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SalaryIntroduction
This is a Management Service position with full Maryland State Benefits
Work that Matters. The Maryland Department of Housing and Community Development (DHCD) is a national leader in financing affordable housing and revitalizing communities. This is an opportunity to join this nationally recognized, award-winning organization and apply your skills to this high public purpose and challenging area. Annually, DHCD finances approximately 4,000 multifamily rental housing units in 40 properties, amounting to over $500 million in construction and permanent financing. Funding comes from various sources, including state-appropriated funds, taxable and tax-exempt revenue bonds, federal low-income housing tax credits, federal HOME funds, and other federal funds. Additionally, DHCD administers rental assistance programs and innovative initiatives designed to expand affordable housing opportunities for persons with disabilities, increase the energy efficiency and sustainability of affordable multifamily developments, and preserve rental housing.
We are in need of a highly skilled and experienced financial professional responsible for the financial management of a multifamily loan from initial closing to final closing. This includes for reach assigned loan, the review and approval for all draw requisitions, cost certifications, and the final determination of loan proceeds. It also includes the review and comments on financial statements and preliminary capital budgets. This position oversees the disbursement of loan funds to ensure compliance with the terms of the loan documents and commitment.
DHCD offers a flexible work schedule, telework and job sharing options, training, advancement and career path opportunities, casual business dress on Fridays, and a competitive salary. There is ample parking and our offices are located in walking distance to the New Carrollton MARC Train Station.
GRADE
23
LOCATION OF POSITION
7800 Harkins Road Lanham, MD 20706.
The Department of Housing and Community Development Headquarters is located in Prince George's County across from the New Carrollton Metro stop.
POSITION DUTIES
This position is a highly skilled and experienced financial professional responsible for the financial Management of a loan from initial closing to final closing. This includes, for each assigned loan, the review and approval of all draw requisitions, cost certifications, and final determination of mortgage proceeds. It also included review and comments on financial statements and preliminary capital budgets.
This position oversees the disbursement of loan funds to ensure compliance with the terms of the loan documents and commitment. The position is responsible for: (1) ensuring that all requests for release of loan funds are analyzed and processed in accordance with departmental laws, regulations, guidelines, handbooks and policy, including timeliness; and (2) reviewing draws and cost certifications prepared by accounting professionals and approving such. Responsibilities include the approval of loan and grant disbursements for multiple DHCD financing programs including but not limited to the Rental Housing programs, Partnership Rental Housing Program, and Tax-Exempt and Taxable Bond Programs. These loans are made for projects which utilize other private and public funding and can be for very complex and Risky projects. The types of projects for which requests for payments (draws) are approved will generally consist of multiple sources of financing; high risk factors; complex or unique financing structures; variable rate financing; and combinations of taxable and tax-exempt bond issues. The loans are funded with State appropriations (Special Funds, General Obligation Bond Funds, and Federal Funds) and CDA-issued bonds.
Required skills include a thorough knowledge of accounting principals, real estate development, financial analysis and the ability to manage and work in a team setting. This individual must also have the managerial experience to successfully supervise staff and understand tax law and its impact on loan financing.
MINIMUM QUALIFICATIONS
Education: A Bachelor’s degree in Finance, Business Administration, Economics, Accounting, Construction Management, Architecture, or a related field from an accredited college or university.
Experience: Four, plus years of professional financial/risk analysis experience in the private or public sector, managing government programs, Lending and Risk Analysts, debt portfolios, examining and or analyzing financial statements, budget, grant or real estate investment portfolio records and reports, or four years of experience in Construction Management pertaining to single family and multifamily housing government programs (as applicable).
Notes:
1. Candidates may substitute the possession of a Quality Control Inspector certification, Project Management Certification, Leadership in Energy and Environmental Design (LEED) certification or certified Public Accountant (CPA) certification or documented eligibility to sit for the CPA Examination for the required education.
2. Candidates may substitute the possession of a Master’s degree in Finance, Business Administration, Architecture, Construction Management, Economics, Accounting or a related field from an accredited college or university for two years of the required experience.
3. Candidates may substitute Lending and Risk analysis professional experience such as managing financial asset and debt portfolios or residential construction discipline or multifamily construction management experience on a year-for-year basis for the required education. 4. Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in the Accounting or Loan Officer Classifications, or as a commissioned officer in business and industry classification or business and industry specialty codes in the housing management field of work on a year-for-year basis for the required experience and education.
DESIRED OR PREFERRED QUALIFICATIONS
- Experience in accepted accounting principles, real estate development, and financial analysis.
- Experience with Federal Low-Income Housing Tax Credits and Tax-exempt Bonds financing.
- Experience working in a team setting.
LICENSES, REGISTRATIONS AND CERTIFICATIONS
Employees in this classification may be assigned duties which require the operation of a motor vehicle. Employees assigned such duties will be required to possess a motor vehicle operator’s license valid in the State of Maryland.
SELECTION PROCESS
Please provide sufficient information on your application to document that you meet the minimum qualifications for this recruitment. Unofficial transcripts, certifications or diplomas to document educational or certification qualifications are required. Educational credentials from foreign countries must be evaluated by an approved education review service. This evaluation must be submitted with your application. For further information, you may call International Consultants of Delaware, Inc. (302) 737-8715 or World Education Services Inc. 1-800-932-3897 or (202) 331-2925. Successful candidates will be placed on the employment (eligible) list for at least one year. Eligible list may be used to fill future vacancies of the same classification. Successful candidates must document eligibility to work in the U.S. upon hire.
Please note: The Maryland Department of Housing and Community Development is not sponsoring new employees in application of the H-1B Visa at this time due to budgetary constraints. All applicants must be legally authorized to work in the United States under the Immigration and Reform Control Act of 1986. Federal regulations prohibit H1B Visa candidates from paying sponsorship fees, all sponsorship fees must be assumed by the potential employer.
EXAMINATION PROCESS
The examination will consist of a rating of your education, training, and experience related to the requirements of the position. You may be required to complete a qualifications supplement, or the rating may be based on your application. Therefore, it is important that you provide complete and accurate information on your application. Report all experience and education that is related to this position.
BENEFITS
State of Maryland Benefits
FURTHER INSTRUCTIONS
Online applications are STRONGLY preferred. However, if you wish to submit a paper application, you may mail your application and materials to:
Miles Peterson
Department of Housing and Community Development
Office of Human Resources
7800 Harkins Road, Lanham, MD 20706
All application materials must be received by the filing deadline. If you are unable to upload your transcripts into the system, please send via email to miles.peterson@maryland.gov. Please include the following information in the body of the email:
- Attn: Miles Peterson, HR Generalist
- Your First and Last Name
- Recruitment #
- Classification (Job Title) of Recruitment
Incorrect application forms, or resumes in place of the application, will not be accepted. If you are interested in these positions and cannot apply online please fill out the paper application. For questions concerning these positions, please call 301-429-7566.
TTY Users: call via Maryland Relay.
We thank our Veterans for their service to our country, and encourage them to apply.
As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.
