Construction Risk Associate

The Role.

The Construction Risk Associate plays a pivotal role in Ascent’s success with high-value residential construction projects (SFR & MFR), utilizing their expertise to evaluate construction loan applications with precision and care. By analyzing financial data, project plans, and conducting detailed risk assessments, they ensure sound decisions that meet company standards and borrower needs. Their insights foster trust and reliability in construction lending operations, while their ability to collaborate with diverse stakeholders and deep knowledge of construction projects drives Ascent’s operational excellence.

The Work.

• Assess project feasibility, risk factors, and the borrowers’ creditworthiness, applying Company underwriting guidelines to recommend an appropriate level of loan approval.
• Prepare comprehensive underwriting documentation, including risk assessments, loan conditions, and recommendations for loan approval or denial.
• Conduct site visits as necessary to assess project progress and ensure compliance with loan conditions.
• Contribute to decision-making for projects ranging in value from $3 million to $20 million, ensuring they meet stringent financial, regulatory, and investment criteria.
• Provide strategic insights that drive the company's growth and enhance its competitiveness in the market, ensuring cost-effectiveness and operational excellence. Stay informed about market trends, construction costs, and regulatory changes affecting the construction and banking industries.
• Translate complex project data into actionable financial insights to guide investment decisions and prioritize projects effectively.
• Consult with Loan Officers to package appropriate solutions to meet the needs of the borrower while ensuring profitable outcomes for Ascent.
• Work closely with relationship managers, borrowers, regulatory bodies, and internal and external partners to gather necessary information and address any concerns or questions.
• Monitor the performance of the construction loan portfolio, identifying and addressing any emerging risks or issues.
• Provide regular reports and updates to senior management on the status of construction loans and the overall health of the construction loan portfolio.
• Develop sophisticated financial models and conduct detailed risk analysis to support the evaluation, planning, and expansion of large-scale projects.
• Review portfolio reporting mechanisms to improve decision-making and accountability in asset performance.
• Advocate and support the integration of innovative digital solutions that optimize business processes and workflows, system functionality, and user experience.
• Demonstrate high ethical standards and professionalism when handling significant financial transactions and sensitive information.
• Ability to visit job sites to perform construction progress inspections, as needed.
• Ability to visit prospective sponsors for on-site meetings and meet with sponsors in person, as needed.

Your Knowledge & Experience.

• BA/BS in construction management, finance, business, real estate, or a related field, or equivalent practical experience in construction management, financial analysis and project financing
• 3+ years of underwriting or risk assessment experience in construction lending within the banking industry
• Advanced knowledge of financial modeling techniques, and tools like Excel and financial software platforms
• Experience communicating and collaborating with internal and external stakeholders
• Proficiency in relevant software such as construction management software (e.g., TrustPoint, Procore), and general office software (e.g., Microsoft Office Suite).
• Strong analytical and decision-making abilities
• Experience successfully multi-tasking and prioritizing work
• Experience consistently meeting deadlines in a fast-paced environment

The Pay.

• Salary Range: $85,000 - $100,000 per year
• Bonus: 20% per year

The Work Environment.

• This role is on-site from Ascent's Boston office, Monday - Thursday (Fridays are work-from-home).