completed by Construction Loan Administrators and ensure monthly interest reserve reporting for management is completed by deadline.
• Responsible for ensuring timely payments to outside vendors engaged in the disbursement process.
• Ensure current and accurate information for all portfolio reporting prepared for Management.
• As requested, supply information for internal and external audits.
• Responsible for establishing and managing construction files on shared drive and CLA SharePoint.
• Ensure loans are properly set-up, coded and updated on the commercial loan systems.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED

• Degree in Business or Accounting preferred with 1 year of credit analysis and/or loan review experience, preferably commercial construction in 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
• Requires understanding of internal operation functions and commercial real estate lending
• Customer facing experience preferred and ability to utilize effective problem solving skills
• Ability to work in a deadline driven environment and multi task
• Proficient with MS-Windows and other related PC applications, specifically Excel spreadsheets
• Ability to execute with limited supervision required

All the above duties and responsibilities are essential job functions for which reasonable accommodation will be made. All job requirements listed indicate the minimum level of knowledge, skills and/or ability deemed necessary to perform the job proficiently. This position description is not to be construed as an exhaustive statement of duties, responsibilities or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodation.

Construction Loan Portfolio Manager I

Construction Loan Portfolio Manager I Total Base Pay Range 71,100.00 - 145,900.00 USD Annual

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. The base salary for this position is reflective of 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, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance. Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.

LOCATION -- Rosemont, Illinois 60018

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.