Construction Risk Manager

National Equity Fund, Inc.; Chicago (IL); On-site; USD 90,000 - 130,000; Full time

Benefits offered by this job

Competitive salary

Comprehensive benefits package

Job summary

National Equity Fund, Inc. is seeking a Construction Risk Manager to lead underwriting and risk analysis for new construction and rehab projects in affordable housing. The role supports the Asset Management department and collaborates with multiple teams to ensure quality, cost and schedule objectives.

You will review development teams, oversee due-diligence, and provide consultation to investors and partners. Strong leadership, communication, and construction knowledge are essential.

Qualifications

• 10 years of progressively responsible experience in construction management, architecture, or engineering; at least 2 years in multi-family residential projects.
• Excellent oral and written communication and interpersonal skills.
• Proven ability to oversee engagement and performance of third-party consultants.
• Knowledge of cost evaluations, scheduling, and construction progress/ payment practices.
• Experience with for-profit housing developers, nonprofit developers, or affordable housing development is a plus.

Responsibilities

• Evaluate development team qualifications relative to project complexity and coordinate with NEF personnel to address deficiencies.
• Produce written reports detailing construction attributes and potential risks.
• Oversee third-party due-diligence reviews and provide recommendations including value-engineering alternatives.
• Monitor construction progress for quality, cost, schedule compliance, and alignment with documents.
• Support General Partners and Investors; assist in developing solutions to meet objectives.
• Assist in building inspections/evaluations and recommend capital repairs for the portfolio.
• Provide training on construction management procedures to NEF staff and external partners.
• Document project information in NEF’s Syndication Management Toolset (SMT).
• Review equity disbursement requests and non-equity payments; travel as needed.

Skills

Construction management

Communication skills

MS Office

Project documentation

Tools

Syndication Management Toolset SMT

Job description

National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits (LIHTC), is seeking a Construction Risk Manager to conduct a wide range of new business initiatives. The LIHTC program is the most important resource available today for creating affordable housing in the United States. NEF uses its extensive experience, talent, and resources to create sustainable affordable housing.

Under the direction of the Managing Director of Construction Risk Management, the Construction Risk Manager works within the Asset Management department of NEF. As part of a professional team, they provide expertise and analysis for Real Estate Investment activities in affordable housing developments. For investments of moderate risk and complexity, the Construction Risk Manager performs underwriting functions for both new construction and existing developments, managing risk from construction through lease-up. Additionally, they handle the administration of documentation and funding requirements, offering consulting support with a high level of professional service and conduct to both existing and potential customers.

Essential Duties And Responsibilities

• Evaluate the qualification of the development team for proposed rehab, renovation, and new construction developments relative to the complexity of the project under consideration. Coordinate closely with Project Management, Originations, and other departments of any deficiencies and work with appropriate NEF personnel to correct same.
• Produce written reports detailing construction attributes as well as potential risks
• Conduct or oversee third party construction due-diligence reviews for proposed projects. Provide or review written reports regarding findings, make recommendations including value-engineering alternatives
• Provide comprehensive monitoring of the construction progress on multiple developments for quality, cost, schedule compliance, and adherence to project documents. Oversee third party reporting including documentation to facilitate quality, cost and schedule control.
• Provide support to General Partners and Investors and assist in the development of solutions to meet quality, cost, and schedule objectives.
• Assist Asset Management staff in conducting or reviewing building inspections/evaluations and make recommendations for capital repairs and replacement strategies for the existing portfolio.
• Provide training as needed to internal NEF staff as well as external partners regarding construction management procedures.
• Provide support to internal NEF staff regarding general construction practices and assist in devising solutions to address issues on projects.
• Maintain effective project communication among NEF staff and other external parties by documenting all appropriate project-related information in NEF’s Syndication Management Toolset (“SMT”) or other location as designated.
• Review and approve or comment on all equity disbursement requests and non-equity payments as submitted by internal staff and external parties.
• Ability to travel as needed.
• Other duties as assigned by the Managing Director Construction Risk Management

The Ideal Candidate

• Proven knowledge of construction methods and practices, particularly in the areas of new residential construction, residential rehab, and renovation.
• Knowledge of International Building Code Standards and accessibility requirements.
• Experience in contract and construction document reviews as well as the development and presentation of value engineering alternatives.
• Experience in and knowledge of construction progress and payment application practices.
• Knowledge of operations and maintenance requirements for building systems and cost evaluations.
• Experience and proven ability in overseeing the engagement, management and performance of third-party consultants.
• Demonstrable expertise in MS Office software; the use of electronic-based design and construction documentation; scheduling and project documentation and control software.
• Ability to develop and maintain effective working relationships with NEF and LISC staff, developers, investors, lenders, local and state government officials, and other professional staff.
• Excellent oral and written, communication, and interpersonal skills.
• Ten years of progressively responsible experience in construction management, architecture, or engineering with at least two years of experience in multi-family residential projects.
• Experience with for-profit housing developers, nonprofit community development corporations or the development of affordable housing a plus.
• General knowledge of environmental issues related to development of contaminated properties for residential use a plus.
• Comprehensive understanding of architectural and engineering industry practices.

We offer a competitive salary, along with a comprehensive benefits package.

NEF IS AN EQUAL OPPORTUNITY EMPLOYER