Assistant Director Real Estate Development
RIHousing – Assistant Director Real Estate Development
Salary - $93,856.18 - $140,784.26
RIHousing is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
What it’s all about:
This position is accountable for the cost-effective management of RIHousing's multi-family housing programs to maximize resources and minimize risk, as well as the effective management of multiple federal, state and RIHousing programs to provide affordable housing opportunities to low income and special needs populations in Rhode Island. Incumbent also assists the Division Director in formulating policies, financial and strategic planning, legislative issues, assisting the Housing Resources Commission and overseeing other operating functions as required.
What you’ll do on a daily basis:
This position supervises, coaches, and develops the lending staff to ensure that funding recommendations and underwriting decisions are made in a prudent manner, based on proper credit analysis and RIHousing's funding and program policies, and priorities. Incumbent manages RIH’s loan approval process including the staff and board-level credit committees. The incumbent also manages the workflow of employees; establishes and maintains performance standards; reviews Board presentations; develops and implements appropriate training programs; and provides assistance in resolving complex operational and human resource issues.
Incumbent develops and implements policies, procedures, and systems to effectively administer a variety of multi-family housing programs including, but not limited to, taxable and tax-exempt first mortgage loans, deferred loans, tax credits, equity investments, construction loans and federal insurance and other subsidy programs or grants including but not limited to the HOME Program, Housing Trust Fund, and the Building Homes Rhode Island Program. He/she ensures that design, construction, underwriting, documentation and closing procedures comply with internal policies and regulatory guidelines. In this regard, incumbent keeps current on applicable federal/state laws and regulations; advises staff of changes; and maintains current procedures manuals.
This position coordinates the Requests for Proposal (RFP) processes for all types of multi-family funding programs to ensure financial viability of projects and compliance with applicable design, construction, and underwriting standards, as well as specific funding program requirements. He/she also oversees the provision of technical services to other divisions for the purpose of portfolio preservation and asset protection. This position serves as the division liaison to Finance, working closely to manage funding needs for the Development pipeline and coordinates with Finance on bond transactions.
He/she oversees the availability of technical assistance to for-profit and non-profits, municipalities, and community groups. Incumbent develops and maintains working relationships with federal, state, and local government officials, developers, builders, architects, lenders, non-profit groups and other interested third parties regarding multi-family development program issues. He/she works with these groups to identify, analyze, and recommend solutions to the state's affordable housing needs.
This position assists the Division Director in overseeing other functions within the Development Division as required. He/she also assists with program development, new initiatives, budgeting, and strategic planning and provides technical assistance to other divisions. In this regard, incumbent works closely with other senior managers.
What you’ll bring to the team:
- Technical expertise in underwriting and analyzing real estate transactions with a focus on risk analysis and financial feasibility
- The ability to multi-task and thrive in a fast-paced environment
- The ability to work with a wide variety of constituents
- A willingness to mentor less experienced staff and partners on the fundamentals of underwriting and community development
- Bachelor’s degree in business, public administration, real estate, or related field (Master’s preferred)
- Significant management experience in real estate development, community development or federal, low-income housing program administration, including staff supervision and training, with demonstrated knowledge of public/private financing, real estate investment analysis and design/construction practices and procedures
- Experience leading a creative team and providing mentorship, guidance, and clear communication
- Ability to adapt to a changing business environment and flexibility to incorporate evolving regulations and guidelines into existing programs
- Experience with non-profit groups, local communities, and state agencies
- Requires experience in soliciting, evaluating, and structuring commercial real estate transactions
- Excellent verbal and written communication skills
- Strong analytical, negotiation, problem-solving and organizational skills
- Use of personal vehicle, valid driver’s license and proof of insurance is required
- Mission Driven Organization
- Dedicated Workforce
- Competitive salary
- Parking Stipend
- Medical/Dental/Vision/Life Insurance
- Paid Time Off
- Retirement Options
- Flexible Work Hours
- Hybrid Work Option
- Education Reimbursement
- Onsite Fitness Classes
- Volunteer Days
- Winner of “Best Places to Work” 2016, 2018, 2019, 2021
- Worksite Health Award 2013-2021
To achieve our mission, we:
- Offer fair, affordable, and innovative lending programs.
- Provide housing-related education to consumers and others.
- Promote and finance sensible development that builds healthy, vibrant communities.
- Provide housing grants and subsidies to Rhode Islanders with the greatest need.
- Team up with partners to improve everything we do.