SVP/Director of Mortgage Insurance Fund
About The Position
This position is with HCR’s State of New York Mortgage Agency (SONYMA). This is not a civil service position, and a civil service exam is not required. Candidates must meet the minimum qualifications outlined below to be considered. NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce that represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency. The SVP/Director of the SONYMA Mortgage Insurance Fund (MIF) is an Executive-level position within HCR – the State’s integrated housing agency. The MIF’s mission is to promote the preservation and revitalization of communities across the State of New York by providing insurance on mortgage loans that encourages investment of capital by commercial and public lenders. This position is responsible for contributing to the success of HCR by actively managing its portfolio of policies in force for eligible multifamily and single-family loans. The SVP will also actively oversee and direct investment of eligible MIF reserves in its accounts to meet the mission, goals and objectives of the Agency.
Requirements
- 10 years of specialized experience
- Familiarity/experience with underwriting multifamily and single family mortgage loans
- Proven track record establishing credit risk policies and risk mitigation systems
- Excellent analytical, management and communication skills are essential
- Ability to foster collaboration between different stakeholders
- Positive, pragmatic approach to problem resolution
- Demonstrated ability and willingness to be part of, and invest in, a team
Nice To Haves
- Master’s degree preferred
Responsibilities
- Managing a professional staff
- Liaising with insured mortgagors or their servicers regarding insured mortgage loans and work-outs of distressed loans
- Supervising the underwriting of applications for mortgages insurance
- Presenting to-be insured loans to SONYMA’s Board
- Reviewing MIF commitments to insure
- Timely preparation and submission of annual budget requests
- Reviewing Treasury’s investment of MIF’s insurance reserves
- Calculating MIF’s excess balance, if any
- Working with Division of Budget on the allocation of excess balance funds and reserves as provided for in the annual State budget
- Ensuring maintenance of relationships and provision of information to Moody’s to maintain MIF’s Aa1 rating
- Chairs the Agency’s credit committee
Benefits
- Extensive benefits package including paid leave
- Excellent health, dental, vision and retirement benefits with the New York State & Local Employees’ Retirement System
- Promotional opportunity for dedicated professionals
- Work life balance benefits include a 37.5-hour work week and paid time off benefits including vacation, sick, personal days, and Federal Holidays
- Opportunity for compressed scheduling
- 12 weeks of Paid Parental Leave
- Paid Family Leave
- Opportunity for compressed/flextime scheduling
- Federal Public Service Loan Forgiveness Program eligibility
- Cash in for Wellness! This program provides you with the option of buying or renewing a health club membership of your choice or enrolling in a weight loss and or smoking cessation program, using your sick leave accruals.
- Tuition reimbursement program – for job related and non-job-related courses.
- Vacation Leave Buy-Back program – Subject to approval, every year eligible employees may exchange previously earned and accrued vacation time in return for cash compensation (at employee’s daily rate of pay at time of exchange).
- Access to Plum Benefits – savings on movie tickets, theme parks, hotels, tours, Broadway shows and more!
- Optical reimbursement program – Employees are eligible for optical, hearing aid, and podiatric expenses not otherwise covered by insurance, with a maximum aggregate amount of $650 per year, per family. Unused yearly balances may be carried over to next year for a maximum of $1,300.
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What This Job Offers
Job Type
Full-time
Career Level
Executive
