Analyst, Loan Monitoring

Job description

Newmark is hiring a Cost Analyst to join our Project & Cost Management team in Toronto. In this role, you’ll join our Loan Monitoring team and support the team by reviewing project documentation, verifying contracts, and tracking budgets, costs, cash flow projections and commitments. You’ll also assist in acting as an independent liaison between lenders and developers, monitoring projected revenues, development approvals, compliance, and construction contracts. You will contribute to the monthly project reporting until completion and loan repayment.

Responsibilities

- Visit construction sites on a monthly basis to review the contractor and subcontractor progress claims and prepare site progress reports

- Assist in the delivery of pre-development services to establish feasibility of the project and identify any risks

- Provide support in review of development schedule, such as overall progress of the project and anticipated completion dates to the lender

- Review of Development Agreements/ Approvals, Agreements of Purchase and Sale and Leases etc.

- Collaborate with senior staff to establish and track project budget, along with cost to date and cost to complete

- Facilitate the preparation and submission of preliminary report to the lender before any loan advances are issued to the borrower

- Facilitate the preparation and submission of monthly reports for monthly advances

- Assist in preparing monthly payment certificates under construction contracts in compliance with the Provincial Lien Act

- Review construction contracts and other forms of commitments to minimize any risks of completion of the project

- Support in review of all material financial documentation including accounting records, bank statements etc.

- Perform research as required to ensure adequate information to support decision making

Qualifications

- Bachelor’s Degree in Quantity Surveying, Construction/Project Management, Civil/Structural Engineering/Architecture, Building Science or in a field related to real estate development and construction

- 0-2 years of related experience

- Solid understanding of construction methodology, schedules, and cash flow projections.

- Knowledge of the construction industry, including development, contracting, and consulting sectors.

- Familiarity with provincial Lien Acts and standard forms of construction contracts.

- Ability to prepare, review, and summarize technical reports effectively.

- Knowledge of site safety issues – basics of fall protection

- Valid driver’s license

- Proficient in Microsoft 365, Teams/SharePoint, and adaptable to learning industry-specific software such as Argus Estate Master, CostX, Onscreen Takeoff, AutoCAD, Timberline, and Excel.