Address
SalaryJob Number:396318
Description
JOB ANNOUNCEMENT
JOB ANNOUNCEMENT
ASSISTANT COMMISSIONER (Underwriting)
DEPARTMENT OF PLANNING & DEVELOPMENT
Bureau of Economic Development
Number of Positions: 1
Starting Salary: $118,128.00 – $133,524.00
The City of Chicago’s Department of Planning & Development is responsible for the economic development growth of the City and it’s neighborhoods. This work is largely done through the Department’s Bureau of Economic Development (“the Bureau”), whose mission is to create equitable economic growth throughout Chicago, by investing financial resources and support in people, businesses, and neighborhoods. To do that, the Bureau administers a variety of programs including Community Development Grants (CDG), Neighborhood Opportunity Fund (NOF), Tax Increment Financing (TIF), and property tax abatements. In total, the City has used these programs to make approximately $1.7 billion in investments in Chicago’s neighborhoods over the past five years
The Assistant Commissioner of the Underwriting Group is responsible for the day-to-day management of the Bureau’s evaluation of projects requesting the use of City funds and the oversight of staff members primarily responsible for this work. This principally involves reviewing application materials, identifying community benefits and alignment with the Department’s overall goals, and conducting financial and feasibility analyses in order to make recommendations regarding the use of the City’s financial incentive resources. For recommend projects, the Assistant Commissioner also manages the internal review process, contract negotiations, legislative approvals, and the execution of the agreement. The Assistant Commissioner also works in close coordination with the Bureau’s Deputy Commissioner in order to assist and facilitate the operation of the City’s various incentive programs.
ESSENTIAL DUTIES
- Oversees the underwriting process for all projects requesting the use of funds, including application review, the negotiation of agreements, legislative approval, and contract execution
- Supervises a staff of ten-plus Financial Planning Analysts who each have a project portfolio
- Serves as the primary point of contact and authorized representative for the Chicago Development Fund, which is responsible for applying for and overseeing the distribution of the City’s allocation of New Market Tax Credits
- Represents the department at City Council when seeking its approval for the use of funds for specific project
- Maintains and reports-out on key performance indicators, program effectiveness data points, and staff-level metrics that demonstrate the overall effectiveness of the group and its staff
- Evaluates group operations to identify opportunities to improve existing programs, policies, or procedures that result in a more efficient and effective underwriting process
- Ensures a high degree of project and program data integrity including the Bureau’s consistent use of PROMA in order to improve the department’s data-driven decision making
- Engages external stakeholders for both project-specific issues, including developers, community-based organizations, and residents
- Directs and coordinates special projects or studies as may be required
- Directs training and development activities for Bureau staff
Additional duties may be required for this position
Location:City Hall, 10th Floor
Days: Monday – Friday
Hours: 9:00am – 5:00pm
THIS POSITION IS EXEMPT FROM THE CAREER SERVICE
Qualifications
MINIMUM QUALIFICATIONS
MINIMUM QUALIFICATIONS
- Graduation from an accredited college or university with a Bachelor’s degree in Finance, Business Administration, Public Administration, Urban Planning, or a related field, PLUS five (5) years of work experience related to the position, of which two (2) years are in a supervisory role related to the responsibilities of the position; OR
- Graduation from an accredited college or university with a Master’s degree in Finance, Business Administration, Public Administration, Urban Planning, or a related field, PLUS four (4) years of work experience related to the position, of which two (2) years are in a supervisory role related to the responsibilities of the position
SELECTION REQUIREMENTS
This position requires applicants to complete an interview. The interviewed candidate(s) possessing the qualifications best suited to fulfill the responsibilities of the position will be selected.
Preference will be given to candidates possessing the following:
- Ability to manage multiple projects effectively and simultaneously
- Ability to analyze and evaluate the feasibility of complex financial proposals of real estate development, including project pro formas and development budgets
- Ability to negotiate and execute agreements and other legal documents
- Proficiency in the application of financial planning and commercial lending principles
- Ability to evaluate and communicate the impact of research, policy proposals, and legislation
- Ability to establish and maintain positive working relationships with elected officials, government staff, community and civic leaders, and the public
ALL REFERENCES TO POLITICAL SPONSORSHIP OR RECOMMENDATION MUST BE OMITTED FROM ALL APPLICATION MATERIALS SUBMITTED FOR CITY EMPLOYMENT.
The City of Chicago in an Equal Employment Opportunity and Military Friendly Employer.
City of Chicago
Brandon Johnson, Mayor
Applications for this position will be accepted until 11:59pm CDT on 03/12/2024
Job Posting: Feb 13, 2024, 12:00:00 AM | Closing Date (Period for Applying) - External: Mar 12, 2024, 11:59:00 PM
BU: 09 | Salary: $118,128.00 - $133,524.00 Pay Basis:Yearly
