RISK ASSESSMENT OFFICER

Arizona Department of Administration • Phoenix, AZ

2d • $60,000 - $80,000 • Hybrid

About The Position

This position will analyze rental development proposals to determine their financial feasibility and the extent to which they require financing. This position will analyze rental proposals using ADOH’s financial spreadsheet model (for cash flow, gap analysis) and by reviewing development budgets, operating proformas, partnership agreements, appraisals, market demand studies, capital needs assessments, equity commitments, private financing, and developer capacity. Other duties as assigned.

This position may offer the ability to work remotely, in Arizona, to include in-office hoteling, based on the department’s business needs and continual meeting of expected performance measures. Must have the ability to commute and utilize our Phoenix office hoteling space as needed.

The State of Arizona strives for a work culture that affords employees flexibility, autonomy, and trust. Across our many agencies, boards, and commissions, many State employees participate in the State’s Remote Work Program and are able to work remotely in their homes, in offices, and in hoteling spaces. All work, including remote work, shall be performed within Arizona.

Requirements

• Candidates must possess a high-speed internet connection to facilitate remote work.
• Qualified candidates must be detail-oriented, organized individuals with demonstrated ability to:
• Read and interpret the provisions of the following financial instruments as they pertain to commercial real estate transactions: partnership/operating agreement (along with its ancillary agreements), deed of trust, promissory note, loan agreement, Conditions Covenants and Restrictions (CC&R), Land Use Restriction Agreement (LURA), and subordination and inter-creditor agreements;
• Read and interpret the provisions of the following ancillary reports as they pertain to commercial real estate transactions: title insurance commitments, hazard and liability insurance documents, market study, appraisal, and capital needs assessments;
• Perform extensive spreadsheet modeling using Microsoft Excel;
• Communicate effectively through verbal and written means (using Microsoft Word and G-Mail), and in a group environment;
• Track progress in various trackers and project management systems (such as Asana);
• Interpret and explain state and federal regulations;
• Work amicably with other professionals in the role of providing an internal service to the agency;

Nice To Haves

• Preference is given to candidates holding a Bachelor’s Degree or higher in a field related to finance, real estate, construction, government or related field plus five or more years of successful experience in a similar role in a bank, government, or affordable housing development, or some combination of similar experience and education.
• Highest qualified candidates will have direct experience analyzing complex financial structures of affordable multifamily housing developments subsidized through the LIHTC Program and other multifamily financing vehicles such as private activity bonds, HOME, and NHTF in combination with private financing, and other public subsidies and loans.

Responsibilities

• Analyze rental proposals using ADOH’s financial spreadsheet model (for cash flow, gap analysis) and by reviewing development budgets, operating proformas, partnership agreements, appraisals, market demand studies, capital needs assessments, equity commitments, private financing, and developer capacity.
• Provide written and verbal analyses to the Rental Programs Administrator and work as part of the Rental Development team to determine which projects will receive funding awards.
• Assist with the scoring of LIHTC, HTF, HOME and other rental development applications.
• Conduct underwriting reviews corresponding to the following phases of development: Application; Carryover; Equity Closing; and the issuance of IRS Form 8609s.
• Prepare and obtain documents necessary to assist the Attorney General and Asset Manager with project changes, refinances, restructures and ownership changes.
• Conduct other Rental Development division duties such as assisting with LIHTC Workshops, meeting with developers, providing input into the Qualified Allocation Plan, updating policy documents and conducting research for special studies.
• Occasional travel is required.
• Other duties as assigned.

Benefits

• Flexible schedules to create a work/life balance
• Paid Parental Leave-Up to 12 weeks per year paid leave for newborn or newly placed foster/adopted child (pilot program)
• Participation in the Arizona State Retirement System (ASRS)
• Vacation with 10 paid holidays per year
• Sick Leave
• Health and Dental Insurance
• Life insurance and long-term disability insurance
• Optional employee benefits include short-term disability insurance, deferred compensation plans, and supplemental life insurance.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level