Federal and Special Initiatives Investment Lead (COM 4)

State of Washington

Washington

On-site

USD 90,000 - 130,000

Full time

14 days+

Get a reply from this employer

Your resume and cover letter, tailored to exactly what they’re hiring for.

Get past ATS filters

Benefits offered by this job

Medical and dental insurance benefits

Retirement and deferred compensation

11 paid holidays

Paid vacation 14-25 days

Sick leave

Employee assistance program

Job summary

State of Washington’s Department of Commerce seeks a Federal and Special Initiatives Investment Lead to manage HOME, NHTF and related special initiatives within the Housing Division. The role requires expert knowledge of federal housing programs, program design, and cross-agency collaboration to maximize impact on affordable housing development and preservation.

Responsibilities include developing underwriting guidelines, leading NOFA processes, and coordinating with federal funders, private

Qualifications

Intellectually curious, results oriented problem solver.
Experience underwriting, structuring, and closing complex real estate transactions.
Knowledge of federal housing programs (HOME/NHTF) and state initiatives.
Ability to lead program design, collaboration and public engagement.
Strong communication and staff supervision skills.

Responsibilities

Develop and implement procedures for competitive loan and grant processes for affordable housing.
Publish Notices of Funding Availability (NOFAs) in federal and state contexts.
Lead application review processes for federal and state programs.
Serve as statewide SME for HOME and NHTF programs and allocations.
Supervise professional staff and manage hiring processes.
Represent the unit in briefings, hearings and legislative interactions.
Coordinate with stakeholders to align funding with statewide needs.

Skills

Housing finance

Underwriting

Contracting

Policy analysis

Data visualization

Process improvement

Education

8 years of experience and/or housing finance education

Tools

NOFAs/NOIs process knowledge

Job description

Federal and Special Initiatives Investment Lead (COM 4)At the Department of Commerce, we’re reimagining what’s possible in government. We’re builders, thinkers, and change-makers, working at the intersection of innovation, community, and impact. From unlocking critical funding to fueling inclusive economic growth, we’re turning big ideas into real-world solutions that uplift people and places.

Our agency’s strength lies in the diversity of our workforce and the breadth of the lived experiences and perspectives employees bring to the work. We believe equity is not just a value but a practice, which is reflected in how we design programs, engage communities, and deliver outcomes. We foster a workplace culture where curiosity is encouraged, bold thinking is welcomed, and collaboration drives our impact.

Let’s build what’s next, together.

The Housing Division (HD) partners with local governments, Tribes, housing authorities, nonprofits and other organizations to develop and preserve affordable housing, promote individual and family self-sufficiency, and reduce adult and youth homelessness.

This position works within the Multifamily Housing Unit (MHU) of HD and is responsible for specific tasks within the State Housing Trust Fund (HTF) and federal HOME and National Housing Trust Fund programs. This position has as a high-level technical expertise and serves as the subject matter technical expert in state and federally funded development and financing of affordable housing including permanent supportive housing. Responsibilities include developing processes, tools, manuals and underwriting guidelines for federal and special initiative funding; develops, implements, negotiates, administers, and monitors the federal program notice of funding availability rounds, as well as special state initiatives as outlined by legislation and Housing and Urban Development (HUD). This includes work with potential fund recipients and affordable housing developers, the public, stakeholders, local government public funders, federal government funders, and private investors.

In compliance with federal requirements, the position develops processes to equitably distribute competitively awarded funds and serves as Commerce’s HOME and NHTF securitization specialist to protect the state’s interest through the use of complex contracts with community organizations, housing authorities and other eligible entities. The position may supervise lower-level staff.

Development and Statewide Deployment of HOME, NHTF, and Special Initiatives and Preservation Programs:

Establish and implement procedures for a competitive loan and grant process for the creation of affordable housing in accordance with federal regulations (and other federal stimulus programs as needed).
Write and publish Notices of Funding Availability (NOFAs) in compliance with federal requirements, budget and agency requirements.
Develop and maintain federal-program application forms and lead the application review process.
Collaborate with state counterparts to achieve complementary and optimum use of funds statewide.
Establish and implement procedures for a competitive loan and grant process for the creation and preservation of affordable housing in accordance with state regulations and legislative provisos.
Write and publish Notices of Funding Availability (NOFAs) in compliance with state requirements, budget and agency requirements for Special Initiatives as appropriated by the Legislature, as well as Preservation Programs.
Develop and maintain state-program application forms and lead the application review process for Special Initiatives and Preservation Programs.

Statewide Subject Matter Expert for the Federal Affordable Housing Programs:

Establish and maintain statewide program policies and processes and guide continuous program improvement relating to the HOME and NHTF Programs resource allocations.

Serve as a subject matter expert forfederal programs, establishing program priorities and long-term objectives, in compliance with federal requirements and any subsequent U.S. Department of Housing and Urban Development (HUD) guidelines.

Represent MHU as the federal programs expert by providing technical consultation, presentations and testimony to external stakeholders, public, legislative committees, and HUD, as necessary related to resource allocations.
Spearhead collaboration efforts with the public, stakeholders, local government public funders, and federal public funders for input in program design and implementation.
Convene and lead public hearings and public comment periods to solicit and receive public comment and input, in compliance with state and federal regulations.
Provide expert-level technical assistance and consultation to fund recipients and their staff regarding program and contractual requirements, cost eligibility and reimbursement.
Lead the submittal of reports and data to HUD, in compliance with federal requirements.
Research best practices and activities of other participating jurisdictions (PJs), including city, county, consortium, and state-level PJs, and assess for adoption and inclusion by Washington State that will reduce barriers, reduce bureaucracy, and address systemic inequitable access to capital for the development of affordable housing.
Prepare proposed legislation for new initiatives and navigate through the legislative process as directed by the MHU Managing Director or other members of the MHU management team.

Staff Management:

Supervises a team of professional staff.
Delegates workload responsibilities and assignments to staff.
Encourages and provides regular feedback, coaching, development and guidance to staff.
Evaluates staff performance and addresses performance concerns as necessary.
Recommends corrective and/or disciplinary actions to the Deputy Managing Director.
Manages staff mandatory training requirements ensuring timely completion.
Performs all aspects of the hiring process while ensuring all agency hiring procedures are followed and requirements are fulfilled in coordination with Human Resources.

Eight (8) years of combined experience and/or education as described below:

Experience

working in community, trade or economic development with a focus in two or more the following areas:

Affordable housing finance
Real estate underwriting
Contracting
Analyzing and applying policies, laws, rules or regulations regarding affordable housing finance
Intermediate level experience using data management, data visualization, and process improvement tools/methodologies.

Four (4) of the eight years must include the following:

Advanced level experience underwriting, structuring, and closing non-owner user commercial and/or multi-family real estate transactions.

Education

involves housing finance, business, public administration or related field. Qualifying education post High School or equivalent may be substituted year for year for experience.

8 years of experience
7 years of experience and one year of education
6 years of experience and two years of education
5 years of experience and three years of education
4 years of experience and four years of education
3 years of experience and five years of education
2 years of experience and six years of education
1 year of experience and seven years of education

Required Position Competencies:

Intellectually curious, results oriented problem solver.
Internally motivated self-starter with a focus on efficiency, correctness and process improvement.
Enjoys the challenges associated with transitionary business processes and thrives on making a difference.
Positive attitude and solution oriented.
Proficiency in verbal and written communication skills to clearly and succinctly document and describe processes, procedures, performance measures, and results.
Ability to track, organize and maintain individual workload timely and efficiently.

Preferred/Desired Qualifications:

Experience working with state Housing Trust Fund and HOME and National Housing Trust Fund federal housing program regulations.
Experience reviewing not-for-profit financial reports (annual audits, financial statements, cash flow).
Demonstrated knowledge of agencies, institutions, and processes involved in affordable housing development financing.
Thorough knowledge of grant and loan administration, contracting and accounting.
Experience working in a collaborative and team-based environment.
Experience working in an open work environment and/or telework.

Work from Anywhere in Washington State

This position may be located anywhere within Washington State though occasional travel to a Commerce office building or in-state travel to attend events or meetings may be required. If selected, you will need to travel to pick up equipment and receive instruction. Many Commerce employees work remotely or have a hybrid schedule.

This recruitment may be used to fill future vacancies over the next 60 days.

Technical support is provided by NEOGOV, 855-524-5627 (can't log in, password or email issues, error messages). DES job seeker support may answer general questions regarding the recruiting system at careershelp@des.wa.gov.

Our Commitment to Equal Opportunity

The Washington State Department of Commerce is an equal opportunity employer. We strive to create a working environment that includes and respects cultural, racial, ethnic, sexual orientation and gender identity diversity. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, veterans or people with military status, and people of all sexual orientations and gender identities are encouraged to apply. Persons needing accommodation in the application, testing, or interview process or this job announcement in an alternative format may email Human Resources at Human.Resources@commerce.wa.gov. Applicants who are deaf or hard of hearing may call through the Washington Relay Service by dialing 7-1-1 or 1-800-833-6388.

Benefits