Director of Asset Management - Tax Credit

TieTalent; New York (NY); On-site; USD 120,000 - 180,000; Full time

Job summary

A leading company is seeking a Director of Asset Management for its Tax Credit program. This position involves overseeing a significant staff and affordable housing portfolio, ensuring compliance with regulations, and developing strategic policies. The ideal candidate will have a Bachelor's degree and substantial professional experience in asset management.

Benefits

Extensive benefits package including paid leave

12 weeks of Paid Parental Leave

Tuition reimbursement program

Vacation Leave Buy-Back program

Qualifications

• Minimum of eight years of relevant professional experience.
• Exceptional written and verbal communication skills.
• Proactive and solution-oriented approach.

Responsibilities

• Supervise activities of approximately twenty-five staff overseeing 1,500 affordable housing developments.
• Ensure compliance with legal, regulatory and program requirements.
• Develop policies for monitoring projects entering the SAMU portfolio.

Skills

Communication

Organizational Skills

Time Management

Problem-Solving

Education

Bachelor's degree

Job description

Director of Asset Management - Tax Credit

Director of Asset Management - Tax Credit

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About

About

New York State Homes and Community Renewal (HCR) is the State's affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.

A Civil Service exam is not required for this position. Candidates must meet the minimum qualifications outlined below to be considered.

NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce which represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.

The Office of Housing Preservation manages HCR programs that maintain and enhance the state's portfolio of existing affordable housing. We enforce the Rent Laws in New York State for over 900,000 housing units, while providing federal and state rental assistance to assist more than 45,000 families across the state. We also monitor 130,000 low-income housing units financed with federal and state resources and provide grant funding to help homeowners and tenants save energy.

The Statewide Asset Management Unit (SAMU) is responsible for the asset management and compliance monitoring of the Agency's existing housing loan portfolio. This portfolio has been financed under various loan and subsidy programs under Federal and State housing programs including the Low-Income Housing Tax Credit; Housing Trust Fund; HOME, RAD, Mitchell-Lama, and various other State housing programs.

Job Summary

The Director of Asset Management - Tax Credit will be responsible for the supervision of all aspects of the OIHM's Statewide Asset Management Unit ("SAMU"), including the activities of approximately twenty-five staff engaged in the monitoring and oversight of more than 1,500 affordable housing developments, with approximately 70,000 assisted units, across NY State. The AMU portfolio includes all projects financed under any Housing Trust Fund Corporation ("HTFC") program, the federal Low-Income Housing Tax Credit ("LIHTC") and HOME programs, various Office of Community Renewal ("OCR") programs and the Neighborhood Stabilization Program. In addition, the Co-director supervises HCR's oversight of the Manufactured Homes Program ("MHP") for the State's 1,875 mobile parks containing more than 87,000 individual sites.

The Director of Asset Management - Tax Credit will be part of the Office of Housing Preservation's ("OHP") leadership team. As such, they are expected to participate in, and to lead, inter-office initiatives aimed at identifying and implementing best practices, increasing performance and productivity, and enhancing staff morale. The Co-Director will also work with OIHM's management team to develop integration and cross-training initiatives focused on reducing costs, eliminating redundancies, and otherwise meeting the changing needs of the agency, our partners, and our program participants.

The Director of Asset Management - Tax Credit must be familiar with all agency rules and policies governing the AMU's various programs, as well as any applicable State or Federal laws, rules, or regulations (and any amendments or modifications thereto) and is responsible for ensuring their enforcement throughout the AMU portfolio.

The Director of Asset Management - Tax Credit must also represent the OIHM at intra-agency meetings, as well as at external meetings with elected and appointed officials, project owners and developers, other agency officials and industry group leaders.

The Director of Asset Management - Tax Credit will report directly to the VP of HCR's Statewide Asset Management Unit and will directly supervise the Assistant Director of AMU, the AVP's of Asset Management. The Director of Asset Management Tax Credit and Assistant Director Tax Credit will share direct supervision of the site director for each of AMU's four regional offices.

Specific Duties Include, but are not Limited to, the Following:

• Oversee the allocation and deployment of SAMU staff and resources across the agency's four regional offices.
• Assist in the expansion of HCR's integration efforts of its 4%, 9%, and Mitchell-Lama teams, focusing on eliminating redundant program requirements, streamlining asset management policies & procedures, and identifying and expanding cross-training opportunities. Supervise reorganizing, directing and hiring of an integrated Asset Management team.
• Keep current with all legal, regulatory and program requirements affecting SAMU's existing portfolio; notify HCR program staff, project owners and managers of any changes to these requirements, as well as any relevant compliance training opportunities.
• Work with senior OIHM staff to develop policies and procedures for effectively monitoring projects entering SAMU's portfolio under any new program.
• Review and approve project loan payoffs, management agent changes, ownership changes, and disbursements from HCR held reserve for replacement and tax and insurance escrow accounts.
• Coordinate Asset Management's Internal Control oversight.
• Coordinate periodic assessment of the SAMU portfolio, aimed at identifying and capitalizing on preservation opportunities and addressing threats to any project's physical and financial viability.
• Work with OIHM senior staff to expand HCR's integration efforts, focusing on eliminating redundant program requirements, streamlining asset management policies & procedures, and identifying and expanding cross-training opportunities.
• Coordinate and direct SAMU's preservation efforts to achieve the goals of the Governor's 5-year housing plan part II, targeting distressed affordable housing assets, as well as the continuation of HCR's existing preservation programs, such as the Preventative Troubled Asset Program and the Imperiled Project Program.
• Work with OHP's leadership team to revamp the staffing and succession plan.
• Coordinate SAMU's responses to any program audit, as well as SAMU's implementation of any recommendations resulting from such audit.
• Work with HCR program and legal staff on the review of any proposed legislation that might affect the AMU portfolio or any related program.
• Other duties include ensuring the Agency's website is updated by the Compliance unit and that all communications with FEHO, Legal, Treasury, Accounting and other Agency units are maintained frequently and adequately.
  
  

Qualifications

• Educational Requirements:
• Bachelor's degree with a minimum of eight years of relevant professional experience.
• Substitution Options:
• Four additional years of specialized experience may substitute for the bachelor's degree.
• An associate's degree combined with two additional years of specialized experience may substitute for the bachelor's degree.
• A J.D. (Juris Doctor) or master's degree may substitute for one year of specialized experience.
• A Ph.D. may substitute for two years of specialized experience.
• Communication and Organizational Skills:
• Exceptional written and verbal communication skills, with a proven ability to clearly and effectively convey ideas and information.
• Demonstrated time management skills, with the ability to effectively prioritize tasks, manage multiple projects simultaneously, and consistently meet deadlines.
• Professional Attributes:
• A proactive, solution-oriented approach paired with a strong work ethic and commitment to excellence.
• Eagerness and enthusiasm for acquiring new skills and adapting quickly to evolving professional environments.
• Creative and Quality-Focused Mindset:
• A willingness and ability to innovate and explore creative solutions, continuously pushing conventional boundaries.
• Commitment to maintaining high-quality standards, ensuring that all work adheres rigorously to established style guides, standards, and professional best practices.
  

This job description is not intended to be all inclusive and employee will be expected to perform other reasonably related duties as assigned.

What We Offer At NYSHCR

• Extensive benefits package including paid leave, including excellent health, dental, vision and retirement benefits with the New York State & Local Employees' Retirement System.
• Promotional opportunity for dedicated professionals
• Work life balance benefits including a 37.5 hour work week and paid time off benefits including, vacation, sick, personal days, and Federal Holidays
• Opportunity for compressed scheduling
• 12 weeks of Paid Parental Leave
• Paid Family Leave
• Opportunity for compressed/flextime scheduling
• As a New York State employee, you may qualify to participate in the Federal Public Service Loan Forgiveness Program (PSLF). The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under an accepted repayment plan and while working full-time for an eligible employer.
  
  

Additional SONYMA/HFA/AHC Benefits

• Cash in for Wellness! This program provides you with the option of buying or renewing a health club membership of your choice or enrolling in a weight loss and or smoking cessation program, using your sick leave accruals.
• Tuition reimbursement program - for job related and non-job related courses
• Vacation Leave Buy-Back program - Subject to approval, every year eligible employees may exchange previously earned and accrued vacation time in return for cash compensation (at employee's daily rate of pay at time of exchange)
• Access to Plum Benefits - savings on movie tickets, theme parks, hotels, tours, Broadway shows and more!
• Optical reimbursement program - Employees are eligible for optical, hearing aid, and podiatric expenses not otherwise covered by insurance, with a maximum aggregate amount of $650 per year, per family. Unused yearly balances may be carried over to the next year for a maximum of $1300
  
  

About New York State Homes And Community Renewal

Under the leadership of Governor Kathy Hochul and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State's housing resources. We have offices in New York City, Albany, Buffalo and Syracuse, and employ a diverse workforce of professionals who are hard-working and committed to serving low and moderate income families. Our mission is far reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders.

Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, construction. finance, law, and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical, and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement, and family-friendly policies.

• New York, New York
  
  

Work experience

• General Management
  
  

Languages

• English

Seniority level

• Seniority level

  Director

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Technology, Information and Internet

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