Construction Risk Specialist

Position Objective:The Construction Risk Specialist (CRS) supervises Cincinnati Development Fund’s portfolio of construction loans, working to ensure projects proceed on schedule, within the construction budget, and according to approved plans and specifications. The CRS ensures draw requests are accurate and processed in a timely manner. Secondarily, the CRS will perform credit risk reviews and underwriting of real estate projects. They will incorporate CDF’s lending policies and procedures to structure loans consistent with CDF’s risk profile as well as with Loan Committee and Board expectations. Primary Responsibilities:Working with CDF Loan Officers, developers, and general contractors to verify the project’s construction budget sufficiency based on industry and project knowledge. Establish a construction disbursement process for each deal. Initiate and manage pre-construction meetings.Work closely with CDF’s Finance staff to process draw requests in a timely manner.Monitor construction projects through monthly construction draw meetings at the site, site inspections or occasional site visits/inspections, as required by the level of complexity of the project.Report the status of CDF construction loans on a regular basis and immediately notify the Credit Risk Manager of any problems that threaten loan quality or create funding problems.Work with the Credit Risk Manager and borrower to resolve issues.Update and maintain a Construction Cost Database to monitor and measure CDF projects’ historical performance to predict accurate cost estimations.Maintain a Construction Management report that summarizes progress of each construction project. Present the report to the Lending department monthly.Additional Responsibilities:Work with the Portfolio Manager to ensure that all conditions for conversion from construction to permanent loan status are met; ensure that the responsibilities for each converted loan are properly transferred to the appropriate CDF staff.Gather, verify, and analyze documents in loan files, such as credit reports, loan applications, title policies, appraisals, and financial statements.Work with the Credit Risk Manager to perform credit analysis and determine repayment probability using risk management matrices.Sign off on underwriting loan conditions according to underwriting guidelines.