Assistant Credit Analyst


(Credit Underwriting) #1

Job ID: 376417
Number of Positions: 1
Business Title: Assistant Credit Analyst
Civil Service Title: Community Coordinator
Title Code No: 56058
Level:00
Title Classification: Non-Competitive
Job Category: Policy, Research & Analysis
Proposed Salary Range: $ 65,000.00 - $ 75,000.00 (Annual)
Career Level: Experienced (non-manager)

Work Location: 100 Gold Street
Division/Work Unit: Operations

Job Description

The Office of Development currently seeks an Assistant Credit Analyst to join the Credit & Special Underwriting Unit. If you are interested in real estate development, financial underwriting and affordable housing policy, and want to work in a fast-paced environment at the intersection of these areas, then we want to hear from you!

The Office of Development leads the Agency’s efforts to create or preserve affordable housing. This mission is performed through collaboration with HPD’s various offices and divisions; with the for-profit and not-for-profit development community; with private lenders and equity investors; and with other city, state, and federal agencies.

The Credit & Special Underwriting unit, under the supervision of the Executive Director, is responsible for reviewing all Development projects receiving City capital subsidy or discretionary tax benefits for financial integrity, appropriate levels of assistance, and conformance with agency policies; the unit reviews over 100 Development projects each year. Additionally, the unit often plays a key role in development feasibility studies, and the creation or evaluations of affordable housing financial policy. The Assistant Credit Analyst will aid in and perform complex technical analyses, financial modeling, and general problem solving for the unit and senior Development staff. This position represents a good opportunity to learn HPD’s development process, policy considerations in the financing of affordable housing, and work on special projects for the Deputy Commissioner of Development as needed.

Responsibilities – Typical functions include, but are not limited to:

  • Preparing materials for Credit Committee meetings
  • Managing pipeline of projects and assignments on behalf of the Credit & Special Underwriting unit
  • Aiding in the creation of Development staff training initiatives
  • Analyzing policies, underwriting standards, budget costs, land valuations, affordability, and real estate tax benefits
  • Reviewing project financial underwriting and Credit Memos
  • Developing complex analytical spreadsheet models, tools, and templates
  • Undertaking special financial analysis projects/initiatives as requested by the Executive Director or other senior Development staff

Minimum Qual Requirements

  1. A baccalaureate degree from an accredited college and two years of experience in community work or community centered activities in an area related to the duties described above; or
  2. High school graduation or equivalent and six years of experience in community work or community centered activities in an area related to the duties as described above; or
  3. Education and/or experience which is equivalent to "1" or "2" above. However, all candidates must have at least one year of experience as described in "1" above.

Preferred Skills

Preference will be given for the following skills and experience:

  • 1+ years of prior work experience in real estate/affordable housing finance, underwriting, acquisitions, development, and/or other highly quantitative fields
  • Strong interest in affordable housing and affordable housing financing programs
  • Strong organizational skills to manage multiple projects and prioritize workflow in a fast-paced environment Highly analytical and research-oriented
  • Excellent attention to detail
  • Strong financial modeling skills in Microsoft Excel
  • Excellent verbal and written communication skills
  • Curious and self-motivated
  • Effective and collaborative team player
  • Graduate degree in Real Estate Development or Finance, Urban Planning, or related field preferred
  • Bachelor’s degree required, with a preference for quantitative coursework

Residency Requirement

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.