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- Chicago, IL
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Construction Lending Risk Manager - Chicago
The Federal Savings Bank • Chicago, IL
Posted 1 day ago
The Federal Savings Bank (???TFSB???) is a veteran-owned national bank with a focus on residential lending. Recently named as one of Inc. 5000???s fastest growing private companies in America for two consecutive years, TFSB is actively searching for an experienced mortgage industry professional to join our team as the Construction Lending Manager. The Construction Lending Manager will be responsible for building, servicing, and monitoring the operations of TFSB???s national construction lending department. The Manager will focus on providing white glove service to TFSB customers and mortgage bankers by utilizing best-in-class monitoring procedures during the construction period of the loans.
Responsibilities and Duties:
- Responsible for staffing and overseeing construction lending and servicing department
- Evaluate and implement construction lending policies and procedures
- Collaborate with underwriting to develop & update underwriting guidelines for the different construction products available nationwide
- Analyze construction project documents such as construction budgets, plans & specs, builder qualifications, construction contracts, engineer reports, appraisals, etc.
- Work with loan documentation team to review loan documents for accuracy and ensure they are compliant with all regulations, laws and lending practices.
- Review, audit, and process draw payments, including review and approval of all site inspections and reports.
- Approve all change orders and determine if they are paid by customer or included in the loan.
- Identify and clear up any budget discrepancies between borrower & builder early in the construction process.
- Evaluate title, appraisals, and settlement statements before approval
- Maintain full credit file (both electronic and physical) to ensure that documentation is retained in accordance with bank guidelines. This includes review and receipt of post-closing documents
- Serve as a risk manager/workout manager for select loans.
- Prepare summary reports for senior management and Board of Directors on the status of construction business for the bank.
- Collaborate with the Bank???s training team to develop a training program and curriculum for new servicing staff and for loan officers across the country.
- Operate within budget for department
- Assist with special projects that may arise
- Bachelor???s degree in Finance, Business, or Accounting preferred
- 7 + years??? experience in real estate lending
- 3 + years managing a multi-functional team
- Thorough knowledge of construction lending, loan documentation & structure, credit and appropriate banking laws and regulations including TRID
- Strong credit underwriting skills & experience in credit structuring
- Elevated understanding of real estate title issues
- Advanced financial analysis skills
- Excellent verbal and written communication skills
- Strategic thinker with strong analytical and problem-solving skills and attention to detail
- Strong background in customer relationship management
- Highly proficient with Microsoft Office Suite, specifically Excel, Word, and Outlook.
What We Offer:
- Vacation plus sick days
- Health, Dental, and Vision insurance plans available
- 401k and Roth IRA options available
- Job security for those who consistently meet and exceed expectations
- A fast-paced environment
- Employee Appreciation Events (Pizza days, empanada days, Halloween costume contest just to name a few!
- A culture where team work truly does make the dream work!