Introduction
This is a Skilled Service position with full State of Maryland benefits.
Work that matters. The Maryland Department of Housing and Community Development (DHCD) is a national leader in the financing of 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 units of multifamily rental housing in 40 properties, amounting to $500 million in construction and permanent financing. Funding comes from a variety of 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.
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
21
This position offers a salary range of $84,229 - $101,869/year, with potential for advancement up to $136,003 based on qualifications, equity, and hiring guidelines. Initial salary offers are determined by qualifications, experience, and available budget, and typically do not exceed $101,869.
LOCATION OF POSITION
7800 Harkins Road
Lanham, MD 20706
The Maryland Department of Housing and Community Development is located in Prince George's County across from the New Carrollton Metro stop.
POSITION DUTIES
The main purpose of this position is to underwrite and close tax-exempt bond, 4% low- income housing tax credits (LIHTC), 9% LIHTC, and State-provided subordinate loans for affordable multifamily housing transactions by originating loans for the investments. The position structures financing transactions using taxable and tax-exempt bonds, low- income housing tax credits, FHA insured loans, RAD, HAP, and other sources of housing capital and operating subsidy by performing development and feasibility analysis to evaluate pro forma, income and expense assumptions, market demand, zoning and land use, construction risks, capital budgets, and regulatory compliance. The position coordinates closing due diligence and provides guidance and training to interns and less experienced underwriters as needed.
MINIMUM QUALIFICATIONS
Education: Graduation from an accredited high school or possession of a high school equivalency certificate.
Experience: Four years of professional financial/risk analysis experience, such as managing government programs, 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 (as applicable), and four years of professional financial analysis experience, such as managing financial asset and debt portfolios, or four years of residential construction discipline or multifamily construction management.
Notes:
1. Candidates may substitute the possession of a Bachelor’s degree from an accredited college or university in Finance, Business Administration, Architecture, Economics, Accounting, Construction Management or a related field and four years of professional financial/risk analysis experience, such as managing government programs, 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 (as applicable) for the required experience.
2. Candidates may substitute the possession of a Certified Public Accountant (CPA) certification or documented eligibility to sit for the CPA Examination and four years of professional financial/risk analysis experience, such as managing government programs, 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 (as applicable) for the required experience.
3. Candidates may substitute the possession of a Master’s degree from an accredited college or university in Finance, Business Administration, Architecture, Construction Management, Economics, Accounting or a related field and two years of professional financial/risk analysis experience, such as managing government programs, risk analysts, debt portfolios, examining and/or analyzing financial statements, budget, grant or real estate investment portfolio records and reports, or two years of experience in Construction Management (as applicable) for the required experience.
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.
DESIRED OR PREFERRED QUALIFICATIONS
- Experience preparing and presenting financing proposals
for review and approval.
- Experience underwriting Low Income Housing Tax Credit
(LIHTC) loans and/or federal loans.
- Experience performing feasibility analysis.
- Experience analyzing a company’s credit and financial
stability.
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
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.
