CLM Draw Manager (Real Estate)
Wintrust is a financial holding company with approximately $62 billion in assets whose common stock is traded on the NASDAQ Global Select Market. Guided by its “Different Approach, Better Results” philosophy, Wintrust offers the sophisticated resources of a large bank while providing a community banking experience to each customer. Wintrust operates more than 200 retail banking locations through 16 community bank subsidiaries in the greater Chicago, southern Wisconsin, west Michigan, northwest Indiana, and southwest Florida market areas. In addition, Wintrust operates various non-bank business units, providing residential mortgage origination, wealth management, commercial and life insurance premium financing, short-term accounts receivable financing/outsourced administrative services to the temporary staffing services industry, and qualified intermediary services for tax-deferred exchanges. Our unique business model is a competitive strength and value driver, powered by our talented colleagues who put our customers first and achieve better results for our clients.
Why Join Us?
An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 9 years) and Employee Recommended award by the Globe & Mail (past 6 years).
Competitive pay and discretionary or incentive bonus eligible
Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few.
Family-friendly work hours.
With 175+ community bank locations, we offer opportunities to grow and develop in your career.
Promote from within culture.
Why join this team?
We are seeking a critical thinker with the ability to adapt to emerging risks and regulatory changes.
Gain experience and further your career by joining a growing organization.
What you'll do:
The CLM Draw Manager will primarily be responsible for the monitoring and risk management of commercial construction loans and draw requests. The primary function of this role is to review post-closing construction draw requests, as well as facilitating pre-close document collection and third-party cost/documentation reviews. The Draw Manager will be responsible for verifying a balanced budget throughout construction; the Bank's title position is maintained throughout construction; ensure the project is completed within the anticipated/expected timeframe; and the project adheres to the construction loan agreement and credit policy conditions.
Primary responsibility for reviewing and recommending construction loan draw requests. The Commercial Draw Manager will review post-closing construction loan draw requests for balanced budgets, input draw requests into Wintrust's proprietary system, review budget reallocations for appropriateness, and verify sufficient funding sources for project completion throughout the life of the project/loan.
Responsibility for monitoring loan proceeds and equity contributions during construction funding and communicating when additional funds may be needed.
Leadership in working with Borrowers, Developers, Contractors, Lenders, and Credit Officers to provide solutions and resolve issues that arise during the construction funding process.
Working with inspectors and title companies throughout the construction funding process.
Responsible for collection and review of pre-construction documentation.
Responsible for ordering and reviewing third-party Cost and Documentation Reviews.
Provide support to other Draw Managers and colleagues on a variety of tasks related to the construction loan monitoring function. These include assisting others with draw requests, credit policy and procedures, updating pipeline reports, verifying insurance coverages remain in place, and general related tasks as requested.
Continuously working to improve department efficiencies and reporting capabilities.
Will assist in the training and development of our internal Lending and Credit partners.
Clear communications with Lending Teams, Credit Teams, Borrowers/Clients, and Contractors.
Organized retention systems for all supplemental documentation and information related to all assigned construction loans/projects.
Qualifications:
Bachelor's degree or equivalent
3-5 years of relevant construction-related experience
Commercial construction lending or underwriting with a financial institution; or title company escrow officer; or commercial real estate (CRE) developer; or accounting/bookkeeping with a general contractor.
Direct experience in commercial construction loan underwriting / funding / disbursement experience is a plus.
Must be highly proficient with MS Excel.
Understanding of basic construction processes and risks.
Experience with construction funding in multiple states is a plus.
Strong analytical and problem-solving skills.
Ability to communicate and collaborate with several different stakeholders, including Borrowers/Clients, Lending and Credit Teams, contractors, inspectors, title companies, etc.
Self-motivated to meet deadlines.
Benefits:
Medical Insurance • Dental • Vision • Life insurance • Accidental death and dismemberment • Short-term and long-term Disability Insurance • Parental Leave • Employee Assistance Program (EAP) • Traditional and Roth 401(k) with company match • Flexible Spending Account (FSA) • Employee Stock Purchase Plan at 5% discount • Critical Illness Insurance • Accident Insurance • Transportation and Commuting Benefits • Banking Benefits • Pet Insurance
Compensation:
The estimated annual salary range for this role is $71,000-$85,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills, and experience.
#LI-Hybrid
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To be Chicago's Bank® and Wisconsin's Bank®, we need to reflect that diversity both in all the communities we serve, the people we employ, the organizations we work with, and our banking and lending practices. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sex, sexual orientation, gender identity and expressions, genetic information, marital status, age, disability, or status as a covered veteran or any other characteristic protected by law.
