Development Risk Manager - Construction Oversight

** Position Summary*
* Under limited supervision, the Development Risk Manager ("DRM") works within RJAHI's Asset Management group.  The DRM will be a member of a professional team that provides expertise and analysis for affordable housing investment and asset management activities.  For investments representing moderate risk and complexity, performs underwriting functions for to-be-built or existing developments, and manages development risk through construction lease-up. Also, performs administration of the documentation and funding requirements, and provides consulting support through a high level of professional service and conduct to existing and potential customers.

** Specific Responsibilities*
* ** Underwriting (with moderate supervision)*
* + Reviews the project design, entitlements, technical merit, building code, compliance, usability, and marketability of the project.

+ Performs initial project underwriting site visit with development and production teams.

+ Evaluates the qualifications of the development team.

+ Contributes to the understanding and analysis of real estate market conditions and long term    competitiveness of the project.

+ Reviews development, design, and construction contracts for appropriate structure and terms.

+ Analyzes the project budget, completion schedule, and delivery methods for material risk.

+ Recommends and assists in review and negotiations of the partnership agreements.

+ Analyzes overall risk and recommends appropriate level of oversight outsourcing.

+ Determines insurance requirements in accordance with insurance guidelines and that the appropriate insurance certificates have been received before closing.

** Development Risk Management (with moderate supervision)*
* + Monitors and reports the progress of the development through construction and lease-up.

+ Manages oversight and third-party consultants to mitigate and communicate the impact of cost overruns, change orders, and schedule revisions.

+ Assists and advises developers and sponsors in negotiations and resolution of issues when problems develop.

+ Monitor conformance with plans and specifications and perform periodic on-site inspections if material problems arise.

*
* C.
Administration (with minimal supervision)*
* + Insures proper file documentation and compliance with funding requirements.

+ Communicates the status of document compliance and discrepancies with the original underwriting assumptions.

+ Evaluates equity fundings by reviewing and approving project draw requests and project accounting.

** Knowledge Base*
* + Thorough understanding of architectural and engineering industry practices.

+ Thorough understanding development industry practices and techniques.

+ Familiarity with Real Estate and Construction Contract Law.

+ Understanding of partnership and other investment contract documents.

+ Understanding of Title, Construction, Ownership arid other relevant insurance policies.

+ Thorough understanding of bank policies, procedures, investment, and loan structures.

+ Familiarity with Environmental Risk Analysis.

** Educational Background and Professional Expertise*
* + Professional degree in Architecture, Architectural Engineering, Civil/Structural Engineering or Construction Management.

+ Minimum 5 years of experience in Architecture, Engineering, Construction Management or Real Estate Development.

+ Some experience of course work in Real Estate Finance.

+ Some experience or course work in Development Cost Accounting and Risk Management.

+ Some experience or course work in Environmental Risk Assessment.

** Qualifications*
* ** Knowledge, Skills, and Abilities*
* ** Knowledge Of*
* +  Entitlement/permitting process and construction delivery methods and agreements.

+  Construction best practices, general building codes, and various building types

+  Process of preparing and monitoring a multi-family housing construction schedule.

+  Familiarity with the preparing and monitoring of a detailed construction budget.

+  Evaluating cost and schedule impact of change orders.

+  Familiarity with environmental site assessment requirements of residential construction.

+  Fundamental concepts, principles, and practices of the real estate and construction industry.

+  General principles of banking and finance industry operations.

** Skill In*
* +  Reading construction drawings and specifications.

+  Reading and understanding contracts and other real estate transaction documentation.

+  Knowledgeable in the use of Excel and real estate financial projections.

+  Operating standard office equipment and using required software application to produce correspondence, reports, electronic communication, and spreadsheets.

** Ability To*
* +  Communicate effectively both oral and written.

+  With minimal guidance/supervision, organize, manage and track multiple detailed tasks and assignments with frequently changing priorities in a fast-paced work environment to meet required results.

+  Provide accurate and high quality work product in a timely manner.

+  Proactively…