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HOUSING FINANCE ANALYST

ANALYST II

Housing Bonds & Asset Management Unit

Housing Investment and Finance Division

Regular Position

Imagine yourself working for a dynamic and innovative County agency with a high-profile role as a core participant in Los Angeles County's broad-ranging efforts to address the region's affordable housing and homelessness crises. The Los Angeles County Development Authority (LACDA) administers federal, state, and local funds that are made available to for-profit and nonprofit housing developers for the development and preservation of affordable and special needs housing. The LACDA also administers federal and local funds to support low- and moderate-income homeownership, single and multifamily home rehabilitation and sound mitigation, and various community and economic development projects and initiatives. The agency works hand-in-hand with multiple Los Angeles County departments and other cities in Los Angeles County in ongoing coordination across a wide range of development initiatives. Funded primarily with federal grants, the LACDA 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.lacda.org.

Under the general supervision of the Asset Management Supervisor, the Housing Finance Analyst performs complex assignments related to the unit’s growing portfolio of housing-related loans, grants and/or bond issuances. The ideal candidate will help 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.  This position will also assist in the unit’s processes for issuing multifamily housing bonds, monitoring supportive service requirements, and writing staff reports and County Board Letters.  The Housing Finance Analyst may also assist with other administrative duties within the unit, such as helping with procurement duties or assisting with data system improvements and recommendations. 

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.

Under general supervision:

• Conduct analysis of LACDA loan portfolio including but not limited to 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.
• 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 ensure 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. 
• Assist with underwriting and administrative tasks associated with the issuance of multifamily bonds.
• Review tenant income and rent information on existing and proposed projects to ensure compliance with applicable affordability and operating covenants.  
• Conduct studies; compile, maintain, and analyze data; and prepare correspondence and reports.
• Assist the development of new processes and information management systems that improve accuracy, efficiency and performance.  
• Prepare recommendations, staff reports, annual compliance reports, Requests for Proposals or Qualifications, policies and procedures, and other tasks. 

JOB COMPENTENCIES

• 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.
• Highly developed written and oral communication skills and experience in the preparation of staff reports, briefing papers, and correspondence.
• Excellent organizational, coordination, problem solving, and time management skills, including planning and managing multiple projects.
• Ability to be proactive and capable of resolving complex problems expeditiously.

QUALIFICATIONS

• Must have a minimum of three (3) 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.  A strong preference is given to candidates who have direct experience working with affordable multifamily real estate developments with federal tax credits and/or other federal or local housing finance sources.     
• Must have a four-year college or university degree in in public or business administration, accounting, finance, real estate or closely related field. A Master’s degree in one of these fields may substitute for one year of experience.  
• Must have a high-level of proficiency using Microsoft Office Suite.

DESIRABLE QUALIFICATIONS

• Master’s degree in in public or business administration, accounting, finance, real estate or closely related field. 
• Direct experience working in affordable and permanent supportive housing, accounting, residential asset management, mortgage banking lending, and escrow activities. 
• Experience working in the public sector in a capacity relevant to this position.

To receive credit for a four-year college or university degree or Master's degree, you must attach a Copy of College or University Degree or official transcripts that indicate graduation.

Please include a resume and cover letter with your application but note that a resume cannot be substituted for any section of the online application and/or supplemental application. Work experience must be supported by the experience in your application. "See resume" is not an acceptable answer.

Three (3) professional references must be included in the "Reference" section of the application at the time of filing.

"The term “Affordable Housing” refers to multifamily rental properties that have any combination of local, state or federal financing subsidies, land-use requirements, or bond financing, and tax credits.  For single family detached homes and condos, the term refers to units that have financial assistance or land use requirements to sell homes at prices affordable to low- and moderate-income families.  In all cases, there are deed restrictions, land use permits, and or regulatory agreements limiting the rental or sales prices matched with income-eligibility requirements for tenants or buyers."

NOTE: Salary compensation is Dependent on Qualifications (experience, education, skills and abilities).  Initial salary placement is generally made at the beginning to mid-point of the posted range. New hires are not eligible to start at the maximum of the posted range. 

Successful applicants must complete a background investigation, Live Scan fingerprint search, pre-employment physical and drug screening prior to appointment. 

To be considered, all qualified applicants are encouraged to apply online. In the Work Experience section of your online application clearly describe your experience as it relates to the qualifications. Failure to provide this information may result in eliminating your application from further consideration.

For each job held, give the name and address of your employer, your job title, beginning and ending dates, and description of work performed. 

Please answer ALL supplemental questions completely.  If your application is incomplete, it may be rejected at any stage of the examination process. 

Please include a resume and cover letter with your application but note that a resume cannot be substituted for any section of the online application and/or supplemental application. Work experience must be supported by the experience in your application. "See resume" is not an acceptable answer. 

Three (3) professional references must be included in the "Reference" section of the application at the time of filing. 

To receive credit for a four-year college or university degree or Master's degree, you must attach a

Copy of College or University Degree or official transcripts that indicate graduation.

Human Resources staff will notify all applicants of their application status via email. Important notifications including invitation letters will be sent electronically to the email address provided. You are responsible for monitoring correspondence from this office by checking your email account in a timely manner.

A first review of applications will be completed upon receiving a sufficient number of qualified applications.  Those applicants whose qualifications most closely meet the needs of the position will be invited for the examination process. 

DEADLINE:  May 17, 2021 at 5:00 pm.   

PLEASE SUBMIT YOUR APPLICATION IMMEDIATELY, THIS RECRUITMENT IS SUBJECT TO CLOSE AT ANY TIME AND WITHOUT NOTICE.
   
RECRUITMENT NUMBER: 21022