Construction Loan Monitoring Draw Manager

Wintrust•Rosemont, IL

9d•Onsite

About The Position

Wintrust is seeking a critical thinker with the ability to adapt to emerging risks and regulatory changes for the Construction Loan Monitoring Draw Manager role. This position offers the opportunity to gain experience and further your career by joining a growing organization. The Construction Loan Monitoring Draw Manager will primarily be responsible for the monitoring and risk management of commercial construction loans and draw requests. The primary function of this role is to review post-closing construction draw requests, as well as facilitating pre-close document collection and third-party cost/documentation reviews. The Construction Loan Monitoring Draw Manager will be responsible for verifying a balanced budget throughout construction; the Bank’s title position is maintained throughout construction; ensure the project is completed within the anticipated/expected timeframe; and the project adheres to the construction loan agreement and credit policy conditions.

Requirements

3 years plus Commercial construction lending or underwriting with a financial institution; or title company escrow officer; or commercial real estate (CRE) developer; or accounting/bookkeeping with a general contractor.
Must be highly proficient with MS Excel.
Understanding of basic construction processes and risks.
Strong analytical and problem-solving skills.
Ability to communicate and collaborate with several different stakeholders, including Borrowers/Clients, Lending and Credit Teams, contractors, inspectors, title companies, etc.
Self-motivated to meet deadlines.

Nice To Haves

Direct experience in commercial construction loan underwriting / funding / disbursement experience is a plus.
Experience with construction funding in multiple states is a plus.

Responsibilities

Primary responsibility for reviewing and recommending construction loan draw requests.
Review post-closing construction loan draw requests for balanced budgets, input draw requests into Wintrust’s proprietary system, review budget reallocations for appropriateness, and verify sufficient funding sources for project completion throughout the life of the project/loan.
Responsibility for monitoring loan proceeds and equity contributions during construction funding and communicating when additional funds may be needed.
Leadership and clear communication in working with Borrowers, Developers, Contractors, Lenders, and Credit Officers to provide solutions and resolve issues that arise during the construction funding process.
Working with inspectors and title companies throughout the construction funding process.
Responsible for collection and review of pre-construction documentation.
Responsible for ordering and reviewing third-party Cost and Documentation Reviews.
Provide support to other Draw Managers and colleagues on a variety of tasks related to the construction loan monitoring function. These include assisting others with draw requests, credit policy and procedures, updating pipeline reports, verifying insurance coverage remaining in place, and general related tasks as requested.
Organized retention systems for all supplemental documentation and information related to all assigned construction loans/projects.