JOB SUMMARY: The Senior Preservation Programs Manager ("Programs Manager") assists in the preservation of affordable housing in New York State by working with developers, owners, managers, and other Agency units to promote the stability of properties in HCR's 4%, 9%, and Mitchell-Lama portfolios. In the face of rising insurance costs, low collections, and other operational pressures, projects around the state are facing unprecedented challenges which threaten their financial and physical health. The Programs Manager will support the Vice President of Strategic Preservation Initiatives and other Statewide Asset Management Unit staff in the execution of programs and policies that better position HCR's portfolio for success in the short- and long-term. The Programs Manager will also lead transactions including subsidy and grant closings, repositioning strategies, refinancings, and workouts for distressed projects in need of intervention. Additionally, the position will support the risk assessment process for portfolio projects, help monitor and address delinquencies, as well as assist with the prioritization of projects for inclusion in the HCR Office of Finance and Development's preservation subsidy pipeline. The position will work extensively with other Agency units, including Legal, Data Management, and the Office of Research and Strategic Analysis (ORSA), as well as external stakeholders such as lenders, owners, and investors.
Summary of position responsibilities:
- Evaluate feasibility and eligibility of projects applying for preservation awards
- Maintain preservation program pipelines and manage internal approvals for projects closing on subsidy/grants
- Interact with property owners/managers/developers
- Review project loan documents and regulatory agreements
- Perform analyses of portfolio-level financial information to identify trends and vulnerabilities
- Review and update delinquencies information from the Mortgage Insurance Fund and external first position lenders
- Prepare written materials for presentation to Credit Committee and Board, as necessary
- Train and assist other staff (including junior team members) regarding preservation program financial review and project management
- Assess property risk profiles, in collaboration with other OHP staff
- Assess and make recommendations regarding the workout, repositioning, or intervention strategies for distressed properties
- Maintain project prioritization documents
- Develop a timeline and the approach needed to bring each transaction from intake to completion
- Attend calls, meetings, and discussions in connection with proposed initiatives or transactions
- Provide regular progress reports to senior Agency staff, as applicable
- Work closely with Agency Legal staff to prepare for closings
- Attend courses, conferences, and other industry events
- Some travel required
- Assist in other functions/duties of Office of Housing Preservation as assigned
QUALIFICATIONS:- Bachelor's Degree in related field
- Advanced Degree (desirable but not required)
- 5+ years of professional experience in the affordable housing industry
- LIHTC experience highly preferred
- Quantitative, financial analysis and modeling (excel) skills a plus but not necessary
- Some knowledge of government housing programs (LIHTC, Mitchell-Lama, Section 8, Enhanced Vouchers, RAD Conversions, Inclusionary Housing, HOME, etc.)
- Proficiency in Microsoft Office applications.
- Strong written and verbal communication skills.
- Strong research abilities.
- Strong project management skills and follow-through.
- Ability to take charge, multi-task and prioritize appropriately in a constantly changing environment and act with a sense of urgency and accountability.
- Highly driven and values entrepreneurialism; works well within ambiguity.
- Exceptional attention to detail.
- Sound judgment.
This job description is not intended to be all inclusive and employee will be expected to perform other reasonably related duties as assigned.
BENEFITS: - Extensive benefits package including paid leave, including excellent health, dental, vision and retirement benefits with the New York State & Local Employees' Retirement System.
- Promotional opportunity for dedicated professionals
- Work life balance benefits including a 37.5-hour work week and paid time off benefits including vacation, sick, and personal days as well as Federal Holidays
- 12 weeks of Paid Parental Leave
- Paid Family Leave
- Opportunity for compressed/flextime scheduling
Additional SONYMA/HFA/AHC Benefits:
- Cash in for Wellness! This program provides you with the option of buying or renewing a health club membership of your choice or enrolling in a weight loss and or smoking cessation program, using your sick leave accruals.
- Tuition reimbursement program - for job related and non-job related courses
- Vacation Leave Buy-Back program - Subject to approval, every year eligible employees may exchange previously earned and accrued vacation time in return for cash compensation (at employee's daily rate of pay at time of exchange)
- Access to Plum Benefits - savings on movie tickets, theme parks, hotels, tours, Broadway shows and more!
- Optical reimbursement program - Employees are eligible for optical, hearing aid, and podiatric expenses not otherwise covered by insurance, with a maximum aggregate amount of $650 per year, per family. Unused yearly balances may be carried over to the next year for a maximum of $1300
