Candidates from the eligible list are normally appointed to vacancies in the lower pay grade positions.
Annual salary is at the start of the pay range. The current salary range is subject to change. Please confirm the starting salary with the hiring department before accepting a job offer.
A Financial Development Officer develops, secures, analyzes, and recommends financing for the development and preservation of affordable housing projects, including acquisition, new construction, rehabilitation, recapitalization and refinancing; reviews and monitors the loan development process and project operations processes; manages a loan portfolio, including resolving delinquencies, supervising or conducting collections and write-offs; provides project management expertise and technical assistance in negotiating the financing of housing projects; recommends housing policies and programs; develops and reviews contracts for approval by department management; applies sound supervisory principles and techniques in building and maintaining an effective work force; fulfills equal employment opportunity responsibilities; and does related work.
Graduation from an accredited four-year college or university and
A. Three years of full-time paid professional experience in real estate development financing, affordable housing development or financing, and/or affordable housing conduit bond financing, which includes analyzing, reviewing, and formulating recommendations regarding construction financing or complex real estate financing, or B. Three years of full-time paid professional experience in developing or implementing financing programs, which includes analyzing and evaluating financing data related to loan programs. One year of which must have been in a property development, property improvement or an urban improvement program;or
2. Two years of full-time paid professional experience with the City of Los Angeles in a class at the level of Management Analyst that provides the type of experience specified in Requirement 1.
In addition to the regular City application, all applicants must complete the Financial Development Officer Qualifications Questionnaire at the time of filing. The Financial Development Officer Qualifications Questionnaire is located within the Supplemental Questions section of the City application. Applicants who fail to complete the Qualifications Questionnaire will not be considered further in this examination, and their application will not be processed.
Applicants lacking six months of the required experience may file for this examination. However, they cannot be appointed until the full experience requirement is met.
A valid California driver's license is required. Applicants will be disqualified and not eligible for hire if their record within the last 36 months reflects three or more moving violations and/or at-fault accidents, or a conviction of a major moving violation (such as DUI).
Upon appointment, a Financial Development Officer will be required to furnish an automobile, properly insured, for use in City service. Mileage will be paid on the basis of established rates.
Experience with federal and state housing financing programs and knowledge of tax credit syndication is highly desired.
For qualifying work experience gained outside of the City of Los Angeles, the term "professional experience" applies to positions that required possession of a degree from an accredited four-year college or university in order to obtain that position. Therefore, to be considered "professional," non-City qualifying experience must be gained in positions after obtaining a four-year degree.
Please note that qualifying education must be from a college or university accredited by a City of Los Angeles recognized agency. A list of approved accrediting agencies can be found at http://per.lacity.org/Accredited%20Institutions%2008-21-08.pdf.
Candidates completing the exam process will be contacted by the Personnel Department to provide required proof of qualifying degree.
WHERE TO APPLY & APPLICATION DEADLINE
Applications will only be accepted on-line. When you are viewing the on-line job bulletin of your choice, simply scroll to the top of the page and select the "Apply" icon. On-line job bulletins are also available at https://www.governmentjobs.com/careers/lacity for Open Competitive Examinations.
Applicants are urged to apply early to ensure you have time to resolve any technical issues you may encounter.
Applications and Qualifications Questionnaires will only be accepted online on the dates listed below:
From 8:00 am Friday, March 20, 2020 to 11:59 pm, Thursday, April 2, 2020 Future dates to be determined
The examination may close without prior notice at any time after a sufficient number of applications have been received. Filing periods may change without prior notice or additional dates may be added, as needed, at a later date. For administrative purposes, filing will close periodically and reopen on the dates noted in the "Application Deadline" section of this bulletin.
In accordance with Civil Service Rule 4.2, all applicants who apply may not be tested in this examination. To meet anticipated hiring needs, only a limited number of qualified applicants will be invited to participate in the selection process in the following order: 1) Los Angeles City Promotional applicants who meet the minimum requirements. You must have received a regular appointment to a City position or be on a reserve list to apply for this examination as a promotional candidate; 2) Applicants currently employed by the City of Los Angeles on a part-time or exempt basis who meet the minimum requirements; 3) Remaining applicants who meet the minimum requirements in sufficient numbers to meet hiring needs in the order that applications were received or by qualifications review. Applications submitted during the filing period may be kept on file in the event that additional applicants need to be tested to meet hiring needs.
Should a large number of qualified candidates file for this examination, each candidate's qualifications for the position of Financial Development Officer may be evaluated based on the candidate's Qualifications Questionnaire. Those candidates considered possessing the greatest likelihood of successfully performing the duties of a Financial Development Officer, based solely on the information submitted for qualifications review, will continue in the selection process.
The examination will consist of a qualifying technical exercise, an advisory presentation, and interview. In the qualifying technical exercise, which will consist of written technical problems related to the duties and responsibilities of a Financial Development Officer, candidates may be examined in the following competencies: Analytical Ability, Self-Management, Written Communication, Mathematics, Industry Knowledge, and other necessary skills, knowledge and abilities. Candidates may anticipate that PCs (personal computers) will be made available to type their exercise responses. Candidates will be notified later by e-mail of the time and location of the qualifying technical exercise, which will be held in a single half-day session on SATURDAY, MAY 30, 2020, in Los Angeles.
Passing Score for Qualifying Technical Exercise
The passing score for the qualifying technical exercise will be determined by Personnel Department staff after the qualifying technical exercise is administered. Consideration will be given to the number of candidates taking the test and the existing and anticipated number of vacancies, such that there are a sufficient number of eligibles on the list to satisfy current and future vacancies for the next two years. Therefore, the passing score for the qualifying technical essay may be set either above or below 70%.
Candidates must achieve a passing score on the qualifying technical exercise, and meet minimum qualifications in order to be invited to the interview.
The examination score will be based entirely on the interview. In the interview, emphasis may be placed on the adequacy of the candidate's training and experience as they provide the candidate with the background needed to perform the duties of a Financial Development Officer, including the following competencies: Analytical Ability, Self-Management, Interpersonal Skills, Credibility, Written Communication, Mathematics, and Industry Knowledge including knowledge of the uses and capabilities of computer based financial analysis tools such as spreadsheet database and software, including Microsoft Excel, and basic financial calculators; the affordable housing development financing components including tax credits, loan underwriting, title reports, environmental reports, appraisals, and sources of funding; affordable housing asset management and compliance including affirmative marketing, lease-up, occupancy compliance, and residual receipts analysis; the conventional financing process including applications, verifications, underwriting, and appraisals; major Federal and State affordable housing lending programs such as the Low Income Housing Tax Credits and HOME Investment Partnerships Program (HOME) including program requirements and regulations; the basic components of a promissory note, deed of trust, and loan agreement; financial documents such as audited financial statements, rent rolls, appraisals, titles, loan agreements, and affordability covenants; financing requirements for the rehabilitation of affordable housing including capital needs assessments, relocation, and recapitalization requirements; mathematical concepts related to real estate financing such as amortization, cash flow, loan to value ratio, debt to income ratio, net present value, and rate of return; and other necessary skills, knowledge, and abilities.
Additional job analysis information can be obtained by going to http://per.lacity.org/index.cfm?content=jobanalyses and clicking on Competencies under Financial Development Officer.
As part of the interview, candidates will be required to make a presentation to the interview board about an issue related to financial development. While the interview raters will not assign a separate score to the presentation, the interview raters will consider the appropriateness, practicality, and effectiveness of the presentation in their overall evaluations of the candidate's qualifications. Candidates should expect the interviewers to discuss the oral presentation with them during their interviews.
Specific information regarding the presentation which will be made during the interview will be e-mailed to those candidates invited to participate in the interview.
Candidates will be notified by e-mail of the date, time, and location of the interview and presentation, which will be held in a single session in Los Angeles.
This examination is based on a validation study, and as provided by Civil Service Commission Rule 4.20, the written test will not be subject to candidate inspection.
You may take the Financial Development Officer examination only once every 24 months under this bulletin.
Applications are accepted subject to review to ensure that minimum qualifications are met. Candidates may be disqualified at any time it is determined that they do not possess the minimum qualifications stated on this bulletin.
As a covered entity under the Fair Employment and Housing Act and Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and upon request, will provide reasonable accommodations to ensure equal access to its programs, services, and activities. To request a disability accommodation, please complete the Disability Accommodation Form within 14 calendar days of the submittal of the City application. The Disability Accommodation Form can be obtained at http://per.lacity.org/exams/verify_disability.pdf.
The promotional list will ordinarily be used ahead of the open competitive list. However, if open competitive candidates receive a higher score, without military credits, than the highest available promotional candidate, after adding 0.25 of a point seniority credit for each year of service, the Civil Service Commission, upon request of the appointing authority, may approve certification of such open competitive candidates ahead of the promotional candidates.
In conjunction with Civil Service Rules, applicants who have received a regular appointment to a City position or are on a reserve list will be considered Promotional candidates while all other applicants will be considered Open candidates.
Your rank on the eligible list may change as scores of candidates from other administrations of the examination are merged onto one list.
A final average score of 70% in the interview portion of the examination is required to be placed on the eligible list.
You must have received a regular appointment to a City position or be on a reserve list to file on a promotional basis.
If you receive and accept an offer of employment to a regular position with the City of Los Angeles, your employee benefit coverage (including health and dental coverage as well as life insurance) will commence approximately six weeks after your original regular appointment. Not all positions in the City receive benefit coverage; you should inquire regarding the availability of employee benefits prior to accepting a position. All City employees are required to be Disaster Service Workers.
THIS EXAMINATION IS TO BE GIVEN BOTH ON AN INTERDEPARTMENTAL PROMOTIONAL AND AN OPEN COMPETITIVE BASIS
The City of Los Angeles does not discriminate on the basis of race, religion, national origin, sex, age, marital status, sexual orientation, gender identity, gender expression, disability, creed, color, ancestry, medical condition (cancer), or Acquired Immune Deficiency Syndrome.