Development Risk Manager, Affordable Housing Investments
Job Summary:
Under limited supervision, mitigate institutional investors construction risk and provide informed updates on multiple low-income housing projects, from preconstruction to completion. The role requires knowledge in reviewing real estate documentation, including plans, AIA contracts, partnership agreements, and certificates of occupancy/building permits. Responsibilities include coordinating third-party inspection teams, managing the monthly draw and inspection process, and delivering reports to institutional clients. The position also involves reviewing draw requests and capital contributions. The role requires complex decision-making, timely processing, and teamwork.
Essential Duties and Responsibilities:
Review real estate documentation for consistency with company requirements and investment criteria.
Assess completeness and best practices in construction drawings.
Review and evaluate construction-related agreements (design, construction, equity/debt documents).
Engage third-party inspectors, review pre-construction reports, and coordinate with development, design, and construction teams.
Ensure plans comply with tax credit standards.
Analyze direct and indirect cost budgets.
Conduct site visits to monitor construction and review payment requisitions.
Review third-party inspectors reports, resolve construction issues as needed.
Monitor schedule and budget progress for multiple properties under construction.
Maintain high-level client communication.
Review significant change orders for pricing, schedule, funding, and marketability impacts.
Perform additional duties as assigned.
Additional Responsibilities:
Consultant Directory Management: Update and maintain the master consultant directory monthly, evaluating performance and making removal recommendations.
Consultant Reporting Management: Ensure timely and accurate WIP reports, resolving discrepancies and evaluating project status.
Project and RaPID Management: Update project data in RaPID based on findings, including construction status, contingency, change orders, and potential risks.
Investor Management: Prepare investor reports and ensure timely updates for all projects, identifying those requiring mitigation or watchlist placement.
General Duties:
Familiarize with the tax credit acquisition and underwriting process.
Review weekly pipeline reports and prepare construction memos for review.
Gain familiarity with the RaPID database for managing project updates, including status, commencement dates, and completion forecasts.
Qualifications:
Knowledge of:
Entitlement/permitting process, construction delivery methods, and agreements.
Construction best practices, building codes, and various building types.
Multi-family housing construction schedules and budgets.
Evaluating cost and schedule impacts of change orders.
Environmental site assessment requirements for residential construction.
Real estate and construction industry principles.
Banking and finance industry operations.
Skills in:
Reading construction drawings and specifications.
Understanding real estate and LIHTC contracts and documentation.
Proficient in Excel and financial projections.
Using office equipment and software to produce reports and correspondence.
Ability to:
Communicate effectively, both orally and in writing.
Organize and manage multiple tasks with changing priorities in a fast-paced environment.
Provide accurate, timely work product.
Proactively initiate actions and work independently.
Compile, review, and input data into spreadsheets or databases.
Identify tasks, develop timelines, and execute them.
Project a professional image to internal and external contacts.
Interpret data to make decisions.
Evaluate proposed change orders using engineering/architecture knowledge.
Manage investor reporting for 100-200 projects under construction.
Assist with preconstruction analyses, evaluating 3rd party reviews and design inquiries.
Visit construction sites to assess construction risk.
Educational/Previous Experience Requirements:
Bachelors degree in Architecture, Engineering, Construction Management, or related field with a minimum of five (5) years of relevant experience.
Certification as a Professional Engineer or Registered Architect is preferred.
Licenses/Certifications:
PE certification strongly preferred.
Apply Now
Under limited supervision, mitigate institutional investors construction risk and provide informed updates on multiple low-income housing projects, from preconstruction to completion. The role requires knowledge in reviewing real estate documentation, including plans, AIA contracts, partnership agreements, and certificates of occupancy/building permits. Responsibilities include coordinating third-party inspection teams, managing the monthly draw and inspection process, and delivering reports to institutional clients. The position also involves reviewing draw requests and capital contributions. The role requires complex decision-making, timely processing, and teamwork.
Essential Duties and Responsibilities:
Review real estate documentation for consistency with company requirements and investment criteria.
Assess completeness and best practices in construction drawings.
Review and evaluate construction-related agreements (design, construction, equity/debt documents).
Engage third-party inspectors, review pre-construction reports, and coordinate with development, design, and construction teams.
Ensure plans comply with tax credit standards.
Analyze direct and indirect cost budgets.
Conduct site visits to monitor construction and review payment requisitions.
Review third-party inspectors reports, resolve construction issues as needed.
Monitor schedule and budget progress for multiple properties under construction.
Maintain high-level client communication.
Review significant change orders for pricing, schedule, funding, and marketability impacts.
Perform additional duties as assigned.
Additional Responsibilities:
Consultant Directory Management: Update and maintain the master consultant directory monthly, evaluating performance and making removal recommendations.
Consultant Reporting Management: Ensure timely and accurate WIP reports, resolving discrepancies and evaluating project status.
Project and RaPID Management: Update project data in RaPID based on findings, including construction status, contingency, change orders, and potential risks.
Investor Management: Prepare investor reports and ensure timely updates for all projects, identifying those requiring mitigation or watchlist placement.
General Duties:
Familiarize with the tax credit acquisition and underwriting process.
Review weekly pipeline reports and prepare construction memos for review.
Gain familiarity with the RaPID database for managing project updates, including status, commencement dates, and completion forecasts.
Qualifications:
Knowledge of:
Entitlement/permitting process, construction delivery methods, and agreements.
Construction best practices, building codes, and various building types.
Multi-family housing construction schedules and budgets.
Evaluating cost and schedule impacts of change orders.
Environmental site assessment requirements for residential construction.
Real estate and construction industry principles.
Banking and finance industry operations.
Skills in:
Reading construction drawings and specifications.
Understanding real estate and LIHTC contracts and documentation.
Proficient in Excel and financial projections.
Using office equipment and software to produce reports and correspondence.
Ability to:
Communicate effectively, both orally and in writing.
Organize and manage multiple tasks with changing priorities in a fast-paced environment.
Provide accurate, timely work product.
Proactively initiate actions and work independently.
Compile, review, and input data into spreadsheets or databases.
Identify tasks, develop timelines, and execute them.
Project a professional image to internal and external contacts.
Interpret data to make decisions.
Evaluate proposed change orders using engineering/architecture knowledge.
Manage investor reporting for 100-200 projects under construction.
Assist with preconstruction analyses, evaluating 3rd party reviews and design inquiries.
Visit construction sites to assess construction risk.
Educational/Previous Experience Requirements:
Bachelors degree in Architecture, Engineering, Construction Management, or related field with a minimum of five (5) years of relevant experience.
Certification as a Professional Engineer or Registered Architect is preferred.
Licenses/Certifications:
PE certification strongly preferred.
Apply Now