Associate Director, Construction Risk

The Associate Director, Construction Risk plays a key role in protecting Nuveen Green Capital's investments by overseeing Construction Risk company wide. This role will provide construction risk management to three core departments: Credit and Portfolio Management; Asset Management; and Originations Teams. A successful candidate will have experience in the construction of medium to large scale commercial real estate development and have comfort managing highly complex commercial real estate construction loans. This role offers a unique opportunity to work in a passionate, quickly growing, powerfully-resourced, and sustainability-focused commercial real estate lending company.

Key Responsibilities and Duties

Manage the Construction Review for NGC’s Originations Team during the underwriting of construction risk on their pipeline deals.

Participate in ad-hoc reviews of portfolio construction assets.

Validate the capital stack and review the Sources and Uses for completeness.

Act as first line review, identify risks of the General Contractor, Construction Contract and Construction Schedule/Timelines. Provide analysis to show strengths and weaknesses of the construction project including detailed review of the required equity amount, project contingencies and reserves. Provide background review of the General Contractor, projects in process and assessment of the construction contract identifying any gaps.

Own NGC’s relationships with third party inspectors and engineers, overseeing deliverables, cost, timeline, and engagements. Maintain the approved list of third-party inspectors and engineers who meet NGC’s minimum standard of work. Engage third party inspectors for new and mid construction projects, track for timeliness of deliverables.

Share structural solutions with the Originations team to reduce construction risk on otherwise transactable deals. Identify transaction risks and track exceptions to NGC’s construction underwriting criteria.

Manage Pre-Close Credit Reviews - Provide review on construction risk due diligence through loan closing to ensure successful projects and tolerable risk levels that fall within NGC’s portfolio performance expectations.

Setup tracking of NGC Sources and Uses for the proposed construction project budget.

Provide a review of proposed projects for cost and completion risk. Validate commencement and completion dates in the construction schedule,

Support NGC’s Asset Management and Disbursements team, when requested, as they monitor NGC’s portfolio of construction loans.

Educational Requirements

University (Degree) Preferred

Work Experience

3+ Years Required; 5+ Years Preferred

Career Level
7IC

Required Qualifications:

3+ years of construction risk experience

Preferred Qualifications:

5+ years of commercial real estate (CRE) lending experience

Related Skills

Accountability, Adaptability, Clean Energy Acumen, Collaboration, Commercial Mindset, Consultative Communication, Continuous Improvement Mindset, Executive Presence, Prioritizes Effectively, Stakeholder Engagement

Anticipated Posting End Date:

2024-12-02

Base Pay Range: $118,000/yr. - $155,000/yr.

Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location.  In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans). 

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Company Overview

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information about the firm please visit our website at www.Nuveen.com

Benefits and Total Rewards

The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary.

Equal Opportunity

We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.

Read more about the Equal Opportunity Law here.

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