HOUSING AUTHORITY OF THE COUNTY OF LOS ANGELES
CAPITAL FINANCE AND ASSET MANAGEMENT
$57,480 - $81,456 ANNUALLY
The Community Development Commission/Housing Authority of the County of Los Angeles (CDC/ HACoLA) is a dynamic and innovative local government agency created in 1982 by the Los Angeles County Board of Supervisors. The agency is an industry leader in four core service areas: affordable housing, community, economic, and housing development. Funded primarily with federal grants, the CDC/HACoLA prides itself on sponsoring new solutions to local issues, and forming partnerships with private and public agencies. To learn more about the agency's work in support of its mission to Build Better Lives and Better Neighborhoods, please visit www.lacdc.org.
Under general supervision of the Manager, Assistant Manager and Supervisor, the Analyst II provides staff assistance in the Capital Finance and Asset Management Unit. The ideal candidate will provide assistance in the management of the Division's loan portfolio by preparing reports, providing loan servicing duties, monitoring contracts for compliance, and conducting credit analysis and underwriting of various real estate transactions types including but not limited to re-syndication, partnership changes, multifamily bond transactions and multifamily and single-family finance. A vast mainstream of assignments consists of affordable multifamily real estate transactions.
Essential Job Duties
The below statements are intended to describe the general nature and scope of work being performed by this position. This is not a complete listing of all responsibilities, duties and/or skills required. Other duties may be assigned.
Conduct analysis for multifamily Low-Income Housing Tax Credit (LIHTC) properties including present value calculations, multi-year pro forma trending, basic loan refinancing, and comparison of future property projections with past performance. Review proposals including acquisition/rehabilitation, disposition, repositioning planning, change in ownership structure, reinvestments, debt restructuring, or Limited Partnership exits.
Work with developers, attorneys, lenders and limited partners in the negotiation of deal points for the preparation of loan agreements and ancillary documents in order to close various transactions types, including, but not limited to, restructuring, refinancing, resyndications, change in use, and assignment and assumption of multifamily properties.
Monitor, service and manage the affordable housing loan portfolio, including, but not limited to, subordinations, payoff demands, title reconveyances, and foreclosure proceedings.
Reviews loans made by the Division on an annual basis to insure that the terms of each loan are being met, proper reports are being filed by borrowers, and residual receipts are being properly calculated. Maintains and updates all loan files.
Analyze audited financial statements to determine the financial position and compliance with regulatory requirements. Follow-up on overdue residual receipts submittals and prepare monthly reports to executive management regarding non-compliance. Develop systems to improve borrower responsiveness.
Review annual tenant income and rent information (rent rolls) submitted by project owners/managers to ensure compliance with applicable affordability and operating covenants.
Conducts studies; compiles and analyzes data. Prepares correspondence and reports, completes a variety of forms and applications. Develops and maintains loan record management system.
Provide assistance in the preparation of recommendations, staff reports, annual compliance reports, Requests for Proposals or Qualifications, policies and procedures, and other tasks.
EXPERIENCE AND EDUCATION
Any combination of education and experience that provides the required knowledge and skills is qualifying. A typical way to obtain the knowledge and skills would be:
A minimum of two (2) years of recent, paid and progressively responsible professional experience involving asset management, debt refinancing, financial analysis, federal, state and local regulatory programs, and/or real estate development.
Graduation from an accredited college or university with a Bachelor's Degree in public or business administration, finance, real estate or closely related field; a Master's Degree in one of the fields listed above may be substituted for one year experience.
Knowledge of government funding regulations:
federal, state and local laws, codes and other regulations related to housing programs.
Experience in affordable housing, accounting, asset management, mortgage banking lending, and escrow activities.
Financial analytical skills with a good understanding of affordable housing finance and development, low-income housing tax credits, tax-exempt Mortgage Revenue Bonds, real estate accounting, and development and operating budgets.
Solid written and oral communication skills, including the preparation of reports, briefing papers and correspondence.
Excellent organizational, coordination, problem solving and time management skills.
Solid information technology skills, including a working knowledge of all Microsoft Office applications (i.e., Outlook, Word, Excel, PowerPoint).
To receive credit for a four-year college or university degree or Master's degree, you must attach the following documents to the application at the time of filing:
- Copy of College or University Degree or official transcripts that indicate graduation.
Possession of a valid California Driver's License and an acceptable driving record are required.
Human Resources staff will notify all applicants of their application status via email. You are responsible for monitoring correspondence from this office by checking your e-mail account in a timely manner.
Successful candidates must complete a thorough background investigation, including a fingerprint search and physical evaluation prior to appointment.
A resume cannot be substituted for any section of the online application and/or supplemental application. If your application is incomplete, it may be rejected at any stage of the examination process. Work experience must be supported by the experience in your application. "See resume" is not an acceptable answer.
Those applicants whose qualifications most closely meet the needs of the Division, will be invited for the examination process.
OPEN UNTIL FILLED. APPLY IMMEDIATELY, POSITION MAY CLOSE WITHOUT PRIOR NOTICE.