Program Manager III (C22082)
Asset Disposition/Workout Manager
|Department||DHCD - Div of Credit Assurance - Asset Management|
|Date Opened||5/13/2022 10:30:00 AM|
|Filing Deadline||6/23/2022 11:59:00 PM|
|Salary||$31.89 - $46.58/hour (Grade 21, Base - Step 15 with promotional growth to $52.23)|
|HR Analyst||Miles Peterson|
This is a contractual position with limited State of Maryland benefits
Work that Matters. The Maryland Department of Housing and Community Development(DHCD) is a national leader in the financing and development of affordable housing and community development lending. The department has an immediate opening for a Program Manager III, Asset Disposition/ Workout Manager in the Multifamily Operations /Asset Management. Located in the Division of Credit Assurance, the Multifamily Asset Management group’s purpose is to ensure the continued security of multifamily loans made by DHCD and the quality of the communities funded with those loans. The goal of this activity is to ensure the viability of the State’s security and the benefits to low- and moderate-income Marylanders. This position is responsible for assisting Director of DCA and Director of Multifamily Operations with creating strategies and implements steps for workout of problem loans, corrections in operations for underperforming properties or disposition of defaulting properties.
This position assists in oversight of the Maryland Department of Housing and Community Development’s portfolio managed by DHCD. DCA Multifamily Asset Management manages DHCD’s portfolio of over $1.8 billion in loans secured by multifamily housing complexes (the Assets). DCA also provides asset management for a growing portfolio of business loans under Neighborhood Business Works Program (NBW), with an outstanding loan balance of well over $36.8 million, serving entrepreneurs from all over the State of Maryland.
DHCD offers a flexible work schedule, telework and job sharing options; training, continual updating advancement and career path opportunities; casual business dress on Fridaysand a competitive salary. The agency is located at 7800 Harkins Road Lanham MD across fromthe New Carrollton Metro Stop.
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.
This is a senior underwriter position within the Division of Credit Assurance, functioning as the Senior Housing Disposition Manager, with the primary responsibility for handling the most difficult and complex loan workouts. The Disposition Manager must be experienced and adept in pinpointing the various causes of performance deficiencies associated with under-performing projects. The Disposition Manager must work quickly to minimize any potential loss to DHCD, by developing a comprehensive turn-around strategy, which may include loan modifications, forbearances, deed-in-lieu of foreclosure, and foreclosure. The Disposition Manager must be a skilled negotiator and must be familiar with liquidation, litigation, bankruptcy, and various court actions, all of which may be necessary to bring a workout to a successful conclusion. The Disposition Manager will keep the DCA Director and management apprised of current workout activity and will involve DHCD personnel as needed and appropriate. Other responsibilities may include evaluating requests for financing for multifamily rental projects and monitoring of approved projects through the initial closing, construction/rehabilitation, final closing and asst management phases of development.
Projects assigned will generally be in excess of $3 million, 100 or more units, with multiple sources of financing. The Disposition Manager may assist in training lower level asset management staff.
Education: A bachelor’s degree from an accredited college or university.
Experience: Six years of experience in asset management, investment banking or commercial banking, or similar experience within State or Federal housing agencies.
1. Additional professional and job experience as defined above may be substituted for on a year-for-year basis for the required education.
2. Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer involving staff works that include the regular independent judgment and analysis in applying and interpreting complex administrative plans, policies, rules or regulations or analysis of operational programs or procedures with recommendations for improvement on a year-for-year basis for the required education and experience.
DESIRED OR PREFERRED QUALIFICATIONS
- Extensive knowledge of HUD’s multifamily loan programs, particularly the Risk-Sharing Program
- A thorough understanding of the legal documents used in the financing of affordable multifamily housing projects
- Four years management experience with a State Housing Finance Authority or Federal Housing Agency in multifamily asset management Commercial loan management, loss mitigation, and asset disposition negotiations, and/or legal experience.
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.
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.
Contractual employees who work for an agency covered under the State Employee and Retiree Health and Welfare Benefits Program (the Program), have a current employment contract and work 30 or more hours a week (or on average 130 hours per month) may be eligible for subsidized health benefits coverage for themselves and their dependents. As a contractual employee, you will be responsible for paying 25% of the premiums for your medical and prescription coverage, including any eligible dependents you have enrolled. The State of Maryland will subsidize the remaining 75% of the cost for these benefits. You can also elect to enroll in dental coverage, accidental death and dismemberment insurance, and life insurance, but will be responsible to pay the full premium for these benefits. Leave may be granted to a temporary/contractual employee who has worked 106 days in a 12 month period. This leave accrues at a rate of one hour for every 30 hours worked, not to exceed 40 hours per calendar year.
Online applications are STRONGLY preferred. However, if you wish to submit a paper application, you may mail your application and materials to:
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.