Assistant Commissioner Division of Portfolio Management and Conversions
Assistant Commissioner Division of Portfolio Management and Conversions
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1 Vacancy
Job Description
The New York City Department of Housing Preservation Development (HPD) promotes quality and affordability in the citys housing and diversity and strength in the citys 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 10year planned investment in housing to $22 billion the largest in the citys history. This investment coupled with a commitment to reduce administrative and regulatory barriers is a multipronged strategy to tackle New York Citys 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:
The Office of Development leads the agencys effort to preserve and create new affordable housing opportunities across the City of New York following the Mayors Housing Plan. As the Assistant Commissioner for the Division of Portfolio Management and Conversions you will oversee and facilitate the successful completion and conversion of the HPDs financed affordable housing pipeline and ensure a smooth handoff to HPDs Office of Asset and Property Management and other units as appropriate.
Your Role:
Your role will be to work in close coordination with other divisions within the Office of Development and across HPD including HPD Legal Marketing Asset and Property Management and Fiscal and in partnership with the New York City Housing Development Corporation (HDC) and other City state and federal agencies. You will be a voting member of the HPD Credit Committee and will work closely with HPD Legal in the review of regulatory amendments and loan adjustments that occur postinitial loan closing and in conjunction with loan conversion. You will have primary responsibility for managing all postclosing and preconversion engagement and negotiations with developers lenders and other development partners from the private and nonprofit sectors. You will contribute to and at times lead development of agency strategy and public policy on such topics as compliance with regulatory agreements implementation of rental assistance evaluation of existing programs conversion process improvements and lowering risk ratings in HPDs portfolio. You will be responsible for developing maintaining and growing a team dedicated to this work.
Your Responsibilities:
Responsibilities include:
Initiate and set Division direction and goals including the structuring of key staffing placements and the processes necessary to manage all aspects of postclosing construction and preconversion process including but not limited to monitoring the construction process managing requisitions ensuring rental assistance and project rental achievement and working with development teams to meet all closeout and conversion requirements including clearing violations and addressing title issues executing amendments to commitments regulatory loan and other documents troubleshooting complex workouts communicating on multistakeholder projects and employing reporting metrics.
Track and report out on the divisions activities.
Establish and implement the divisions annual goals to support the completion and conversion of HPDs financed project portfolio in consultation and collaboration with other Office of Development leadership.
Lead and develop a team responsible for activities including loan conversions loan closeouts workouts rental subsidy rent restructuring construction oversight and other operations. Ensure quality and consistent in operations.
Coordinate with multiple internal divisions and HPD leadership as well as external partners including developers owners lenders and syndicators.
Field and respond to inquiries both internal and external about division activities. As part of this effort the Assistant Commissioner will be responsible for prioritizing potential issues and making sound recommendations to the Deputy Commissioner.
Ensuring costeffectiveness by leading efforts to ensure timely completion and conversion of projects including implementing protocols to ensure efficient use of public subsidies.
Identify projects that require workouts craft recommendations to stabilize projects and work with staff in Preservation Finance Homeownership Opportunities and Finance New Construction Finance and Special Needs Housing to secure additional financing or other resources as needed.
Fostering innovation in the creation of new process financing models and deal structures to address the needs of complex workouts of projects prior to conversion and other policy priorities.
Ensuring a successful handoff to other internal and external partners upon completion and other conversion including Asset and Property Management Fiscal and loan servicers.
Contributing to the development implementation and tracking of strategic plans for the Office of Development and the Agency.
Other responsibilities and initiatives as may be required to ensure the success of the division the Office of Development and the Agency.
Preferred skills
The position requires a strong background in real estate finance with experience in community development and construction a plus. All candidates should have:
Extensive knowledge of financial tools and theory as well as facility in the use and analysis of financial models
Demonstrated knowledge of real estate development in New York City including construction and conversion requirements
Demonstrated experience in establishing operations and procedures to ensure successful outcomes.
Excellent verbal and written communication skills
Excellent analytical organizational and quantitative abilities
Demonstrated ability to meet deadlines and manage multiple projects in a timely manner
Demonstrated management and supervisory experience
Strong track record of working with the affordable housing development industry
Additional Information :
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 individuals sex race color ethnicity national origin age religion disability sexual orientation veteran status gender identity or pregnancy.
Remote Work :
No
Employment Type :
Fulltime
Employment Type
Full-time
