Construction Risk Manager Affordable Housing / Real Estate Investment A national affordable housing investment organization is seeking a Construction Risk Manager to join its growing Construction Risk Management team. This is an individual contributor role responsible for evaluating and managing construction-related risk across a portfolio of affordable housing investments. The Construction Risk Manager will support projects from pre-closing through active construction and completion, partnering closely with Asset Management, Project Management, developers, sponsors, architects, contractors, and third-party consultants.
Key Responsibilities:
Review construction drawings, specifications, contracts, budgets, schedules, and other project documentation to identify potential construction risks.
Evaluate projects during underwriting and pre-closing, assessing constructability, scope, cost, schedule, development-team capabilities, and overall execution risk.
Review third-party due diligence, including environmental, property condition, feasibility, and cost assessments.
Monitor approximately 25–30 active construction projects through completion.
Review construction progress reports, payment applications, budgets, schedules, change orders, and supporting documentation.
Identify potential cost overruns, delays, quality concerns, scope issues, accessibility concerns, and other construction risks.
Work directly with developers, sponsors, contractors, consultants, and internal teams to develop practical solutions and mitigation strategies.
Review change orders and scope modifications for cost, necessity, schedule impact, and potential scope creep.
Participate in regular reporting with Asset Management and communicate project risks, recommendations, and status updates.
Support construction closeout, including inspections, punch lists, final payments, warranties, and transition into ongoing operations.
Manage multiple projects and competing deadlines while maintaining detailed project documentation.
The formal JD emphasizes that this is not simply a reporting role—the Construction Risk Manager is expected to identify deficiencies and recommend risk-mitigation, value-engineering, and corrective solutions.
Qualifications:
Bachelor's degree in Architecture, Civil Engineering, Construction Management, Construction, or a related field preferred.
Strong architecture, construction management, engineering, or project management background.
Multifamily residential construction experience strongly preferred.
Experience reviewing architectural drawings, specifications, construction contracts, and AIA documentation.
Understanding of construction methods, building systems, codes, accessibility requirements, and construction documentation.
Experience monitoring active construction, including site visits, progress reporting, payment applications, budgets, schedules, and change orders.
Ability to identify construction risks and recommend practical solutions.
Strong communication skills with the ability to explain technical construction issues to non-technical stakeholders.
Excellent organization and time management skills with the ability to manage a large portfolio of concurrent projects.
Affordable housing and/or LIHTC experience is highly valued but not required for candidates with strong transferable construction experience.
