Construction Loan Administrator

Northern Trust • Chicago, IL

3d • Hybrid

About The Position

Northern Trust is a global leader in wealth management, asset servicing, asset management, and banking services. The Construction Loan Administrator will manage construction loans (both commercial and residential), working with real estate lending officers to underwrite all construction risk issues. This role involves counseling clients on emerging issues, bank products/services, legal/regulatory changes, and general market trends, and translating their impact on client activities and banking services. The administrator will stay informed of current developments and market trends to better identify and service clients. They will also assist in structuring and negotiating complex loan agreements, analyzing and quantifying risk associated with the real estate development team (sponsor, architect, contractor, project market issues, and repayment risk), and defining/overseeing fund release requirements at each construction stage. Coordination of inspections to ensure repayment and evaluation of client creditworthiness are also key responsibilities. This includes preparing written documents and presentations for loan committees and credit policy to maintain a high-quality loan portfolio, as well as preparing proposals and making sales presentations. Regular travel to client locations is required.

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