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About the Role
The Director of Asset Management – Tax Credit will supervise the Statewide Asset Management Unit (SAMU), overseeing approximately twenty-five staff engaged in monitoring over 1,500 affordable housing developments across New York State. This role is part of the Office of Housing Preservation’s leadership team, contributing to inter-office initiatives for best practices, performance enhancement, and staff morale. The Director ensures enforcement of agency rules, policies, and applicable State or Federal laws within the AMU portfolio and represents the OIHM in various meetings.
Responsibilities
- Oversee the allocation and deployment of SAMU staff and resources across the agency’s four regional offices.
- Assist in the expansion of HCR’s integration efforts of its 4%, 9%, and Mitchell-Lama teams, focusing on eliminating redundant program requirements, streamlining asset management policies & procedures, and identifying and expanding cross-training opportunities.
- Supervise reorganizing, directing and hiring of an integrated Asset Management team.
- Keep current with all legal, regulatory and program requirements affecting SAMU’s existing portfolio; notify HCR program staff, project owners and managers of any changes to these requirements, as well as any relevant compliance training opportunities.
- Work with senior OIHM staff to develop policies and procedures for effectively monitoring projects entering SAMU’s portfolio under any new program.
- Review and approve project loan payoffs, management agent changes, ownership changes, and disbursements from HCR held reserve for replacement and tax and insurance escrow accounts.
- Coordinate Asset Management’s Internal Control oversight.
- Coordinate periodic assessment of the SAMU portfolio, aimed at identifying and capitalizing on preservation opportunities and addressing threats to any project’s physical and financial viability.
- Work with OIHM senior staff to expand HCR’s integration efforts, focusing on eliminating redundant program requirements, streamlining asset management policies & procedures, and identifying and expanding cross-training opportunities.
- Coordinate and direct SAMU’s preservation efforts to achieve the goals of the Governor’s 5-year housing plan part II, targeting distressed affordable housing assets, as well as the continuation of HCR’s existing preservation programs, such as the Preventative Troubled Asset Program and the Imperiled Project Program.
- Work with OHP’s leadership team to revamp the staffing and succession plan.
- Coordinate SAMU’s responses to any program audit, as well as SAMU’s implementation of any recommendations resulting from such audit.
- Work with HCR program and legal staff on the review of any proposed legislation that might affect the AMU portfolio or any related program.
- Ensure the Agency's website is updated by the Compliance unit and that all communications with FEHO, Legal, Treasury, Accounting and other Agency units are maintained frequently and adequately.
Requirements
- Bachelor’s degree with a minimum of eight years of relevant professional experience.
- Four additional years of specialized experience may substitute for the bachelor's degree.
- An associate’s degree combined with two additional years of specialized experience may substitute for the bachelor's degree.
- A J.D. (Juris Doctor) or master’s degree may substitute for one year of specialized experience.
- A Ph.D. may substitute for two years of specialized experience.
- Exceptional written and verbal communication skills, with a proven ability to clearly and effectively convey ideas and information.
- Demonstrated time management skills, with the ability to effectively prioritize tasks, manage multiple projects simultaneously, and consistently meet deadlines.
- A proactive, solution-oriented approach paired with a strong work ethic and commitment to excellence.
- Eagerness and enthusiasm for acquiring new skills and adapting quickly to evolving professional environments.
- A willingness and ability to innovate and explore creative solutions, continuously pushing conventional boundaries.
- Commitment to maintaining high-quality standards, ensuring that all work adheres rigorously to established style guides, standards, and professional best practices.
Skills
- Asset management
- Compliance monitoring
- Housing finance programs
- Low-Income Housing Tax Credit (LIHTC)
- Housing Trust Fund
- HOME programs
- Office of Community Renewal (OCR) programs
- Neighborhood Stabilization Program
- Manufactured Homes Program (MHP)
- Policy development
- Procedure development
- Staff supervision
- Budget management
- Performance improvement
- Cross-training initiatives
- Legal and regulatory compliance
- Inter-agency collaboration
- External stakeholder engagement
- Audit response
- Legislation review
- Website content management
- Communication
- Organization
- Time management
- Problem-solving
- Adaptability
- Innovation
- Quality assurance
Location
- New York State
Work Type
- Full-time
Experience Level
- 8+ years of relevant professional experience
Education Level
- Bachelor's degree or equivalent experience
About the Company
- New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.
- The Office of Housing Preservation manages HCR programs that maintain and enhance the state’s portfolio of existing affordable housing.
- The Statewide Asset Management Unit (SAMU) is responsible for the asset management and compliance monitoring of the Agency’s existing housing loan portfolio.
Equal Opportunity
- NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility.
- HCR is committed to developing a workforce which represents the diverse population of New York State.
- HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.