The Portfolio Manager reports to the Assistant Vice President, Portfolio Analysis, and is primarily responsible for monitoring the financial performance and physical health of housing developments within the HDC Asset Management portfolio, executing portfolio repositioning transactions, and developing solutions for underperforming properties.
Area of Talent: Asset Management/Affordable Housing
Position Type: Full Time/Exempt
Salary Range: $80,000 to $90,000 annually
Location: NYC/Financial District
- Establish and maintain relationships with project owners, managing agents, and various governmental agencies
- Work closely with Senior Asset Management staff to assess the performance of the HDC portfolio and help design workout strategies for underperforming properties
- Work closely with Portfolio Analysts to monitor properties and take appropriate and timely action on financial issues such as mortgage delinquencies and operational deficits
- Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to Credit Committee for approval)
- Coordinate mortgage loan closings with internal and external parties, including developers, other City agencies, bankers, bond underwriters, and tax credit syndicators
- Identify project-specific regulatory obligations through a thorough review of legal documents and agreements
- Bachelor’s degree in finance, real estate, or accounting; business administration with substantial course work/credits specific to finance, real estate, and/or accounting also acceptable
- A minimum of 3 years of relevant experience in real estate lending, and/or development; or a satisfactory combination of education and/or experience equivalent to the above
- Demonstrated interest in the affordable housing industry
- Strong financial analysis skills and proficiency in using mortgage loan models
- Microsoft Excel experience performing Intermediate level functions including spreadsheet creation and database management
- Experience with reviewing, interpreting, and applying government regulations
- 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
- Knowledge of Federal, New York State, and New York City affordable housing programs and the development process is a plus
- Preservation and Public Housing finance experience preferred
Submitted resumes must be accompanied by a cover letter. Please email your cover letter and resume to firstname.lastname@example.org or fax to (212)227-6816.
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 at a reasonable cost
- Dental and Vision Benefits at no cost
- Retirement savings plan with a generous match and a pension plan
- Paid holiday, vacation, sick time and parental leave
- Professional development opportunities
- Public Service Loan Forgiveness for eligible employees
- Wellness reimbursement
- Back up Caregiver benefit
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.