Within a bank, even a small bank, some loan officers will have specific areas of focus, depending on their specialties and what relationships have been cultivated in the community. Construction loans are one of those areas where there may be a single individual, or several individuals who process only these kinds of loans. The role of the construction loan manager is to oversee construction loan officers, be the final word on loan applications, and ensure that policies and regulations are being strictly followed when it comes to the granting of loans.
Constructions loan managers must set monthly or quarterly goals for their officers, and then implement plans to achieve those goals. These plans may include marketing and community outreach programs, as well as networking with local businesses and community leaders to coordinate construction efforts. One of the main tasks of a manager is finding and following up with new leads in the community. Construction loans may be requested by individuals, or by organizations. It is the role of the manager to officiate in all loan applications, determining which will be profitable for the bank and which are not feasible.
Construction loan managers may often have to play the role of mediator within in his own team of construction loan officers. Any team of dynamic, ambitious individuals is bound to see interpersonal disputes, and it is the manager’s job to ensure that these disputes do not harm the atmosphere of the office.
Managers may also have to report to other divisions of the bank, helping to compile not only data on their own divisions, but also reports which encompass the entire bank’s loan granting and auditing parties. Managers may have to coordinate with compliance offers to ensure all regulations and bank procedures are being followed.
Most banks and financial institutions require a bachelor’s degree, either in business, management, or finance. Some familiarity with the field of construction is a plus, as it will help managers determine which proposals will be beneficial for both the banks and the individual requesting the loan. Managerial experience is a must, and the ability to think critically and analyze a large amount of data is a plus.