Job Description

About the Agency:

The NYC Department Housing Preservation & Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.

• We maintain building and resident safety and health

• We create opportunities for New Yorkers through housing affordability

• We engage New Yorkers to build and sustain neighborhood strength and diversity.

HPD is entrusted with fulfilling these objectives through the goals and strategies of Housing Our Neighbors: A Blueprint for Housing and Homelessness, Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.

Your team:

The Office of Policy and Strategy (OPS) leverages its expertise to guide and support HPD and its many Offices in their efforts to deepen their impact, optimize their efficiency, and become more data-driven, compliance-attentive, climate-adaptive, and mission-focused. To do so, OPS collaborates with staff and senior leadership from across the Agency, as well as with representatives from other Agencies. OPS carries out its work through delivery of rigorous data, policy, and financial/credit analysis; technical and statistical research; compliance awareness and adherence; and techniques in program visioning and design to all of HPD’s areas of practice.

The Office of Policy and Strategy is composed of four areas:

• Housing Policy;

• Strategic Operations & Analytics;

• Credit & Valuation; and

• Sustainability

The Chief Credit Officer/Executive Director (ED) of Credit & Valuation will oversee the Credit & Special Underwriting (C&SU) team and Acquisition & Land Valuation (A&LV) team.

Your Impact and Role:

Reporting to the Deputy Commissioner for Policy & Strategy, and working very closely with the Office of Development and Deputy Commissioner for Development, the Chief Credit Officer and ED of Credit & Valuation oversees the work of the C&SU unit and the A&LV unit. The C&SU unit is responsible for reviewing and approving all HPD projects that receive City Capital loans and/or discretionary tax exemptions and for completing special underwriting feasibility and cost/benefit analyses. The A&LV unit is responsible for completing appraisals to determine the value of City-owned land and development rights prior to disposition, and for reviewing external appraisals of privately-owned properties used in the development of affordable housing through HPD's various Development programs.

Your Responsibilities:

• Managing the C&SU and A&LV units, including overseeing hiring, staffing, and professional development initiatives for the team

• Providing direction and design methodology for special underwriting analyses for the C&SU team

• Serving as the HPD Credit Committee Chair

• Representing HPD externally in funding consortiums and inter-agency Credit Committees, or other special initiatives for the Agency or City

• Advancing critical underwriting discussions about deal structures with leadership in the Office of Development and program underwriting policies with external Credit Committee members

• Assisting in the review and modification of Agency underwriting policies and HPD program term sheets

• Undertaking critical special projects/initiatives as requested by the Deputy Commissioner or other Agency leadership

Preferred Skills:

• Professional experience demonstrating an understanding of real estate finance, underwriting, lending, development, advanced finance concepts, and the residential housing market

• Strong fluency in financial modeling and the ability to understand and build complex models

• Knowledge of affordable housing finance programs, including LIHTCs and those of HPD/HDC/HUD

• Stong management skills and experience fostering staff growth and development

• Collaborative, team player with the ability to also drive things forward independently

• Detailed-oriented, self-motivated, and able to manage multiple projects on a timeline

• Excellent verbal and written communication skills, including ability to present/convey complex concepts effectively

• A graduate degree in Real Estate Finance/Development, Business Administration, City Planning, or related fields are strongly preferred

Note: This position is eligible for remote work up to two days per week, pursuant to the Remote Work Pilot Program agreed to between the City and DC37.

Qualifications

1. A baccalaureate degree from an accredited college and four years of experience in one or more of the following areas: community organization, social work, urban development projects, real estate, public administration, or a related field, of which two years must have been in a field directly related to neighborhood improvement such as housing, community organization, urban renewal or planning, or real estate. A Law Degree or graduate work in an appropriate field may be substituted for up to two years of the general experience required; or

2. Education and/or experience equivalent to "1", including part-time and/or volunteer experience.

Additional Information

The City of New York 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.