Development Risk Manager

**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 demonstrate readiness and ability to initiate action.+ With some guidance/supervision, work independently as well as collaboratively within a positive team environment.+ Compile data from multiple sources, review, and accurately input data into various spreadsheets or database.+ With some guidance/supervision, identify required tasks, develop timelines and execute.+ Project a positive, professional image both internal and with external business contacts.+ Convey information clearly and effectively through both formal and informal documents.+ Identify relationships, draw logical conclusions and interpret results for use in decision making.+ Utilize engineering/architecture background to evaluate proposed change orders, and verify whether design and cost support the investment objectives of the fund.+ Assist with preconstruction investment analyses, including evaluation of 3rd party plan and cost reviews, physical needs assessments, and fielding design inquiries from investors and developers.+ Periodically visit projects under construction, utilizing engineering and/or construction background to evaluate construction risk on site.Education/Previous Experience+ Bachelor's degree in Architecture, Engineering, Construction Management, or related field and a minimum of five (5) years construction administration, architecture, engineering experience.+ Certification as either a Professional Engineer or Registered Architect is desired~or~+ Any equivalent combination of experience, education, and/or training approved by Human Resources.**Licenses/Certifications**+ AIA or PE strongly preferred