Senior Investment Officer-NMTC

Background

Massachusetts Housing Investment Corporation (MHIC) is an innovative financier of affordable housing and community development throughout New England, providing financing that would not otherwise be available to neighborhoods most in need. For over 32 years, MHIC has invested more than $3.4 billion to help create and sustain healthy, equitable communities where people, businesses, and organizations can thrive. Supported by an experienced and dedicated staff, MHIC excels in problem solving, with rigorous underwriting, attentive asset management, and timely reporting to investors. To date, MHIC has financed over 680 developments, representing more than 26,500 homes and 7.3 million sq. ft. of commercial space. Visit www.mhic.com or LinkedIn for more information.

Summary

Massachusetts Housing Investment Corporation (MHIC) seeks a Senior Investment Officer-NMTC to join the Community Investment team. The Senior Investment Officer-NMTC is responsible for the marketing, acquisition and oversight of a specialized portfolio of loan and equity products offered by MHIC, including pre-development, acquisition, construction, and bridge loan financing, and Low-Income Housing Tax Credit, historic tax credit, New Markets Tax Credit, and Healthy Neighborhoods Equity Fund equity transactions – with an emphasis on the New Market Tax Credit program. This encompasses negotiating, underwriting, closing and the administration of the assigned portfolio of projects. This position will report to the Director of Community Investment. The Senior Investment Officer-NMTC will have considerable interaction with a broad range of people outside the organization, and with staff and the board. The ideal candidate will demonstrate a superior level of investment and lending proficiency, a passion for MHIC’s mission and a level of energy, enthusiasm, and positivity.

Responsibilities

Essential Functions:

• Build relationships and partnerships with external entities to identify new projects.
• Develop and nurture a robust New Market Tax Credit pipeline for tax credit deployment and upcoming NMTC applications.
• Assess potential projects relevance, feasibility, and applicability to MHIC goals and business strategy.
• Prepare responses to developer RFPs including negotiating business debt and/or equity terms, capital structures, and pricing to secure investment.
• Review loan and equity applications and perform due diligence (including review of appraisals, markets studies, capital needs assessments, and environmental reports) on the subject property.
• Perform credit analysis of financial statements for borrowers, guarantors, general partners, property managers and general contractors.
• Prepare loan and investment proposals, including relevant financial models and sensitivity analyses for presentation to the appropriate governing Committee and Board of Directors.
• Work with borrowers, general partners, attorneys, consultants, accountants and other lenders to close transactions in a timely manner and with legal documentation acceptable to MHIC.
• Ensure proper administration of loan credits by reviewing monthly construction requisitions, keeping credit files up-to-date, ensuring risk ratings are accurate and monitoring loan repayments.
• Coordinate with Asset Management during project development through stabilization and first year tax and
• Coordinate financial management and transactions with Finance Department staff.
• Consult with Asset Management colleagues on aspects of projects pertaining to their portfolios.
• Ensure loan and equity investments are in compliance with MHIC policies and procedures and applicable state and federal requirements.
• Track national and local developments to ensure maintenance of current expertise and to propose potential pursuit of new products.
• Perform program management and development tasks where assigned, such as work related to NMTC, FA and CMF applications, program design and administration.
• Lead the completion of the annual NMTC application including identifying strategy, assembling data, and securing necessary support.
• Contribute to strengthening MHIC’s NMTC practices with the goal of annually winning awards, implementing industry-leading strategies and maintenance, ensuring compliance and improving data collection and analysis.

Additional Responsibilities:

• Perform site inspections as necessary.
• Provide technical assistance to clients to ensure program compliance and success.
• Maintain close contact with the Construction Liaison Officer to assess whether projects will be completed on time and within budget.
• Maintain close contact with Community Impact Officer to ensure projects achieve the highest possible MBE and minority worker participation.
• Originate new business by calling on prospects and attending industry functions.
• Work with community groups and developers to explain MHIC’s underwriting policies and procedures and to provide advice and counsel.
• Collaborate with public agencies, permanent lenders, and other financing entities involved in the affordable housing and community development industry.
• Mentor MHIC staff in areas of expertise.
• Work with executive staff and other senior officers to develop business strategy and accompanying corporate policies and directives.
• Respond to questions and provide technical assistance to a wide range of external contacts.
• Present work at conferences and workshops.
• Take initiative and exemplify motivation to work towards MHIC’s mission.

Requirements

Qualifications:

• Knowledge of and experience with NMTC deployment, community development finance tools and other CDFI fund programs.
• College degree in business, finance, planning or related field required; graduate degree preferred.
• 7-10 years of experience in commercial or real estate lending, affordable housing or a related field. Experienced in financial analysis. Banking experience and credit training is desirable.
• Minimum of 3 years’ experience specifically in community development or affordable housing finance.
• Excellent interpersonal skills and the ability to communicate effectively in person and in writing with colleagues and external partners representing a wide range of disciplines and backgrounds.
• Ability to manage and effectively prioritize simultaneous and competing activities and demands, remain organized and meet deadlines.

Compensation and Benefits

MHIC offers a professional, supportive and hybrid working environment with competitive salary, generous medical coverage, vision and dental insurance, retirement benefit with up to 8% employer match, legal services and commuter benefits, plus educational and training opportunities.

Salary: $109,000-$159,000 per year. Final compensation based on experience.

How to Apply

Please submit a cover letter, detailing your qualifications for this position, along with a resume to: [email protected] with the job title included in the subject line. Principals only. No phone calls, recruiters, or staffing firms please!

 MHIC is an Equal Opportunity Employer. Diversity is at the core of MHIC’s vision, mission, and values. We’re committed to creating an inclusive work environment that reflects the communities we serve and where everyone feels empowered to be their full, authentic selves. Our staff represents many different cultures, backgrounds, and viewpoints.