Description
Position Summary:
The Portfolio Analyst reports to the Vice President, Portfolio Analysis, actively monitoring and performing analysis of risk exposure for housing developments and loans within the HDC Asset Management portfolio, with a focus on public housing initiatives, including the New York City Housing Authority (NYCHA) Permanent Affordability Together (PACT) Portfolio. The Portfolio Analyst is also responsible for originating, underwriting, and closing mortgage loans to restructure debt and/or finance the rehabilitation of developments in HDC’s housing portfolio.
Area of Talent: Asset Management/Affordable Housing
Position Type: Full Time/Exempt
Salary Range: $75,000 to $85,000 annually
Location: NYC/Financial District
Responsibilities:
- Participate in performance monitoring, analysis, and problem-solving related to the public housing portfolio
- Participate in interdepartmental projects related to the public housing portfolio
- Establish and maintain relationships with project owners, managing agents, and various governmental agencies
- Review and analyze financial statements and physical inspection reports for each property
- Work closely with HDC’s Engineers on physical inspections that require timely follow-up
- Monitor properties and take appropriate and timely action on financial issues such as mortgage delinquencies and operational deficits.
- Work closely with Senior HDC staff to assess the performance of the HDC portfolio and to help design workout strategies for delinquent properties
- Underwrite mortgage loans (analyze loan proposals; review due diligence materials; prepare spreadsheets outlining each proposal; prepare credit memos; present loans to Credit Committee for approval)
- Coordinate mortgage loan closings with internal and external parties, including developers, other City agencies, bankers, bond underwriters, and tax credit syndicators
- Identify project-specific regulatory obligations through a thorough review of legal documents and agreements
- Provide support to the public housing program director, including preparing analysis, income and expense projections, and internal memos to support internal and external discussions
Required Qualifications:
- Bachelor’s degree in finance, real estate, or accounting; business administration with substantial course work/credits specific to finance, real estate, and/or accounting also acceptable
- A minimum of 2 years of relevant experience in real estate lending, and/or development; or a satisfactory combination of education and/or experience equivalent to the above
- Demonstrated interest in the affordable housing industry
- Strong financial analysis skills and proficiency in using mortgage loan models
- Microsoft Excel experience performing Intermediate level functions including spreadsheet creation and database management
- Strong interpersonal, verbal, and written communication skills, and the ability to build relationships with staff, executives, and external partners
- Strong organizational skills with excellent attention to detail
Preferred Qualifications:
- Knowledge of Federal, New York State, and New York City affordable housing programs and the development process is a plus
It is strongly preferred that you submit a cover letter with your resume. You may also fax your resume and cover letter to (212)227-6816.
HDC demonstrates a strong commitment to its employees by providing a salary that is competitive and commensurate with experience and excellent benefits, including:
- Health Benefits at a reasonable cost
- Dental and Vision Benefits at no cost
- Retirement savings plan with a generous match and a pension plan
- Paid holiday, vacation, sick time and parental leave
- Professional development opportunities
- Public Service Loan Forgiveness for eligible employees
- Wellness reimbursement
HDC 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.
HDC is committed to the full inclusion of all qualified individuals. As part of this commitment, HDC will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please complete the reasonable accommodations section on the application or contact Human Resources by emailing [email protected].