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About the Role

The Vice President of Multifamily Finance oversees the day-to-day operations of the Multifamily Finance team, focusing on the creation and preservation of affordable housing through various financing programs. This role reports to the Senior Vice President of Multifamily Finance & Development and is crucial for implementing the Governor’s Housing Plan.

Responsibilities

• Oversee the day-to-day operations of the Multifamily Finance team.
• Oversee the underwriting and approval of construction and permanent financing for multifamily housing utilizing 9% LIHTC, SLIHC, and State subsidy loan sources.
• Direct the development of multifamily housing financings.
• Oversee the annual RFP for 9% LIHTC, SLIHC, and related subsidy loan sources.
• Direct a team of professionals processing project applications through mortgage closings.
• Contribute to the creation of innovative financing structures and Agency term sheets.
• Develop and implement underwriting policy and procedures.
• Deploy Agency resources and personnel to meet the mission, goals, and objectives of the Agency's multifamily housing activities.
• Coordinate with internal offices (Legal Affairs, Fair and Equitable Housing, Design, Construction & Environmental) to advance projects.
• Collaborate with other State and local agencies on coordinated investments and programs.
• Represent the Agency in various interagency initiatives.
• Exercise independent judgment concerning the deployment of Agency personnel and resources, including hiring, promotion, evaluation, training, and retention of staff.
• Travel around New York State as required.

Requirements

• Bachelor’s degree with a concentration in Housing or Urban Planning and nine years of experience.
• Four years of specialized experience or an associate degree and two years of specialized experience may substitute for the bachelor’s degree.
• A J.D. or master’s degree may substitute for one year of specialized experience.
• A Ph.D. may substitute for two years of specialized experience.
• Ability to establish effective working relationships.
• Excellent oral and written communication skills.
• Strong analytical and organizational skills.
• Must include a resume with application.

Skills

• Multifamily finance
• Underwriting
• Financing structures
• Policy development
• Project management
• Team leadership
• Communication
• Analytical skills
• Organizational skills

Location

• Albany, New York State

Work Type

• Full-time
• Hybrid

Experience Level

• Nine years of experience required

Education Level

• Bachelor's degree in Housing or Urban Planning
• Associate degree
• J.D.
• Master's degree
• Ph.D.

Benefits

• Participation in New York State’s Health Insurance Program
• Participation in New York State & Local Employees’ Retirement System
• Promotional opportunities
• 37.5-hour work week
• Opportunity for compressed scheduling
• Paid time off (vacation, sick, personal days)
• Paid federal holidays
• 12 weeks of Paid Parental Leave
• Paid Family Leave
• Potential eligibility for Federal Public Service Loan Forgiveness Program (PSLF)

About the Company

• New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency.
• HCR's mission is to build, preserve, and protect affordable housing and increase homeownership throughout New York State.
• HCR is committed to fostering a culture of diversity, equity, inclusion, and accessibility.
• The Office of Multifamily Finance & Development leverages Low Income Housing Tax Credits, tax-exempt bonds, single family lending programs, and State-funded programs to finance affordable housing.
• HCR has offices in New York City, Albany, Buffalo, and Syracuse.
• HCR employs a diverse workforce committed to serving low- and moderate-income families.
• HCR's mission encompasses single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development.
• HCR partners with a variety of public and private stakeholders.
• HCR offers competitive pay and a comprehensive benefits package.

Equal Opportunity

• New York State is an Equal Opportunity Employer (EOE)