Construction Risk Manager

Description:

The Westpac Group’s Construction Risk Managers (MCR) provide specialist industry expertise to support the Group’s various national Property Finance businesses, both in terms of development and investment funding opportunities.

MCRs have a thorough understanding of the construction and property development businesses within Australia and this knowledge is utilised to support the Property Finance businesses to identify and manage the risks involved within these industry sectors. MCRs also assist the relationship teams with new business acquisition via their wide industry networks.

Reporting to the National Manager of Construction Risk, the role will be responsible for undertaking the MCR duties within the relevant states and incorporates cost management services.

Key responsibilities include:

Development Deal Origination:

Key MCR involvement in proposed development projects includes:
 

• Conducting a detailed site inspection
• Undertaking detailed development feasibility analyses
• Managing various relevant consultants, including the appointment, instruction and briefing of these consultants. MCRs then review and provide critical analysis of the consultant reports
• Providing an analysis of the Builders and Developers ability to deliver the project
• Post this review, an MCR will prepare a synopsis which identifies all risks and mitigants which then forms part of the credit submission for the proposed transaction
• MCR will review and provide analysis of the proposed building contract and any side deeds
   

Transaction Management:

Once the transaction is drawn, the MCR will constantly monitor the project and advise the relationship and credit teams of any perceived project delivery risks or changes to the project’s viability. This monitoring process will include, but will not be limited, to:
 

• Regular site inspections, including attending Project Control Group (PCG) meetings,
• Reviewing and approving drawdown requests and any requests for the release of contingencies, and
• Conducting a review of all development facilities that are no longer tracking on-schedule. The MCR will provide proactive technical advice to assist the Bank to resolve the issue in the most appropriate manner.