Description

The VP of IRE Construction Servicing is responsible for overseeing and managing the ongoing servicing of construction loans in Merchants Bank of Indiana’s balance sheet portfolio from construction loan closing through repayment or conversion. This position will be responsible for overseeing the Construction Loan Analysts that are processing the monthly construction draws as well as monitoring the overall health and performance of the IRE Construction Portfolio through reporting, data analysis and adherence to regulatory compliance guidelines.

A successful VP-IRE Construction Servicing will possess the ability to lead and manage a team with a strong understanding of construction lending and focus on delivering a top-notch client experience through professional, effective communication and accurate, efficient loan administration processes.

After one year as our VP-IRE Construction Servicing, you will know you were successful if you…

• Manage, develop, coach and mentor the Construction Loan Analysts on the IRE Construction Team through routine team meetings and one-on-one meetings. 
• Develop relationships with key clients at construction loan closing or as issues arise.
• Review routine reporting (Delinquency, Suspense, Other Collateral, Freddie 5150, Construction Dashboard) that monitors the ongoing operations of the construction portfolio and follow up with the team on any issues that need to be addressed.
• Proactively identify and escalate deals with construction issues that warrant additional investigation and internal discussion such as scheduling delays, cost overruns, accelerated contingency usage, and interest reserve shortfalls, and recommend classification changes to MCC Management.
• Monitor the processes and key risk controls that are outlined in the Sarbanes-Oxley Narrative that governs Construction Lending and work closely with the SVP-IRE Construction to recommend any revisions to the SOX Narrative, as needed.
• Assist team with quarterly portfolio loan grading. 
• Review and approval of monthly construction loan advances in adherence with funding priority, funding restrictions in accordance with the loan documents, and state-specific lien law requirements.
• Collaborate with other departments within the company to strategize ways in which the IRE Construction Team can be better partners.
• Provide additional training to the team, as needed.
• Develop job aids and provide additional training on new processes and process enhancements that are rolled out to the team.

Requirements

What we are looking for…

• Minimum 10 years of asset management experience is strongly preferred.
• Previous experience in a management position is required.
• A fundamental understanding of loan portfolio management functions is required.
• Multifamily, affordable, or healthcare credit experience is strongly preferred.
• Requires problem-solving skills as well as the initiative to troubleshoot and find resolutions.
• Must demonstrate the ability to identify, interpret, and apply applicable guidelines in managing assigned processes.
• Must possess strong organization and communication skills focused on accuracy and attention to detail.
• Must demonstrate the ability to successfully manage the demands of multiple deadlines.
• Requires understanding and the ability to use Excel to maintain spreadsheets, utilize existing macros, and manage data.
• A bachelor’s degree in finance or a related field from an accredited institution is required.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multi-family housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.