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Job Title : Assistant Commissioner (AC) for the Division of Asset Management(NYC Dept. of Housing Preservation & Development)
Date Posted : July 20, 2021
Type :

Description :

Proposed Salary Range: $160,000.00 - $160,000.00 (Annual)

Your Team:

The Office of Asset and Property Management (APM) leads the agency’s effort to protect the City’s affordable housing investment and ensure that these properties remain affordable and both financially and physically viable over the long-term. APM actively monitors the performance and regulatory compliance of City-sponsored projects and City-supervised Mitchell Lama projects, and also manages the City-owned inventory of properties.

APM includes the Divisions of Asset Management, Property Management & Client Services, Housing Supervision, Housing Opportunities & Program Services, and Co-op Readiness & Technical Services.

Your Impact:

As the Assistant Commissioner (AC) for the Division of Asset Management, you will manage a growing portfolio that currently includes over 5,700 buildings with approximately 163,000 units. These properties received City financing at some point and the goal of the Asset Management division is to protect the City’s investment by ensuring the properties remain affordable, and in good financial and physical condition. You will also play a key role in identifying properties that require either an enforcement intervention or new assistance from the City.

Your Role:

Your role will be to lead four critical units responsible for monitoring compliance of the Agency’s rental and homeownership programs. These units are as follows:

Asset Management Unit

This unit actively monitors the performance of projects against City regulatory agreements. The unit works with senior agency staff to create and administer policies and procedures that ensure responsible stewardship of affordable housing. Their work includes identifying strategies to treat troubled projects and to promote long-term affordability in City-financed assets.

Housing Development Fund Cooperatives and Real Estate Transactions This unit monitors the performance of the HDFC portfolio consisting of more than 1,000 cooperatives financed and created through HPD’s homeownership programs. In addition, it handles submissions from developers requesting consent to sell or refinance their housing projects.

Homeowner Mortgage Servicing Unit This unit focuses on monitoring owner compliance with HPD mortgages and managing regulatory agreements for owner-occupied homeownership projects where debt repayment is required. Their work requires analyzing complex legal and financial documents related to loans and subsidies.

Tax Credit and HOME Compliance This unit is responsible for ensuring that the Agency meets its compliance monitoring obligations for buildings financed with Low Income Housing Tax Credits (LIHTC) and Federal Home Investment Act funds (HOME). Their work includes interpretation of federal regulations and confirming that properties meet Federal Housing Quality Standards (HQS).

Your Responsibilities:

  • Directly manage the three Directors for the units in the Division of Asset Management
  • Provide leadership and guidance to help shape both day to day and long-term work of the division
  • Proactively identifying areas for process improvement across all operations • Ensuring the collection of pertinent data and metrics required to assess portfolio performance
  • Problem-solving complex challenges and developing corrective action procedures and policies
  • Coordinate with the Office of Development to determine necessarily financial interventions including workouts and refinancing solutions
  • Representing the APM’s Deputy Commissioner in interactions with City Hall and internal and external stakeholders
  • Interfacing with internal and external stakeholders, including HPD Legal Department and the New York City Law Department, to revise and streamline legal documents that strengthen and clarify sponsor obligations

Minimum Qual Requirements

Preferred Skills

  • Preference will be given to candidates with at least 5 years of asset management experience and/or experience managing large complex property portfolios or operations
  • Demonstrated ability to effectively manage large teams working on diverse, complex issues
  • Project and interpersonal management skills, including strategic planning, communication, prioritization, delegation, and negotiation
  • Financial analysis and assessment of financial and physical risk, as well as recommendation of short and long-term mitigation tools
  • Creative problem solving skills, including through data analysis, process improvement, and professional and organizational development
  • Knowledge of affordable housing and of Federal Low Income Housing Tax Credits and HOME rules and regulations

MINIMUM QUALIFICATION REQUIREMENTS:

1. Graduation from accredited college with a baccalaureate degree; and four (4) years of progressively responsible supervisory, administrative, or consultative experience in law, management of multiple dwellings administration of housing development programs, community organizations, rehabilitation of residential properties, or related work, including either one (1) year of executive-level experience in administering government-subsidized housing programs, or one (1) year of experience directing a legal program related to government-subsidized housing programs. A law degree from an accredited college and admission to the Bar of the state of New York may be substituted for up to two (2) years of the general experience required; or

2. A satisfactory equivalent

To Apply

Apply Online

Work Location

100 Gold Street

Residency Requirement

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.

Apply for Job: https://www1.nyc.gov/jobs. select agency (NYCHPD) and enter the JOB# (467008)


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