Senior Construction Loan Portfolio Manager

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GENERAL FUNCTION:

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. More specifically, they are involved in the construction risk analysis and administration of complex 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. Identify and provide guidance for any material deviations to construction loan policy/procedures and inconsistencies to loan approval that need to be addressed prior to closing.

Lead role in the review and funding of complex commercial construction loans. Proactively identifies potential risks for the project. On a regular basis, interacts with borrower, general contractor, inspector and title company to ensure alignment of communication. 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. Provide guidance and training 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:

• Expert knowledge of the Commercial Real Estate Policies and Procedures.
• Accountable for 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.
• 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.
• 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 LOB and Credit Risk partners.
• 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. Should documentation be deemed insufficient, recommend to LOB and or Borrower alternate solutions to ensure proper evidence is obtained.
• 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 LOB and Credit Risk partners 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 commercial construction loan disbursements for all types of commercial construction projects originated by all LOBs.
• Strong organizational and time management skills; ability to prioritize multiple projects and activities related to the review and approval of commercial real estate construction loan closings and advances. Be a resource and provide guidance to the CLA team members and business partners.
• On agented loans, coordinate with internal partners on syndicated or participated loans to establish a portal to share draw documentation timely with participant banks. 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, identify issues, raise issues to LOB and Credit Risk Partners, and provide recommendations for resolution.
• Seasoned expert in identifying early warnings 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.
• Mentors and develops more junior team members and partners

SUPERVISORY RESPONSIBILITIES:

May have supervisory responsibility. As a senior leader, will provide CLAs & CLPMs timely, candid, and constructive performance feedback; developing employees to their fullest potential and provide challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Degree in Business or Accounting preferred. 5+ years of credit analysis and/or loan review experience, preferably commercial construction in the banking industry. Or 5+ years of business related experience.
• 10+ years of closing and administering complex commercial construction loans.
• Proven ability to identify construction risks
• Clear and articulate oral and written communication skills.
• Requires a solid understanding of internal operation functions and commercial real estate lending.
• Skilled in problem solving and customer service.
• A self starter with the ability to work in a deadline driven environment and multi task with excellent attention to detail.
• Must be strongly proficient in basic software applications such as Microsoft Word and Excel. Proficiency with the banks internal applications is a plus.
• Ability to execute with minimal to no 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.

At Fifth Third Bank, we understand the importance of rewarding our employees for their hard work and dedication, therefore, our Total Rewards offering includes a differentiated compensation package and comprehensive benefits.

Benefits:

Our benefits programs are designed to support the health, happiness, and financial well-being of our employees and their families. Your benefits will include access to comprehensive medical, dental, and vision coverage, a 401(k) plan and employee stock purchase plan that both offer a generous employer match, flexible paid time off, comprehensive leave programs, and unique benefits to support your overall mental and physical wellness. For additional details, please contact your recruiter.

Compensation:

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the US. 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.

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.