Senior Cost Consultant, Loan Monitoring
Reonomy
Compensation Range:
$95,000- $125,000
Compensation Disclaimer:
The salary range listed reflects the base pay for this role at Altus Group and is provided where required by local regulations. Actual offers may differ based on experience, market conditions, and other relevant factors. The range does not include additional compensation such as bonuses, equity, benefits, or other incentives.
Job Summary:
Altus Group is hiring a Senior Cost Consultant to join our Development Advisory team in Toronto. In this role, you’ll work with our loan monitoring team, reviewing project documentation, verifying contracts, tracking budgets and costs, and forecasting independent cost-to-complete estimates.
You’ll serve as the independent liaison between lenders and developers, monitoring projected revenues, development approvals, compliance, and construction contracts. Additionally, you’ll provide detailed monthly reporting until project completion and mortgage repayment.
Key Responsibilities:
Visit construction sites on a monthly basis to review the contractor and subcontractor progress claims
Deliver pre-development services to establish feasibility of the project and identify any risks
Provide review of development schedule, such as overall progress of the project and anticipated completion dates to the lender
Establish and track project budget, along with cost to date and cost to complete
Develop cash flow projections and summaries
Confirm borrower’s equity contributions
Prepare and submit preliminary report to the lender before any loan advances are issued to the borrower
Review construction contracts and other forms of commitments to minimize any risks of completion of the project
Provide approvals on insured deposit advances and keeping the insurance lender up to date and provide access to the funds
Process payment certification under construction contracts in compliance with the Provincial Lien Act
Negotiate change orders with contractors in accordance to the terms of the agreed contract
Perform reviews of all material financial project documentation implications
Key Qualifications:
Bachelor’s Degree in Construction Management, Quantity Surveying, Civil/Structural Engineering, Building Science or in a related field
4-6+ years of related experience in loan monitoring and project monitoring
Strong understanding of RICS Project Monitoring guidelines and standards
Superior communication and time management skills, along with the ability to manage multiple projects at any given time
Intermediate level of understanding of construction estimates, development schedules
In-depth knowledge of the construction industry - development, contracting & consultant services
Working knowledge of the Provincial lien act and CIQS standard method of measurement – elemental/trade
Strong understanding of standard contract conditions – CCDC
Working towards LEED, RICS/PQS certification is an asset
#LI-Hybrid
Unlock your Altus Experience!
If you’re looking to advance your career in in an industry that is transitioning for greatness, there’s no better place than Altus Group.
Our high trust, high performance culture prioritizes progressive programs that empower you to deliver your greatest performance while promoting collective success where everyone is recognized and connected.
We offer boundless opportunities in a rapidly growing global business: mentorship from the best and brightest in CRE, access to our Altus Intelligence Academy, and the chance to work with the best data sets, tools and technology in the industry.
What Altus Group offers:
Rewarding performance: competitive compensation, incentive and bonus plans, and a total rewards package prioritizing mental, physical, and financial well-being.
Growth and development: we invest in your professional learning. Our Altus Intelligence Academy offers over 150,000 hours of learning content.
Flexible work model: our Activity-Based Work model provides flexibility to align your work location to the needs of the work — use the office for collaboration and remote work for focused tasks.
Inclusivity & Accessibility
Altus Group is committed to fostering an inclusive work environment where all clients and employees feel welcomed, accepted and valued. We provide an atmosphere free from barriers to promote diversity, equity, and inclusion, and encourage equal opportunities for all employees. We’re seeking candidates with diverse experiences and provide accessible candidate experiences throughout the selection process. If you need accommodation, please contact us at [email protected] or +1 888 692 7487.
Use of Artificial Intelligence
AI tools may be used to support the initial stages of screening for this role; however, all assessments and final hiring decisions are reviewed and made by an Altus Group hiring professional.
Background Checks
Please note that as part of our commitment to maintaining a safe and secure workplace, Altus Group may conduct background checks on candidates who receive a conditional offer of employment. These checks may include, but are not limited to, verification of employment history, education credentials, criminal records, credit history (where relevant), and reference checks. The scope and nature of background checks may vary depending on the role, location, and applicable laws. All background checks will be conducted in compliance with local laws and regulations, and candidates will be informed of any checks required as part of the recruitment process.
Other Notes / Application Process
We appreciate all applicants; however, only those selected to move forward will be contacted. Thank you for your interest in Altus Group.