Director, Multifamily Asset Management (045571) (Program Manager Sr. II)

State of Maryland; Lanham, Northern (MD, KY); Hybrid; USD 113,000 - 138,000; Full time

Benefits offered by this job

State Benefits

Flexible work schedule

Telework options

Job sharing

Job summary

Maryland Department of Housing and Community Development is seeking a Director, Multifamily Asset Management to lead the MF Asset Management team within the Division of Credit Assurance. You will monitor the financial and physical condition of multifamily projects and oversee compliance reviews and risk management.

The role requires extensive underwriting/asset management experience, strong leadership, and coordination with loan servicers and finance colleagues to support program goals.

Qualifications

• Bachelor's degree from an accredited college/university.
• At least four years of underwriting, credit analysis, servicing, compliance, asset management or risk mitigation experience at a housing agency or lending institution.
• Leadership or supervisory experience in a related finance or asset management role.

Responsibilities

• Oversee the Multifamily Asset Management team within the Division of Credit Assurance.
• Monitor physical and financial condition of MF projects and conduct compliance reviews.
• Analyze risk and plan strategies for loan workouts, defaults, foreclosures and dispositions.
• Coordinate asset management transactions, enforcement, and mortgage insurance programs.

Skills

Underwriting

Credit analysis

Servicing

Compliance

Asset management

Risk management

Leadership

Education

Bachelor's degree

Job description

Introduction

This is a Management 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 and development of multifamily affordable, business and community development, and single family lending. DHCD has an immediate opening for a Program Manager Senior II, Director, Multifamily Asset Management in the Division of Credit Assurance (DCA). The Multifamily (MF) division of DCA provides asset management for a large (and growing) portfolio of loans used to finance affordable housing projects throughout the State of Maryland. The MF team ensures the performance and security of MF loans made by DHCD and the quality of the projects financed by those loans. DHCD offers a flexible work schedule, telework and job sharing options, training, career path opportunities, casual business dress on Fridays, and a competitive salary.

GRADE

24

This position offers a salary range of $113,157 - 137,943/year, with potential for advancement up to $178,453 based on qualifications, equity, and hiring guidelines. Initial salary offers are determined by qualifications, experience, and available budget, and typically do no exceed $137,943/year.

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, MARC, and Amtrak Station.

POSITION DUTIES

The Director of Multifamily Asset Management (MF Director) reports to the DCA Deputy Director and must possess the knowledge to assist the DCA Director and Deputy Director in the overall administration of the Division of Credit Assurance’s Multi-Family Asset Management team. The MF director oversees the team responsible for monitoring the physical and financial condition of multi‑family housing projects, conducting compliance reviews, analyzing risk, planning and implementing strategies needed in cases of loan default, payoff, foreclosures, and disposition, and monitoring the performance of third‑party loan servicers. The MF Director assists the DCA Director and DCA Deputy Director in asset management transactions, loan workout and enforcement, multi‑family mortgage insurance programs, and daily oversight for finance, risk management, planning and general divisional administration.

MINIMUM QUALIFICATIONS

Education: A Bachelor's degree from an accredited college and or university

Experience: At least four years of experience in underwriting, credit analysis, servicing, compliance, asset management or risk mitigation, at a state or Federal housing agency or a public or private lending institution - or similar experience at other than an agency or lending institution working with multifamily residential or other commercial assets - including at least two years in a management, supervisory or other leadership capacity

Notes:

• 1. Additional professional and job experience as defined above may be substituted on a year-for-year basis for the required education.
• 2. Candidates may substitute U.S. Armed Forces military service as a commissioned officer involving staff works that include the regular independent judgement and analysis in applying and interpreting complex administrative plans, policies, rules or regulations or analysis of operational program or procedures with recommendations for improvement on a year-to year basis for the required education and experience.

DESIRED OR PREFERRED QUALIFICATIONS

• Experience underwriting or asset management of commercial loans or multifamily affordable housing projects and properties
• Experience with Federal affordable housing, subsidy, or loan programs such as Risk-Sharing Program, HOME, USDA Rural Development, LIHTC, Section 8, Section 811, RAD, and compliance monitoring protocols (e.g. HOTMA, NSPIRE, REAC)
• Experience working in a finance, accounting, or auditing position at a public or private organization reviewing or working with commercial finance statements

SELECTION PROCESS

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. 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.

BENEFITS

State of Maryland Benefits

As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.