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Job Title : AVP Strategic Preservation Initiatives(NYS Homes and Community Renewal)
Date Posted : January 21, 2020
Type :

Description :

New York State Homes and Community Renewal (HCR) fosters the creation and preservation of high quality affordable housing, while working strategically to revitalize neighborhoods and communities throughout the Empire State. Under the leadership of Governor Andrew M. Cuomo and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State’s housing resources. We have offices in New York City, Albany, Buffalo and Syracuse, and employ a diverse workforce of professionals who are hard-working and committed to serving low and moderate income families. Our mission is far reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders.

Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, architecture, finance, law and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement and family-friendly policies.

Job Description

This position will report directly to both OHP’s Senior Vice President/Chief Strategy Officer for Portfolio Preservation and the Senior Vice President for Finance and Development.  The Assistant Vice President- Director of the Workout Group will collaborate with both Senior Vice Presidents to create and manage a new Workout Group with HCR. HCR’s Asset Management teams supervise 240,000 units of housing across the state and between the Housing Plan production and new IRS guidelines, the workload is growing significantly. While the majority of the portfolio is in good physical and financial condition and abiding by the appropriate regulatory requirements, a small minority of properties are troubled. Currently day-to-day asset management functions as well as addressing troubled properties are handled by the relevant asset management group. The new workout group will have responsibility for addressing troubled properties in collaboration with asset management team.

Duties and Responsibilities include, but are not limited to:

  • Working with the Senior Vice Presidents to determine the staffing plan for the Workout group including the relevant skills needed.
  • Managing the day-to-day operations of the Workout Group including:
    • Proactively monitor loan performance, reserve levels, physical condition of all portfolios
    • Identify properties that require emergency funds to address exigent health and safety issues
    • Refine watch list criteria in partnership with asset management teams
    • Provide trainings to asset management teams as needed
    • Perform budget rent determinations for Mitchell-Lamas that include refinancing, or an equity take out.
    • Represent HCR on the boards of Mitchell-Lamas as-needed and facilitate return of boards to sponsors
    • Identify need for Project-Based Section 8 Vouchers in properties and coordinate with HCR’s Section 8 team
    • Create financial recovery plans for properties and execute – includes forbearance requests, regulatory relief, etc.
    • Identify, in partnership with asset management, when properties should leave supervision due to physical conditions
    • Coordinate with F&D on products, Unified Funding, Open door.
    • Coordinate with syndicators, partner agencies, and TA/training providers

Requirements:

  • Master’s degree in Business Administration, Public Administration, or City Planning with concentration on Real Estate or Public Finance and/or experience in real estate and/or affordable housing preferred;
  • Previous experience in managing a team
  • Experience executing repositioning of affordable properties
  • Significant expertise in Low-Income Housing Tax Credit program and/or Mitchell-Lama program.
  • Knowledge and/or experience in real estate and/or affordable housing;
  • Quantitative skills including expertise in Excel;
  • Excellent relationship management, analytical and negotiation skills;
  • Strong oral and written communication skills;
  • Demonstrated capacity for collaboration, performing multiple tasks, analyzing complex processes, and using independent judgment.

This job description is not intended to be all inclusive and the employee will be expected to perform other reasonably related duties as assigned.

WHAT WE OFFER:

  • Extensive benefits package including paid leave, excellent health, dental, vision and retirement benefits;
  • Promotional opportunities for dedicated professionals.

Location-NYC

TO APPLY, please send resume and cover letter to: Jobopportunities@nyshcr.org

New York State is an Equal Opportunity Employer (EOE)


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