Assistant Commissioner of Credit & Valuation, Office of Policy & Strategy

City of New York • New York City, NY

2d

About The Position

About the Agency: The New York City Department of Housing Preservation and Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love. - We maintain building and resident safety and health - We create opportunities for New Yorkers through housing affordability - We engage New Yorkers to build and sustain neighborhood strength and diversity. ________________________________________ HPD’s Office of Policy and Strategy (OPS) leverages its expertise to guide and support HPD and its many offices in their efforts to deepen their impact, optimize their efficiency, and become more data-driven, compliance-attentive, climate-adaptive, and mission-focused. To do so, OPS collaborates with staff and senior leadership from across the agency, as well as with representatives from other Agencies. OPS carries out its work through delivery of rigorous data, policy, and financial/credit analysis; technical and statistical research; compliance awareness and adherence; and techniques in program visioning and design to all of HPD’s areas of practice. The Assistant Commissioner will report to and serve as a senior advisor to the Deputy Commissioner for Policy & Strategy on matters at the intersection of housing finance and policy and will oversee the two teams in the Division of Credit & Valuation, Credit & Special Underwriting (C&SU) and Acquisition & Land Valuation (Appraisals). The C&SU team is responsible for reviewing and providing feedback on HPD projects that receive City Capital loans and/or discretionary tax exemptions, completing special underwriting feasibility and cost/benefit analyses and conducting complex financial analyses to support agency policy initiatives. The Appraisals team is responsible for completing appraisals to determine the value of City-owned land and development rights prior to disposition, and for reviewing external appraisals of privately-owned properties used in the development of affordable housing through HPD's various affordable housing programs. The Assistant Commissioner will work closely with the teams from across OPS and the Office of Development (OOD) as well as engage with the agency’s senior leadership. They will work closely with both the Deputy Commissioner and the members of the Division on a daily basis in a rigorous, growth-oriented and supportive environment.

Requirements

• A baccalaureate degree from an accredited college and four years of experience in one or more of the following areas: community organization, social work, urban development projects, real estate, public administration, or a related field, of which two years must have been in a field directly related to neighborhood improvement such as housing, community organization, urban renewal or planning, or real estate. A Law Degree or graduate work in an appropriate field may be substituted for up to two years of the general experience required; or
• Education and/or experience equivalent to "1", including part-time and/or volunteer experience.
• Authorization to work in the United States is required for this position.
• The NYC Department of Housing Preservation and Development does not provide sponsorship for international employees for visa applications, extensions, or status changes, including H-1B visas.
• Applicants are responsible for ensuring that they meet all qualifying requirements for this position at the time of application

Nice To Haves

• Exceptional leadership skills with the ability to build team culture, provide feedback and build capacity among individual team members.
• Exceptional people skills with the ability to build relationships, influence others to achieve outcomes and thrive in a team environment.
• Very strong understanding of real estate finance institutions, portfolio analysis, risk management and the residential housing market, particularly the New York City context.
• Knowledge of local, state and federal affordable housing finance programs.
• Capable of making high-impact financial and policy decisions that align with broader housing policy goals.
• Excellent verbal and written communication skills, including the ability to present/convey complex concepts effectively.
• Ability to adapt and work under pressure and restrictive deadlines, in an atmosphere of intense activity.
• Passion for public service; and
• An equity lens and deep commitment to radical inclusivity.

Responsibilities

• Lead the C&SU and Appraisals teams, building and maintaining a culture of rigor, collaboration and inclusivity.
• Oversee the work of Credit & Valuation, ensuring that all of the team’s work, including but not limited to appraisals, credit reviews, and complex financial models is highly accurate, responsive and timely, guides the responsible and efficient investment of the city’s financial resources, creates stability within and mitigates risks to HPD’s affordable housing portfolio, and promotes programmatic and policy decisions that protect the physical and financial stability of the housing stock and align with its mission;
• Develop staff expertise, provide ongoing professional development, and ensure the team remains at the forefront of industry best practices.
• Collaborate internally and externally to develop guidance and policies that improve risk management and investment strategies in the context of underwriting capital and other projects.
• Collaborate internally and externally to ensure the agency has the appropriate systems in place to monitor the physical and financial stability of the City-backed projects; and
• Provide advice and counsel to the Deputy Commissioner, other teams within OPS, and other senior agency leaders on a wide range of housing finance topics.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 5,001-10,000 employees