About the Agency:

The New York City Department of 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:

HPD’s 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, climate-adaptive, and mission-focused. The Division of Credit & Valuation (DCV) within OPS assesses and establishes the financial value, risk and feasibility associated with HPD projects, programs and policy proposals.

Your Impact:

Within DCV, the Credit & Special Underwriting team (C&SU) team is responsible for reviewing and providing feedback on HPD projects that receive City Capital loans and/or discretionary tax exemptions, completing special underwriting feasibility and cost/benefit analyses and conducting complex financial analyses to support agency policy initiatives. The Senior Credit Analyst will perform complex technical analyses and financial modeling for the unit and senior staff, including the Deputy Commissioners of Policy & Strategy and Development. The Senior Credit Analyst will work collaboratively within the team and with staff from other HPD Offices, while also working independently on various projects.

Your Role:

Reporting to the Executive Director of C&SU, the Senior Credit Analyst will:

-Analyze policies, underwriting standards, budget costs, land valuations, affordability terms, and real estate tax benefits to assess the costs/benefits of proposed deal structures and/or project/program feasibility.
-Review and refine underwriting and Credit Memos for proposed affordable housing projects both ad-hoc and comprehensively to guide negotiations and ensure Credit Memos accurately document transaction history.
-Develop dynamic financial and data models, tools, and templates for special projects and/or for use by other Agency staff to inform proposed programs, policies and legislation.
-Assess and enhance underwriting procedures, developing best practices training to equip the Office of Development and other agency staff with essential financial concepts and analytical tools; and
-Broaden understanding of project lifecycles to assist in identifying key C&SU touchpoints where financial analysis is required.

Preferred Skills:

-Strong understanding of real estate finance, underwriting, lending, development, advanced finance concepts, valuation and the residential housing market, particularly the New York City context.
-Knowledge of local, state and federal affordable housing finance programs.
-Ability to build and understand complex models and summarize findings.
-Strong verbal and written communication skills, including ability to present/convey complex concepts effectively.
-Strong people skills with the ability to build relationships, influence others to achieve outcomes and thrive in a team environment.
-Ability to adapt and work under pressure and restrictive deadlines, in an atmosphere of intense activity.
-Passion for public service; and
-An equity lens and deep commitment to radical inclusivity.

ADMINISTRATIVE PROJECT DIRECTO - 9556A

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.

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at https://studentaid.gov/pslf/.

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.

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.