Construction Loan Administrator

Northern Trust • Chicago, IL

5d • $74,200 - $126,200 • Hybrid

About The Position

Northern Trust is a global leader in innovative wealth management, asset servicing, asset management and banking services. Since 1889, they have aligned their efforts with their three guiding Principles That Endure: Service, Expertise, and Integrity. With more than 135 years of financial experience and over 24,000 partners, they serve the world’s most sophisticated clients using leading technology and exceptional service.

Requirements

• In depth knowledge of finance and relevant business segment specific issues usually acquired through prior commercial real estate experience is required to manage client relationships.
• Skills in negotiation, leadership, and sales are necessary to service the client relationship.
• Knowledge of real estate industry and construction is required to authorize release of funds.
• Knowledge of applicable industry laws and regulations, usually acquired through prior lending experience or through completion of the lending program, is required to structure loans.
• Analytical skills are required to review credit and make recommendations.
• Proficient in Excel; familiarity with banking, loan, and client management systems.
• 5+ years in commercial or residential real estate construction, draw administration, client servicing, and lending experience, including experience in reviewing legal documentation necessary for subject loans.
• Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

Responsibilities

• Administers construction loans (both commercial and residential), working with real estate lending officers to underwrite all construction risk issues.
• Counsels client on emerging issues, bank products/services, legal/regulatory changes, and general environment, translating the impact on client's activities and banking services.
• Keeps abreast of current developments and market trends to better identify and service clients.
• Assists in structuring and negotiating complex loan agreements according to guidelines established by senior bank and business unit management.
• Assists in analyzing and quantifying risk associated with the real estate development team, including sponsor, architect and contractor, project market issues, and repayment risk, including holdbacks and restrictions.
• Defines and oversees the requirements for the release of funds at each stage in the construction process.
• Coordinates inspections to ensure repayment.
• Assists in monitoring and evaluating the credit worthiness of clients and prospects which includes a written document and presentation to loan committee and credit policy to ensure a high quality loan portfolio, (i.e., KNOW YOUR CLIENT).
• Assists in preparing proposals to address client needs and making sales presentations.
• Travels regularly to client locations.

Benefits

• retirement benefits (401k and pension)
• health and welfare benefits (medical, dental, vision, spending accounts and disability)
• paid time off
• parental and caregiver leave
• life & accident insurance
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed