Managing Director, Strategic Investments Group

Strategic Investments Group New York, New York


Our Vision: To make New York City the global model for inclusive innovation and economic growth, fueled by the City’s diverse people and businesses. 

Our Mission: To create shared prosperity across New York City’s five boroughs by strengthening neighborhoods and growing good jobs.

The Strategic Investments Group (“SIG”) structures impact investments to drive inclusive economic development by unlocking access to capital, mobilizing private investment, and supporting the growth of strategic sectors. To realize the vision of equitable, sustainable prosperity, SIG structures impact investments utilizing an array of innovative market-based financing solutions. SIG’s impact investment toolkit includes incentives, such as discretionary tax benefits, tax-exempt financing, and tax credits, as well as the deployment of catalytic investment capital through its portfolio of debt & equity funds. 

NYCEDC has several tools that can assist in achieving the goals of creating quality, accessible jobs in all five boroughs of New York City. New York City Industrial Development Agency (“NYCIDA”) negotiates discretionary tax incentives on behalf of the City for job-generating commercial, industrial and food retail real estate projects. Build NYC Resource Corporation is NYCEDC’s primary conduit bond issuing authority for tax-exempt financing for 501(c)(3) organizations and exempt facility projects. NYC Neighborhood Capital Corporation is NYCEDCs CDE formed to secure and deploy New Markets Tax Credit allocations to catalyze projects in underserved areas. Finally, NYCEDC maintains several investment vehicles that principally invest in a myriad of transactions to further the Corporation’s mission-aligned goals. Collectively, these tools can bring much-needed investment and services to underserved areas, generate high quality/accessible jobs, and leverage billions of dollars of private sector investment. 

Position Overview: Reporting to NYCEDC’S Chief Strategy Officer, the Managing Director will be charged with directing and managing the Strategic Investments Group's (SIG) financing and incentive programs to realize the City’s vision of equitable, sustainable prosperity. They will be responsible for developing and successfully implementing the department’s strategy to achieve NYCEDC’s mission-driven goals.  

The Managing Director will lead and manage a staff of approximately 14 professionals and will be responsible for developing new programs and investment structures that are consistent with City policy objectives and that meet the needs of market participants/prospective borrowers.  The Managing Director will be responsible for sourcing, originating, and developing a robust pipeline of new deals, structuring discretionary incentive packages for developers, operating businesses and not-for-profit entities, guiding deals through the necessary approval processes, and creating and maintaining strong working relationships with external clients.

Essential Duties & Responsibilities:

  • Develop and implement mission-driven investment strategies in close coordination with NYCEDC leadership and the Mayor’s Office 
  • Provide strong management to an approximately 14-member team of junior-to-senior-level financial and policy professionals 
  • Source and originate bond financing transactions, debt and equity investment opportunities, and incentive deals 
  • Supervise and provide direction on all aspects of investment funds management (fund creation, deal negotiation/structuring, marketing, etc.)  
  • Source, structure, and negotiate City involvement in awarding discretionary benefits to projects with real estate professionals, qualified businesses, end users  
  • Conduct transaction negotiations to maximizedouble bottom-linereturnsto the City, EDC and SIG  
  • Work with staff, underwriters, attorneys, bankers, and other project parties to ensure the financial structuring of individual transactions conforms with policy and legislative restrictions 
  • Troubleshoot deal intake/workout issues within the existing portfolio to the extent necessary  
  • Work with industry groups, underwriters, attorneys, and bankers to evaluate use of current tools and develop new financial products 
  • Work with the compliance and reporting departments to ensure proper policy outcomes tracking  
  • Build and maintain relationships with governmental and quasi-governmental agencies, real estate developers, Community Development Financial Institutions (CDFIs), PE/VC firms, investment banks, consultants, relevant business groups, civic and community stakeholders, and professional organizations 
  • Coordinate and collaborate with NYCEDC senior leadership, other City and State agencies, local representatives, and other groups to discuss projects and pending use of benefits (including project briefings) 
  • Engage in external engagement efforts to promote NYCEDC (i.e., public speaking engagements, and white paper creation) 
  • Develop, implement, and periodically update ongoing outreach and marketing to educate prospective end users and generate deal flow 
  • Participation as a member of the retirement plan committee with fiduciary oversight of company retirement plans 
  • Serve as mentor to staff  
  • Other duties, as assigned
Qualifications:
  • Master’s degree or equivalent in Law, Finance, Business, or Real Estate preferred 
  • 10+ years transactional finance experience or other related real estate expertise 
  • Possess experience and/or a strong understanding of the various types of financing structures, (i.e., debt, equity, quasi-equity, etc.), and have relevant experience with these transaction types  
  • Prior experience structuring and/or underwriting corporate and/or real estate transactions 
  • Direct experience with financial structuring analyses (NPV, IRR, COC,Valuation, etc.), isolatingkey drivers of investment return   
  • Some experience with New Markets Tax Credits is a plus 
  • Demonstrated experience developing and implementing strategic plans 
  • Prior experience managing teams
  • Prior experience managing corporate board(s) 
  • Demonstrated ability to work independently, lead project team and manage project managers on multiple complex transactions 
  • Ability to work in a team-based environment with limited oversight 
  • Proven strength in use of spreadsheet, database, and presentation applications, including Excel and PowerPoint 
  • Strong project management skills 
  • Strong interpersonal skills 
  • Strong written and oral communications skills including public speaking 
  • Ability to prioritize competing needs and opportunities 
  • Understanding of economic development issues 
  • Familiarity with NYC government 
  • New York City residence is required within 180 days of hire
  • As of August 2, 2021, all new hires must be vaccinated against the COVID-19 virus as defined by the CDC, unless they have been granted a reasonable accommodation for religion or disability

About Us: NYCEDC is New York City’s primary vehicle for promoting economic growth in each of the five boroughs. Our mission is to create shared prosperity across New York City’s five boroughs by strengthening neighborhoods and growing good jobs. We do this by developing, managing, and implementing expansion and redevelopment programs that encourage investment and strengthen the city’s competitive position.

NYCEDC is dedicated to the creation of a dynamic, equitable, and sustainable urban economy. We are making sure that whatever happens next, happens right here in New York City—and that all New Yorkers are a part of it.

NYCEDC offers many unique advantages for an exciting and fulfilling career. As part of our team, you’ll enjoy:

  • The unique opportunity to make an impact on New York City
  • Working on diverse, unique, and challenging projects
  • Working closely with teams of creative, highly motivated, and passionate people
  • Learning opportunities designed to enhance the practical skills and business knowledge of our employees
  • Excellent benefits, including company-paid 401(a) pension plan, 457(b) tax-advantaged retirement savings plans, medical, dental and vision benefits, generous paid family leave and paid time off, and other perks

The New York City Economic Development Corporation is an Equal Opportunity Employer. Our diversity and inclusion mission is to attract, retain, and engage a diverse workforce comprised of talented people. NYCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone’s contributions are valued, respected and make an impact on one of the best and most diverse cities in the world!

For more information, visit our website at edc.nyc.