Construction Risk Specialist

Career Opportunity – Construction Risk Specialist with Cincinnati Development Fund - Cincinnati, OH (Hybrid)

Are you enthusiastic about managing risk and ensuring construction projects run smoothly and within budget? Do you have a knack for analyzing financial documents and real estate projects? Are you ready to make a significant impact in the real estate and community development sectors?

Salary Range: $65k to $80k

About Cincinnati Development Fund:

Cincinnati Development Fund is a 501(c)(3) nonprofit lending institution that fills a gap not covered by traditional lenders. CDF provides funding for real estate development in under-served markets in the Greater Cincinnati area as well as facilities and equipment funding for nonprofit organizations in the region. CDF’s mission is to provide innovative real estate financing for projects that strengthen low-income neighborhoods and improve lives. Its vision is to be at the forefront of redevelopment plans in Greater Cincinnati, helping low-income communities preserve their historic buildings and create vibrant, inclusive neighborhoods.

A certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE), CDF is an equal opportunity employer and an equal opportunity provider.

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.

Required Qualifications:

• Bachelor’s degree in business, real estate, finance, or related field or equivalent professional experience.
• Customer service focus.
• Excellent written and verbal communication skills.
• Ability to work independently and handle multiple priorities at once.
• Team player – committed to working in a collaborative environment.
• Proficiency in Microsoft Office programs, including Word, Excel, Outlook, PowerPoint.
• Superior organization and time management skills with attention to detail.
• Knowledge and experience of best practices in construction industry including the construction draw process.
• Working knowledge of financial and real estate development terms.
• Ability to analyze financial statements, tax returns, and other financial documents.

Preferred Qualifications:

• 3-5 years of experience in commercial real estate financing, banking, or similar field.
• Experience in historic preservation/renovation.

Compensation:

Cincinnati Development Fund offers competitive pay along with comprehensive benefits options including medical, dental and vision insurance; 403(b) retirement plan (with company contribution); company-paid life insurance; long-term disability insurance; tuition reimbursement, and generous paid time off.

Apply online at https://grnh.se/1088cd763us!