Construction Risk Analyst

Position: Construction Risk Analyst

Who We Are:

Renovo Financial is a rapidly growing Chicago-based private lender serving real estate investors who acquire and renovate single and multi-family residential properties. We pride ourselves on supporting clients by providing unparalleled service, from the loan application through the payoff. Renovo’s reliability and “win-win” solutions-oriented approach is just one reason why our repeat and referral rates far exceed the industry average. Renovo was honored to be named one of Crain’s 50 fastest-growing Chicago companies and the 2022 + 2023 Top Workplace winner, as recognized by The Chicago Tribune, and 2023 Best Workplace by Inc. Magazine.

Position Summary:

The Construction Risk Analyst will play a crucial role in Renovo’s Asset Management Team. As a Construction Risk Analyst, you will play a pivotal role in assessing and mitigating potential risks associated with our construction projects. This position requires a keen analytical mind, attention to detail, and a strong understanding of the construction industry. You will collaborate with the asset management, credit & origination teams to identify, evaluate, and develop strategies to manage risks throughout the life of the project. The right candidate will have experience in the construction or real estate investment industry with strong knowledge of residential building processes & cost estimates. This position is eligible for overtime. In this role, you will report directly to SVP – Real Estate & Construction Management at Renovo Financial.

Responsibilities:

1) Budget & Feasibility Analysis

o Review and analyze construction budgets to ensure accuracy and identify potential cost-related risks.

o Evaluate feasibility reports to assess the viability and potential risks associated with proposed construction projects.

o Review all relevant construction loan documentation including but not limited to scopes of work, plans, specifications & entitlements.

o Review sponsor experience and synthesize relevant commentary with the credit team on the sponsors ability to execute.

2) Risk Identification & Assessment

o Conduct comprehensive risk assessments for construction projects, considering factors such as project scope, budget, schedule, and external influences.

o Identify potential risks related to design changes, regulatory compliance, environmental factors, market conditions, construction budgets, and feasibility reports.

o Maintain detailed records of identified risks and prepare regular reports to asset management and leadership teams highlighting risk factors against our portfolio makeup.

3) Quality Control & Draw Inspection Review

o Review & approve inspection records of all draw requests across the construction loan portfolio on a daily basis.

o Work with all Renovo asset managers to ensure proper notations, photos & exceptions are clearly documented within the draw record.

4) Reporting & Pipeline Management

o Understand unique market differentiators including entitlements & cost variables.

o Track market fundamentals & changing construction policies/regulations.

o Attend all pipeline meetings to understand and get ahead of project reviews that will be needed as well as provide feedback to the team on repeat and new sponsors.

o Attend all individual market asset management meetings to maintain an understanding of the existing Renovo portfolio & specific sponsor level progress on active projects.

Ideal Candidate:

The ideal candidate for this role will have:

· Minimum 5+ years of experience in construction estimating, construction management, asset management, architecture, engineering, real estate investment or similar field.

· Strong residential building & construction knowledge.

· Strong understanding of construction costs across different geographies.

· Ability to quickly prioritize tasks across multiple work streams for a large client base

· Exhibits a high-level of attention to detail

· Strong verbal and written communication skills

Behavioral Characteristics:

· Ethical Conduct: Uphold the highest standards of ethical conduct and professionalism.

· Self-Motivated: You take on tasks without waiting to be told what to do

· Positive Attitude: You approach situations with a proactive and positive attitude

· Adaptable: Ability to collaborate effectively with cross-functional teams and work in a fast-paced, dynamic environment.

· Team Player: You believe that to be successful you need to leverage and trust your team. You lead by example.

· Openminded: Always seeks to find and develop creative solutions.

Renovo Financial is an equal opportunity employer. Renovo Financial does not discriminate in any employment actions (including hiring decisions) with regard to race, color, religion, national origin, citizenship status, ancestry, age, sex (including sexual harassment), sexual orientation, gender identity and expression, marital status, disability, military status or unfavorable discharge from military service or any other characteristic protected by law.

Renovo offers full-time employees a 401k plan with employer matching, paid time off, observance of company paid holidays, medical, dental, vision benefits for employees and their dependents, voluntary benefit offerings (life insurance and short-term disability), pre-tax FSA, commuter and dependent care benefits, maternity/paternity, hybrid work schedule, and more.

Job Type: Full-time

Pay: From $60,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible schedule
• Health insurance
• Paid time off
• Vision insurance

Schedule:

• Monday to Friday

Education:

• Bachelor's (Preferred)

Experience:

• construction/real estate: 2 years (Preferred)

Work Location: In person