Senior Construction Asset Manager

Description

The Senior Construction Asset Manager is responsible for the ongoing credit monitoring and relationship management of an assigned portfolio of active construction deals across the country. This is achieved primarily through review and approval of monthly construction draw requests and credit analysis of routine consent requests from the Borrower. The Senior Construction Asset Manager is an individual contributor role with no management responsibilities, however, will be looked to as an expert and the senior-most individual contributor. 

Requirements

• Confirming and monitoring the overall sources and uses in the development budget and analyzing the availability of the flow of funds during construction and understanding the nuances and restrictions on the various funding sources as well as specific requirements for funding the project costs.
• Review and approval of monthly construction loan advances in adherence with funding priority, funding restrictions in accordance with the loan documents and state specific lien law requirements.
• Review and approve budget reallocations from hard cost contingency and interest reserve and monitor usage to ensure construction costs can be 
• Independently and proactively monitoring loans for covenant compliance and adherence to terms and conditions under the loan documents. 
• Preparing and presenting credit recommendations for material credit actions that require credit committee approval such as loan extensions, modifications, restructures and borrower assumptions.
• Proactively identifying and escalating issues that warrant additional investigation and internal discussion such as scheduling delays, cost overruns, accelerated contingency usage, interest reserve shortfalls and recommending classification changes.
• Conducting periodic risk rating analysis on the sponsor strength and overall project performance for portfolio.
• Coach and mentor the Construction Loan Analysts and Senior Construction Loan Analysts.

Expected Experience, Skills and Education:

• Requires an experienced understanding of construction lending and the organization.
• Requires an experienced understanding of Bank construction loan monitoring and administration. 
• Requires understanding and the ability to use Excel to maintain spreadsheets, utilize existing macros, and manage data.
• Requires an organized, detail-oriented approach to work balanced with a personable demeanor effective at delivering high-quality client experiences.
• Minimum of 5-8 years of professional work experience preferred with an emphasis on construction lending and asset management.
• Requires successfully demonstrated problem-solving skills with a self-start mentality that responds well to work pressure and urgent deadlines.
• Requires excellent written and verbal communication skills with an ability to actively listen and respond appropriately.
• Experience in project management or team leadership preferred.
• Requires basic understanding and professional experience in using Word and Outlook for professional correspondence and record-keeping.
• Bachelor’s/University degree.

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.