Senior Construction Services Manager

The Momentus Capital branded family of organizations - which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies - is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening racial wealth gap by offering a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training, and business advising programs, and technology services that advance locally-led solutions. Our suite of products and services, experience, and scope will foster equitable job creation, wealth building, and economic mobility.

Position Summary

The Senior Construction Services Manager (SCSM) is responsible for managing construction loan closings of an assigned portfolio in accordance with the company’s policies and guidelines. Responsibilities include collecting, reviewing, approving, and distributing all necessary construction due diligence documentation.

The SCSM is a primary point of contact for sponsors, borrowers, and outside lenders and works in alignment with corporate strategy, policy and guidelines. The SCSM will have the knowledge to adequately answer construction related questions regarding new or in-process construction, acquisition & rehabilitation, structured transactions, and in regards to commercial and multifamily properties developed with New Markets Tax Credits (NMTCs), Low Income Housing Tax Credits (LIHTC), and Balance Sheet loans.

The SCSM position reports to the Director, Construction Management, and collaborates with internal and external partners including Community Development Lending Originations, Closing, Loan Servicing, Lending, Legal, Credit, Portfolio and Treasury teams. The SCSM role may include direct reports.

Essential Responsibilities

Construction Management- 50-75%

● Must be able to independently manage the request, receipt, review and approval of construction due diligence in accordance with credit/loan programs, construction service guidelines and industry best practices.

● Demonstrated knowledge and management of the requirements of various types of full Construction Closing Due Diligence Checklists.

● Ability to collaborate with internal and external business partners and borrowers regarding construction loan closings, identifying gaps in budgets and communicating construction risk and resolution in a timely manner.

● Coordinate post-closing internal and external communications/meetings (i.e./ Draw Reference Guide, Draw Overview Process, kick off calls with borrowers and other lenders).

● Ability to use web-based programs from underwriting through closing, including use of internal programs to create S&U Budgets.

Administrative Management- 25-50%

● Serve as the primary construction subject matter expert (SME) for loan originations and credit revisions, and act as a liaison between underwriting and credit.

● Provide expert guidance and knowledge share on construction related topics, such as Insurance, Letters of Credit, P&P Bonds, AIA Owner/Contractor Agreements, and related ad hoc functions.

● Facilitate internal (external) specific or ad-hoc training across teams, which can include duties not specifically enumerated but within the reasonable scope that may arise and be required during ordinary course of business.

● Must be able to read and interpret financial loan documentation.

● Collaborate with internal and external customers during loan approval process, closing, as well as transactions that are currently in the loan portfolio.

Requirements

● Bachelor’s degree in Business, Construction Management or related field preferred. Educational level can be considered on a holistic basis considering both education and work experience.

● Minimum of 7-10 years of verifiable work experience in construction management (pre and post-closing), construction documentation, construction loan closings and real estate administration.

● Experience in New Market Tax Credit (NMTC), Low income Housing Tax Credit (LIHTC) and other financing structures for commercial and multifamily construction, ground-up new construction, acquisition & rehabilitation tenant improvement, critical repairs and modular construction such as multifamily housing, food banks, health care facilities, charter schools, and other mission aligned development.

● Advanced knowledge of all facets of construction lending and ability to field construction questions.

● Knowledge of insurance coverage and requirements related to construction lending.

● Ability to communicate and collaborate effectively with all parties verbally and create professional and succinct written communications.

● Experience in Google Suite, Microsoft Office (MS Word, Excel, PPT), Teams (Zoom) and shared file servers.

● Experience with or ability to learn McCracken, Power BI, Salesforce, and Strategy Software or related software in a timely manner.

● Ability to work independently, under tight time frames, and including strong budgeting and financial acumen, analytical and problem-solving skills.

● Experience translating construction requirements into practical deliverables.

● Experience using independent judgment and sound decision making in a diverse and complex organizational environment.

● Desire to participate in a social impact-oriented environment and commitment to diversity, equity, inclusion and racial economic justice.

● Represent the company and its mission in a professional manner.

● Position can be remote or hybrid (based on location).

● Ability to travel 10% or less required.

Benefits

The salary range for this position is $89,961 - $120,098 and is eligible for an annual incentive.

This role is eligible to work remotely.

• All employees must be legally authorized to work in the United States.  The Company will not sponsor applicants for work visas.

• EEO: Momentus Capital is an equal opportunity employer committed to a diverse work force; and, as such, is fully committed to providing employment for qualified individuals, free from discrimination on the basis of race, color, religion, sex, age, sexual orientation, gender identity, national origin, disability, marital status, pregnancy, childbirth or related medical conditions, or any other protected characteristic established by applicable law.