Senior Cost Consultant Loan Monitoring

Steve Thomas
Toronto, Ontario
Negotiable DOE
Job Posted

A Senior Cost Consultant job vacancy to undertake Senior Project Loan Monitoring job duties with a leading cost consultancy in Toronto, Canada.

Project Details

A Senior Project Loan Monitor / Senior Cost Consultant is needed to join a leading cost consultancy in Toronto, Canada.

The Senior Project Loan Monitor and Senior Cost Consultancy role will be to perform independent construction and development cost reviews for Construction Lenders during live construction.

They will also provide other quantity surveying services and support including project proformas and cost planning advice regarding the financial feasibility of a potential construction project using the developer's revenue projections.

Responsibilities and Duties

The Senior Project Loan Monitor / Senior Cost Consultant job role will mainly include:

  • Working as a Loan Monitor to prepare regular project cost reports for Lenders, including cost incurred and cash flow forecasts with review of costs-in-place, costs-to-complete, holdbacks and sources and uses of funds.
  • Assessing the project cost budget and construction time schedule as prepared by the developer and giving opinion on cost and schedule adequacy based on a review of the project documentation
  • Reviewing and providing advice on all cost items and trade contractor contracts/commitments to support the developer’s project budget.
  • Reviewing project finance documentation and conditions and assisting the developer to understand and comply with the Lender’s project requirements during construction.
  • Benchmarking construction costs against similar projects.
  • Checking developing designs against the project budget in the context of budget preparation.
  • Preparing cash flow projection for project costs during construction.
  • Reporting on change orders, contemplated changes and cost of potential variations.
  • Providing opinion on the adequacy of the contingency reserves.
  • Performing site inspections and taking photos to evidence progress and potential issues.
  • Assessing valuation of construction work on site by reviewing trade contractor invoices provided.
  • Reviewing loan advance submissions with supporting hard construction and soft development invoices and calculating project costs incurred.
  • Providing independent review and analysis of construction activities and commenting on how this compares to the latest construction schedule provided.
  • Developing and maintaining positive relationships with lenders and developers.
  • Reviewing the project documents to assess the reasonableness of the developer’s budget and giving independent opinion on the overall project budget. This could include review of geotechnical reports, environment reports, bonding, insurance etc. Through this review, you will identify any associated risk factors, including monitoring these additional risks as the project continues.
  • Preparing project proformas and providing cost planning advice regarding the financial feasibility of a potential construction project using the developer’s revenue projections.
  • Checking designs meet legal and quality standards by relying on consultant reports.
  • Undertaking risk management and value management exercises.
  • Advising on procurement strategy.
  • Communicating with developer’s team on potential cost overruns and schedule delays and attempt to pre-agree the budget or schedule adjustments before reporting to the lender.
  • Interacting with consultants and trade contractors in a professional manner.
  • Supervising junior Cost Consultants in carrying out their duties.

Desired Skills and Experience

Suitable candidates must have a Loan Monitoring, cost management or Quantity Surveying background and be able to demonstrate experience of working at a Senior Cost Consultant level having undertaken Loan Monitoring work.

Experience of working within the Canadian, Ontario and Toronto construction and condominium market is much preferred.

Qualifications/Educational Requirements

Loan Monitor Cost Consultants that have a relevant construction degree such as quantity surveying or cost management or commercial management will be of the greatest interest.

Professional membership or working towards professional membership of the RICS, CIQS, PQS or a similar equivalent cost control/ cost management professional body is preferred

Employing Company Overview and Profile

This employer of Loan Monitors and Cost Consultants is a leading real estate and cost consultancy advisory firm based in Toronto, Ontario, Canada.

Full details of this excellent cost and Loan Monitoring consultancy and the fantastic long term cost management career prospects will be provided to shortlisted candidates.

Additional Benefits Package and Incentives

Salary is negotiable dependant on experience but will be in the order of CAD$75,000 - $100,000 dependant on quality of experience.

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