Principal Associate, Construction Loan Administration - Community Finance

Discover Financial
Virginia, Chicago
Workplace: OnsiteFull timeUSD 98,900 - 124,300 annuallyFunction: Construction, Civil & Site EngineeringExperience: 3+ yearsEducation: high_schoolSkills: ["Critical thinking","Credit analysis","Problem solving","Risk mitigation","Stakeholder coordination"]

Manage a medium- to large-sized portfolio of construction loans in the Community Finance Construction Loan Administration team, with primary responsibility for monthly due diligence on borrower draw requisitions. You will coordinate with internal and external partners to ensure loan agreement-compliant documentation for funding, oversee bank-controlled accounts and loan lifecycle activities (draws through payoffs/conversions), and drive training and process improvement.

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Discover Financial
Discover Financial
1 month ago

Principal Associate, Construction Loan Administration - Community Finance

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Job Summary

Manage a medium- to large-sized portfolio of construction loans in the Community Finance Construction Loan Administration team, with primary responsibility for monthly due diligence on borrower draw requisitions. You will coordinate with internal and external partners to ensure loan agreement-compliant documentation for funding, oversee bank-controlled accounts and loan lifecycle activities (draws through payoffs/conversions), and drive training and process improvement.
Location: Virginia, Chicago
Workplace: Onsite
Employment Type: Full time
Job Function: Construction, Civil & Site Engineering
Seniority: Mid level

Key Responsibilities

  • •Manage end-to-end administration of construction loans for a portfolio of standard/complex transactions, primarily multifamily LIHTC deals.
  • •Perform monthly due diligence on borrowers’ draw requisitions, verifying documentation and balancing sources/uses for funding.
  • •Act as primary point of contact for borrowers and coordinate with internal/external partners (e.g., project managers, closers, inspectors, government agencies).
  • •Oversee daily operations including bank-controlled accounts (BCAs), budget/change orders/equity contributions, general ledger transactions, interest payments, and insurance compliance.
  • •Lead onboarding and team training and drive strategic process improvement initiatives across the loan lifecycle (including maturities, extensions, payoffs, and permanent conversions).

Pay and Benefits

Salary: USD 98,900 - 124,300 annually

Key Requirements

  • •High school diploma, GED, or equivalent certification.
  • •At least 3 years of experience in construction loan management.
  • •At least 3 years of experience in accounting and loan operations, including direct preparation, review, or processing of loan documents.
  • •Bachelor’s degree or military experience.
  • •5+ years of experience in construction loan management and experience with construction lending, LIHTC investment or syndication (preferred).
Experience:3+ yearsConstruction lendingLIHTCLoan operationsAccounting
Education:High School
Skills:Critical thinkingCredit analysisProblem solvingRisk mitigationStakeholder coordination

Eligibility

Work Authorization:Authorization required. Sponsorship not provided.

Company Brief

Discover Financial
Provides consumer banking products, credit cards, personal loans, and payment services through the Discover brand. It operates a major U.S. financial network and serves individuals and merchants with lending and digital payment solutions.
Industry: Retail Banking
Company Size: Enterprise (1,001+ employees)
Revenue: USD 10M to 25M
Growth: Public Company
Valuation: Public Company (Market Cap in USD)
Funding: IPO / Publicly Listed
Headquarters: Riverwoods, United States
Founded: 1985
WebsiteLinkedIn