Assistant Vice President, Portfolio Analysis
The Assistant Vice President (AVP) will lead a team of Portfolio Analysts, manage a pool of loans securitized by HDC, manage the repositioning of affordable developments encumbered by debt and various regulatory restrictions, and devise solutions for underperforming projects in the HDC portfolio. The Portfolio Analysis team is tasked with monitoring the performance of housing developments within HDC’s portfolio, analyzing financial and physical conditions, and providing solutions for underperforming properties, including underwriting debt restructuring, rate modification, and mortgage refinancing transactions. This role reports to the Vice President, Portfolio Analysis.
Area of Talent: Asset Management/Affordable Housing
Position Type: Full Time/Exempt
Salary Range: $90,000 to $105,000 annually
Location: NYC/Financial District
- Lead a team of Portfolio Analysts, responsible for monitoring properties, taking appropriate and timely action on financial issues such as mortgage delinquencies and operational deficits, and reviewing requests for withdrawals from project reserve accounts maintained by HDC
- Manage a pipeline of preservation, rate modification, and refinancing transactions, working with internal and external partners, to manage projects from application, through credit and board approval to funding
- Research and report on industry best practices and innovations for preserving affordable housing developments, including alternate funding sources and performance efficiencies
- Work closely with senior Asset Management staff to assess the performance of the HDC portfolio and help design repositioning strategies for underperforming properties
- Review credit memos and supporting schedules prior to Credit Committee submission
- Oversee requests for the approval of limited partner and general partner exits, and other changes to ownership structures, and requests for the approval of managing agents
- Establish and maintain relationships with project owners, managing agents, and various governmental agencies
- Conduct departmental training and orientation for new Portfolio Analysts
- Participate in interdepartmental projects
- Perform other duties and work on special projects as assigned
- Bachelor’s degree in Finance, Real Estate, Accounting, or Urban Planning. Advanced degree preferred.
- Five years of professional work experience, including real estate financial analysis, project management, mortgage underwriting, real estate finance/development, or community development
- Management experience required
- Knowledge of Federal, New York State, and New York City affordable housing programs and funding sources, including Low-Income Housing Tax Credits (LIHTC), Tax-exempt Bonds, and NYCHA’s Permanent Affordability Commitment Together (PACT)
- Knowledge of Article XI, 420C, J-51, and other tax incentive programs utilized in New York City and New York State affordable housing programs
- Strong financial analytical skills and proficiency in mortgage loan modeling
- Strong understanding of workouts, debt restructuring, and other strategies for repositioning affordable housing developments
- Strong interpersonal, verbal, and written communication skills, and the ability to build relationships with staff, executives, and external partners
- Strong organizational skills with excellent attention to detail
Submitted resumes must be accompanied by a cover letter. Please email your cover letter and resume to email@example.com or fax to (646) 304-4819.
As of August 2, 2021, all HDC hires must be vaccinated against the COVID-19 virus, unless they have been granted a reasonable accommodation for religion or disability.
If you are offered employment, this requirement must be met by your date of hire, unless a reasonable accommodation for exemption is received and approved by HDC.
HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits including health benefits, retirement savings, and career development programs.
HDC is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.
HDC is committed to the full inclusion of all qualified individuals. As part of this commitment, HDC will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact Human Resources by emailing jobs@NYCHDC.Com.