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Construction Risk Specialist

Company Description

 

Career Opportunity – Construction Risk Specialist with Cincinnati Development Fund - Cincinnati, OH (Hybrid)

 

Are you enthusiastic about managing risk and ensuring construction projects run smoothly and within budget? Do you have a knack for analyzing financial documents and real estate projects? Are you ready to make a significant impact in the real estate and community development sectors?

 

Salary Range: $65k to $80k

 

     

    About Cincinnati Development Fund:

    Cincinnati Development Fund is a 501(c)(3) nonprofit lending institution that fills a gap not covered by traditional lenders. CDF provides funding for real estate development in under-served markets in the Greater Cincinnati area as well as facilities and equipment funding for nonprofit organizations in the region. CDF’s mission is to provide innovative real estate financing for projects that strengthen low-income neighborhoods and improve lives. Its vision is to be at the forefront of redevelopment plans in Greater Cincinnati, helping low-income communities preserve their historic buildings and create vibrant, inclusive neighborhoods.

    A certified Community Development Financial Institution (CDFI) and Community Development Entity (CDE), CDF is an equal opportunity employer and an equal opportunity provider.

     

    Job Description

    Position Objective:

    The Construction Risk Specialist (CRS) supervises Cincinnati Development Fund’s portfolio of construction loans, working to ensure projects proceed on schedule, within the construction budget, and according to approved plans and specifications. The CRS ensures draw requests are accurate and processed in a timely manner. Secondarily, the CRS will perform credit risk reviews and underwriting of real estate projects. They will incorporate CDF’s lending policies and procedures to structure loans consistent with CDF’s risk profile as well as with Loan Committee and Board expectations.

     Primary Responsibilities:

    • Working with CDF Loan Officers, developers, and general contractors to verify the project’s construction budget sufficiency based on industry and project knowledge. Establish a construction disbursement process for each deal. Initiate and manage pre-construction meetings.
    • Work closely with CDF’s Finance staff to process draw requests in a timely manner.
    • Monitor construction projects through monthly construction draw meetings at the site, site inspections or occasional site visits/inspections, as required by the level of complexity of the project.
    • Report the status of CDF construction loans on a regular basis and immediately notify the Credit Risk Manager of any problems that threaten loan quality or create funding problems.
    • Work with the Credit Risk Manager and borrower to resolve issues.
    • Update and maintain a Construction Cost Database to monitor and measure CDF projects’ historical performance to predict accurate cost estimations.
    • Maintain a Construction Management report that summarizes progress of each construction project. Present the report to the Lending department monthly.

    Additional Responsibilities:

    • Work with the Portfolio Manager to ensure that all conditions for conversion from construction to permanent loan status are met; ensure that the responsibilities for each converted loan are properly transferred to the appropriate CDF staff.
    • Gather, verify, and analyze documents in loan files, such as credit reports, loan applications, title policies, appraisals, and financial statements.
    • Work with the Credit Risk Manager to perform credit analysis and determine repayment probability using risk management matrices.
    • Sign off on underwriting loan conditions according to underwriting guidelines.

    Qualifications

    Required Qualifications:

    • Bachelor’s degree in business, real estate, finance, or related field or equivalent professional experience.
    • Customer service focus.
    • Excellent written and verbal communication skills.
    • Ability to work independently and handle multiple priorities at once.
    • Team player – committed to working in a collaborative environment.
    • Proficiency in Microsoft Office programs, including Word, Excel, Outlook, PowerPoint.
    • Superior organization and time management skills with attention to detail.
    • Knowledge and experience of best practices in construction industry including the construction draw process.
    • Working knowledge of financial and real estate development terms.
    • Ability to analyze financial statements, tax returns, and other financial documents.

     

      Preferred Qualifications:

      • 3-5 years of experience in commercial real estate financing, banking, or similar field.
      • Experience in historic preservation/renovation.

      Additional Information

      Compensation:

      Cincinnati Development Fund offers competitive pay along with comprehensive benefits options including medical, dental and vision insurance; 403(b) retirement plan (with company contribution); company-paid life insurance; long-term disability insurance; tuition reimbursement, and generous paid time off.

      Apply online at https://grnh.se/1088cd763us!

      Average salary estimate

      $72500 / YEARLY (est.)
      min
      max
      $65000K
      $80000K

      If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

      What You Should Know About Construction Risk Specialist, strategic HR, inc.

      Are you ready to propel your career forward as a Construction Risk Specialist at Cincinnati Development Fund? Located in the heart of Cincinnati, OH, this hybrid position is perfect for someone with a passion for managing construction risks and ensuring that projects stay on track and within budget. At Cincinnati Development Fund, a leading nonprofit lending institution, you will work diligently to manage a portfolio of construction loans, collaborating with a team of dedicated loan officers and developers. Your role will include overseeing the accuracy of draw requests and performing credit risk reviews for real estate projects. You'll have the opportunity to engage in pre-construction meetings, monitor projects through monthly site inspections, and provide critical status reports to stakeholders. Your analytical skills will shine through as you update and maintain a Construction Cost Database, ensuring we keep a pulse on project performance. If you have a Bachelor’s degree in business, real estate, or finance, along with strong organizational abilities and a collaborative spirit, we want to hear from you! With a salary range of $65k to $80k, this role promises a rewarding approach to enhancing communities throughout the Greater Cincinnati area. Join us in our mission to foster vibrant, inclusive neighborhoods and make a tangible difference in the lives of residents.

      Frequently Asked Questions (FAQs) for Construction Risk Specialist Role at strategic HR, inc.
      What responsibilities does a Construction Risk Specialist at Cincinnati Development Fund have?

      As a Construction Risk Specialist at Cincinnati Development Fund, your primary responsibilities will include managing a portfolio of construction loans, ensuring projects adhere to approved plans and budgets, and supervising draw requests to maintain financial accuracy. You'll also work closely with loan officers, developers, and general contractors to monitor project progress, conduct site inspections, and report any issues that may impede loan quality.

      Join Rise to see the full answer
      What qualifications are needed to apply for the Construction Risk Specialist position at Cincinnati Development Fund?

      To apply for the Construction Risk Specialist position at Cincinnati Development Fund, candidates should possess a Bachelor’s degree in business, real estate, finance, or a related field. Additionally, having 3-5 years of experience in commercial real estate financing or banking is preferred. Strong communication skills, proficiency in Microsoft Office, and the ability to analyze financial documents will also be essential qualifications for this role.

      Join Rise to see the full answer
      What is the salary range for a Construction Risk Specialist at Cincinnati Development Fund?

      The salary range for a Construction Risk Specialist at Cincinnati Development Fund is between $65k to $80k. This competitive compensation reflects the importance of the role in supervising construction loans and contributing to the organization’s mission of community development.

      Join Rise to see the full answer
      How does Cincinnati Development Fund support team collaboration for the Construction Risk Specialist?

      Cincinnati Development Fund emphasizes team collaboration in the role of a Construction Risk Specialist by encouraging cooperative efforts with loan officers, finance staff, and credit risk managers. The working environment is designed to support a collaborative spirit, where effective communication and teamwork are vital in ensuring the successful management of construction projects.

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      What benefits are offered to Construction Risk Specialists at Cincinnati Development Fund?

      Cincinnati Development Fund offers a comprehensive range of benefits for Construction Risk Specialists, including competitive medical, dental, and vision insurance options, a 403(b) retirement plan with a company contribution, company-paid life insurance, long-term disability insurance, tuition reimbursement, and generous paid time off. These benefits make it an excellent place to grow your career while enjoying a supportive work environment.

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      Common Interview Questions for Construction Risk Specialist
      What experience do you have with managing construction loans?

      When answering this question, emphasize your direct experiences with construction loans, detailing the types of projects you've managed and the specific responsibilities you held. Be sure to discuss any processes you implemented for monitoring budgets, timelines, or approvals, which align well with the expectations at Cincinnati Development Fund.

      Join Rise to see the full answer
      How do you ensure accuracy in financial documentation during the construction process?

      Speak about your thorough approach to verifying financial documentation, including how you systematize reviewing draw requests, employing a checklist for documentation. Highlight specific examples where your attention to detail helped prevent financial discrepancies on past projects, as this is crucial for a Construction Risk Specialist.

      Join Rise to see the full answer
      Can you explain the construction draw process you are familiar with?

      Describe your understanding of the construction draw process, focusing on how funds are released at various stages of a project in relation to completed work. It would be beneficial to reference any tools or methodologies you have used to track disbursements and ensure compliance with lending guidelines.

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      How would you handle a project that is falling behind its schedule?

      Discuss your problem-solving approach, which might include conducting site visits, collaborating with contractors to understand the challenges, and modifying timelines or budgets where necessary. Mention any successful experiences where you've turned around a project from delays, showcasing your proactive project management skills.

      Join Rise to see the full answer
      What methods do you use to assess project risk?

      Explain your analytical methods for assessing risk, such as utilizing historical data, financial statements, or risk management matrices. Share how you apply these methods in real-world scenarios, particularly in relation to construction projects you've overseen.

      Join Rise to see the full answer
      Describe a time when you worked in a collaborative team environment.

      Share a specific example highlighting your role in a team-oriented project, focusing on your contributions and how you facilitated communication and collaboration among team members. Discuss the project outcomes and any lessons learned that you can apply when working at Cincinnati Development Fund.

      Join Rise to see the full answer
      Why do you want to work at Cincinnati Development Fund as a Construction Risk Specialist?

      This is an opportunity to showcase your alignment with the organization’s mission. Discuss your passion for community development, mention any past experiences with similar organizations, and express your enthusiasm for leveraging your skills to enhance low-income neighborhoods in Cincinnati.

      Join Rise to see the full answer
      How do you prioritize your tasks while managing multiple projects?

      Describe your strategies for prioritization, such as utilizing project management tools or establishing a task hierarchy based on deadlines and project complexity. Provide an example of how you've successfully juggled multiple responsibilities without compromising quality.

      Join Rise to see the full answer
      What role does communication play in your work as a Construction Risk Specialist?

      Emphasize the significance of clear and effective communication in your previous positions. Illustrate how you have kept all stakeholders informed throughout the construction process, and how maintaining open lines of communication has led to successful project completions.

      Join Rise to see the full answer
      How do you stay updated with industry trends in construction and real estate?

      Talk about your commitment to professional development through attending industry seminars, reading relevant publications, participating in forums, or networking with other professionals. This shows your proactive attitude toward continuous learning, which is crucial for a role at Cincinnati Development Fund.

      Join Rise to see the full answer

      That's why we develop client-focused partnerships and innovative solutions designed to meet our clients' unique needs. Our job is to lighten your load and to help you shine! Our Values

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      Full-time, hybrid
      DATE POSTED
      March 11, 2025

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