Director, Housing Finance Innovation

Chicago Housing Authority; Chicago (IL); On-site; USD 125,000 - 135,000; Full time

Benefits offered by this job

PTO package

Medical, dental, vision insurance

Disability insurance

Retirement plan

Job summary

Chicago Housing Authority seeks a Director of Housing Finance Innovation to lead the development of innovative financing strategies for affordable housing. This role focuses on alternative capital structures, emerging tools, and pilot projects to expand the CHA pipeline beyond LIHTC.

Two‑year grant‑funded position with philanthropic support; leadership across departments to advance system‑level financing, partnerships, and scaling efforts in Chicago.

Qualifications

• Bachelor's degree or higher in Finance, Real Estate, Economics, Public Administration, Urban Planning or related field.
• Advanced degree strongly preferred.
• 5+ years in affordable housing finance, capital markets, public finance, or real estate development.

Responsibilities

• Identify, structure, pilot, and implement innovative affordable housing financing strategies.
• Evaluate and structure tools such as debt, credit enhancement, and public‑private partnerships.
• Advise project teams on financing constraints and opportunities across active developments.
• Support underwriting, financial modeling, and deal structuring with innovative approaches.
• Collaborate with Finance, Procurement, and Development leadership to align processes and build capacity.
• Embed at least one innovative financing approach into an active project without LIHTC resources.
• Produce case studies, reports, and implementation plans for scaling innovations in Chicago.

Skills

Analytical skills

Communication skills

Presentation skills

Cross‑functional collaboration

Multi‑project management

Education

Bachelor's degree in Finance, Real Estate, Economics, Public Administration, Urban Planning or related field

Advanced degree preferred

Tools

Microsoft Word

Microsoft Excel

PowerPoint

Outlook

Financial modeling tools

Job description

POSITION SUMMARY

The Director, Housing Finance Innovation is a key, strategic role in CHA's Development & Asset Preservation Department. This role is responsible for identifying, structuring, piloting, and implementing innovative affordable housing financing strategies that expand CHA's development pipeline beyond traditional Low-Income Housing Tax Credit (LIHTC) financing. The Director will serve as CHA's dedicated subject-matter lead on alternative capital structures, emerging financial tools, and innovative approaches that accelerate new construction, preservation, and acquisition efforts across CHA's portfolio. This leader will independently evaluate and structure innovative financing models, guide project teams as they assess proposals from external partners and convene a citywide capital resource planning task force to advance system-level innovation with government, nonprofit, financial, and philanthropic stakeholders. The Director will also participate actively in departmental leadership efforts, support inter‑departmental process improvements, and strengthen internal coordination in service of CHA’s mission.

Please note this role is a two-year grant‑funded position made possible with generous philanthropic support from the Searle Funds at The Chicago Community Trust, the Michael Reese Foundation, and other Chicago‑based funders. While CHA aims to secure continued funding employment beyond two years is not guaranteed and depends entirely on funding availability.

DUTIES AND RESPONSIBILITIES

• Lead CHA's capital resource innovation efforts by identifying, structuring, piloting, and implementing innovative affordable housing financing strategies that expand CHA's development pipeline beyond traditional Low‑Income Housing Tax Credit (LIHTC) financing.
• Evaluate and structure financing tools such as debt products, credit enhancement strategies, public‑private partnership models, philanthropic or capital blends, and other mechanisms that reduce reliance on federal resources.
• Advise CHA project teams by assessing constraints, opportunities, and alternative financing structures for active developments in pre‑development or early planning phases.
• Support active CHA deals by participating in underwriting, financial modeling, and deal structuring efforts where innovative financing approaches may be integrated.
• Collaborate with key CHA departments, including Finance & Treasury, Procurement & Contracts, and Development leadership to align internal processes, understand operational requirements, and build organizational capacity for implementing new capital strategies.
• Embed at least one innovative financing approach into an active CHA project without traditional LIHTC resources.
• Produce a Chicago‑specific case study documenting lessons learned, challenges, opportunities, and scaling considerations from pilot efforts.
• Represent CHA in local, regional, and national partner convenings, roundtables, and working groups focused on innovative affordable housing finance.
• Deliver actionable reports and implementation plans, including a task force report synthesizing findings, recommendations, and pathways for scaling innovative financing approaches in Chicago.
• Perform other duties as assigned, consistent with departmental goals and CHA's mission.

QUALIFICATIONS

Bachelor's degree in Finance, Real Estate, Economics or Public Administration, Urban Planning or a other related fields or similar experience required. Advanced degree strongly preferred. 5+ years experience with affordable housing finance, capital markets, public finance, or real estate development, including demonstrated ability to structure complex financing strategies. Demonstrated experience assessing non‑traditional financing models, emerging capital tools, or innovative strategies for housing production or preservation. Deep understanding of affordable housing development, including funding sources, underwriting, regulatory requirements, and project delivery processes. Strong analytic skills, including the ability to interpret financial models, evaluate risk, and structure multi‑layered financing approaches. Demonstrated ability to work with cross‑sector partners including developers, public agencies, lenders, philanthropic institutions, and community stakeholders. Exceptional written, verbal, and presentation skills, with the ability to convey complex financial concepts clearly to diverse audiences. Ability to manage multiple projects simultaneously in a fast‑paced environment, exercising sound judgment and discretion. Demonstrated proficiency in facilitating teams and diverse groups. Experience with project management software and systems strongly preferred. Proficiency with Microsoft Word, Excel, PowerPoint, Outlook, and financial modeling tools. Ability to maintain confidentiality of privileged information. A wide degree of creativity and latitude is expected.

BENEFITS AT-A-GLANCE

• Vacation, Sick and Personal, competitive PTO package
• Medical (HMO, PPO, and No employee cost High‑Deductible PPO) Dental, Vision, and Life Insurance
• Short‑Term and Long‑Term Disability Insurance
• Long‑Term Care Insurance
• Pet Insurance
• Parking Transit
• Prepaid Legal Services
• Brightstar 529 College Savings Plan
• Identity Theft Protection
• Hospital Indemnity Insurance
• Voluntary Critical Illness Insurance
• Deferred Compensation Plan: Empower 457/401(a) with a 3% employer match
• Pension Plan: CHA makes contributions on behalf of the employee, along with the employee's 3% contribution; 100% vesting occurs after 6 years of continuous employment or opt‑out of CHA's Retirement Plan and continues to participate in the Municipal Employees Annuity and Benefit Fund of Chicago
• Hybrid work schedule (position specific) This position may be eligible for remote work following a successful completion of a 90‑day probationary period according to CHA's established policies and procedures.

Salary Range: $125,000 - 135,000

Grade: S10

FLSA: Exempt

Union: None