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(Senior) Community Investment Manager - Affordable Housing Programs

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Boston
 MA
Postal Code
02199
Country
United States

This job is no longer active.

Description


Position Summary

This position has responsibility for management of the affordable housing and community economic development outreach activities and the Bank’s targeted housing and community investment programs within an assigned geographic territory primarily in New England. The territories and boundaries are subject to annual review. The two territories currently available consist of 1) New Hampshire, Vermont, western Massachusetts including Worcester, metro-Boston, and those outside of New England or 2) Connecticut, Rhode Island, and metro-Boston. The territory and responsibilities include a distribution of Affordable Housing Program projects and the Bank’s member financial institutions and other stakeholder and industry-related organizations.  This position does not manage a direct report.

 

This position is based in our Boston office (Prudential Tower).  Travel, primarily within New England, is required.  The current travel expectation is approximately 5 - 10 %, with an anticipated increase over the next 12 to 24 months.

 

The primary responsibility is to provide technical assistance and training to members and others on the use of the Bank's targeted programs for housing and community development in the designated geographic area. The incumbent will manage their respective portfolio of members and funded Affordable Housing Program initiatives consistent with department policies and procedures and other Bank policies and regulations. This position also has responsibility for the recommendation of subsidy funding requests and compliance monitoring of the use of such funds. He/she will work closely with colleagues in the Housing and Community Investment department and Member Services, primarily the Bank's Relationship Manager serving members in that designated area.

 

The incumbent will frequently serve as the Bank's representative to the senior management of member financial institutions and to officers of local, state, and regional development organizations, governmental agencies and other district organizations on matters relating to the use of the Bank’s housing and community investment programs. The position may also be responsible for the implementation and administration of the Bank’s initiatives related to economic and community development and housing finance agency programs.

 

Specific Responsibilities

 

Relationship Management, Technical Assistance, Training and Outreach (25%):

  • Establish and maintain the Bank’s relationships with member financial institutions, sponsors/affordable housing developers, and other organizations for the purpose of supporting and facilitating the development of affordable housing and community economic initiatives, primarily within the assigned geographic area.
  • Provide technical assistance and training to members, sponsors/affordable housing developers, and other organizations on the features and use of the Bank’s targeted programs for housing and economic and community development.
  • Conduct outreach to members, sponsors, and other organizations through a range of forums and events, training sessions and webinars, individual technical assistance, and other avenues as needed. Outreach will also be achieved through assistance in the publication of articles in Bank and other publications/website regarding the Bank’s targeted programs or other community development topics as needed.
  • Attend and/or speak at groundbreaking and ribbon cutting events for his/her portfolio initiatives.
  • Work collaboratively with Bank staff, primarily HCI and Member Services, including the Relationship Manager for the assigned geographic area and member relationships.
  • Undertake special projects as needed, including serving as the departmental lead on major topics of interest, such as researching a new initiative or planning an event or conference.
  • Travel to events and meetings with and without overnight stays may be required.

 

Project Portfolio Management and Program Monitoring (50%):

  • Manage the portfolio of approved projects located within the assigned geographic area for the Affordable Housing Program, including but not limited to:
    • Maintenance of a tickler system for tracking assigned portfolio reporting requirements and program activities.
    • Monitor and analyze the use of the Bank’s AHP and development of each assigned initiative through all compliance reporting requirements, including semiannual reports.
    • Analyze, review, and recommend AHP subsidy disbursement and modifications requests for assigned initiatives.
    • Conduct or review AHP Closeout Monitoring Reviews at project completion for each initiative to determine compliance.
    • Manage assigned projects on the Department’s AHP Watch List and coordinate with the Manager, Deputy Director, and Director the curing and resolution of deficiencies including monthly, quarterly, and semiannual Watch List reports, and other reports as needed.
    • Manage other AHP projects in his/her portfolio with 3-ratings (for other issues and potential Watch List) and 2-ratings (for site visits).
  • Participate as a member of the review team in reviewing each funding round’s requests. Review assigned AHP applications for scoring and financial feasibility and conduct all due diligence as needed.
  • Other activities as required or assigned.
  • Travel for project site visits and member/developer meetings with or without overnight stays may be required.

 

Internal Processes and Administration (12.5%):

  • Review and assist with departmental strategic planning activities, such as the AHP Implementation Plan and Community Lending Plan.
  • Participate in the development of process enhancements to improve operational efficiency, including but not limited to review and development of the AHP Feasibility guidelines, departmental policies and procedures, desktop procedures, and other forms and system enhancements.
  • Plan and prepare presentations for use at Bank events.
  • Participate as an individual and/or as a member of the team in testing of Information Technology projects and/or requests.
  • Other activities as required or assigned.

     

    Other Program Responsibilities – Housing Finance Agency, Economic and Community Development Initiatives, Equity Builder Program, Community Development Advance, and Others (12.5%):

  • May be responsible for the implementation and administration of the Bank’s initiatives related to economic and community development and housing finance agency programs.
  • Review and recommend applications and/or funding requests and other compliance monitoring or reporting, as needed, to facilitate the workflow for EBP, CDA, NEF, JNE, HHNE, and other Bank programs.
  • Other program or project management as required.
  • Assist or manage other assignments or requests from department management.

     

    Qualifications

     

    A valid driver’s license is required for this role due to the need for business-related travel around the New England region.

     

    Education

  • A bachelor’s degree or equivalent professional experience is required, with a preference in business administration, economics, planning, housing/community development, or other related field. A Master’s degree a plus, but not required.

     

    Knowledge/Skills/Experience

  • A minimum of 3 years’ experience is required (consideration for a senior position requires 5+ years of directly relevant experience) working in commercial or multifamily lending, affordable housing and/or community development, development or management of residential, multifamily housing or commercial property, or in a comparable combination of specific educational achievements and work experiences.
  • Experience with underwriting economic and community development initiatives.
  • Demonstrate a current understanding of local, state, and federal housing and community economic development programs and knowledge of CRA regulations. Knowledge of regulations governing AHP a plus.
  • Ability to analyze financial statements, development budgets, and operating proformas. Knowledge of financing/structuring techniques commonly used to develop affordable housing. General project development and underwriting knowledge. Familiarity with affordable housing development-related legal documents, including loan documents, leases, affordability retention mechanisms.
  • Ability to effectively analyze, apply, interpret, and communicate policies, procedures, regulations.
  • Ability to work independently and as a team member.
  • Ability to prioritize and manage multiple responsibilities and stakeholders.
  • Possess problem-solving and analytical skills.
  • Ability to communicate effectively to a variety of audiences both in writing and orally, including public speaking.
  • Experience with the use of computers, computerized databases, spreadsheets and word processing is required. Specifically, experience with Microsoft Office applications is required. IBM Notes experience is a plus.

     

     

    The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity
    Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.

     

  • Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.

Applications are being accepted on the Careers page of our website:

 

Job Sector


 

Experience


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This job is no longer active.

Finance / Investment Residential Boston Full Time MA Development, Finance, Portfolio Management Director of Finance other