Agency Description:

The New York City Department of Housing Preservation and Development (HPD) is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and education programs for tenants and building owners.
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 Senior Director will oversee the Credit & Special Underwriting (C&SU) unit, situated within the Credit & Valuation team.

Your Impact and Role:
Reporting to the Chief Credit Officer/Executive Director of Credit & Valuation and working very closely with senior leadership in the Office of Development. 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 unit is also responsible for completing special underwriting feasibility and cost/benefit analyses.

Your Responsibilities

- Managing a team of analysts within the C&SU unit
- Serving as the HPD Credit Committee Co-Chair and member
- Overseeing the coordination of Credit Committee meetings and discussions
- Overseeing the C&SU unit’s review of Development projects, providing feedback and recommendations to Development staff and providing Credit approval signature
- Elevating any credit or underwriting issues to the Executive Director and advance resolution
- Assisting in the review and modification of Agency underwriting policies and HPD program term sheets
- Developing spreadsheet models, tools, templates to analyze and enhance existing underwriting policies and procedures
- Providing daily oversight of special underwriting analyses under the broader direction of the Executive Director
- Guiding the creation of internal training content for Agency staff about key financial concepts and tools
- Undertaking critical special projects/initiatives as requested by the Executive Director, Deputy Commissioner, or other Agency leadership



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.

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.

- 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 develeopment - 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

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.