Director of Tax Credit-Asset Management

New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.

A Civil Service exam is not required for this position. 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 which 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 Office of Housing Preservation manages HCR programs that maintain and enhance the state’s portfolio of existing affordable housing. We enforce the Rent Laws in New York State for over 900,000 housing units, while providing federal and state rental assistance to assist more than 45,000 families across the state. We also monitor 130,000 low-income housing units financed with federal and state resources and provide grant funding to help homeowners and tenants save energy.

The Statewide Asset Management Unit (SAMU) is responsible for the asset management and compliance monitoring of the Agency’s existing housing loan portfolio. This portfolio has been financed under various loan and subsidy programs under Federal and State housing programs including the Low-Income Housing Tax Credit; Housing Trust Fund; HOME, RAD, Mitchell-Lama, and various other State housing programs

Job Summary:

The Director of Asset Management – Tax Credit will be responsible for the supervision of all aspects of the OIHM’s Statewide Asset Management Unit (“SAMU”), including the activities of approximately twenty-five staff engaged in the monitoring and oversight of more than 1,500 affordable housing developments, with approximately 70,000 assisted units, across NY State. The AMU portfolio includes all projects financed under any Housing Trust Fund Corporation (“HTFC”) program, the federal Low-Income Housing Tax Credit (“LIHTC”) and HOME programs, various Office of Community Renewal (“OCR”) programs and the Neighborhood Stabilization Program. In addition, the Co-director supervises HCR’s oversight of the Manufactured Homes Program (“MHP”) for the State’s 1,875 mobile parks containing more than 87,000 individual sites. 

The Director of Asset Management – Tax Credit will be part of the Office of Housing Preservation’s (“OHP”) leadership team. As such, they are expected to participate in, and to lead, inter-office initiatives aimed at identifying and implementing best practices, increasing performance and productivity, and enhancing staff morale. The Co-Director will also work with OIHM’s management team to develop integration and cross-training initiatives focused on reducing costs, eliminating redundancies, and otherwise meeting the changing needs of the agency, our partners, and our program participants. 

The Director of Asset Management – Tax Credit must be familiar with all agency rules and policies governing the AMU’s various programs, as well as any applicable State or Federal laws, rules, or regulations (and any amendments or modifications thereto) and is responsible for ensuring their enforcement throughout the AMU portfolio.

The Director of Asset Management – Tax Credit must also represent the OIHM at intra-agency meetings, as well as at external meetings with elected and appointed officials, project owners and developers, other agency officials and industry group leaders.

The Director of Asset Management – Tax Credit will report directly to the VP of HCR’s Statewide Asset Management Unit and will directly supervise the Assistant Director of AMU, the AVP’s of Asset Management. The Director of Asset Management Tax Credit and Assistant Director Tax Credit will share direct supervision of the site director for each of AMU’s four regional offices. 

Specific Duties Include, but are not Limited to, the Following: 

• Oversee the allocation and deployment of SAMU staff and resources across the agency’s four regional offices. 

• Assist in the expansion of HCR’s integration efforts of its 4%, 9%, and Mitchell-Lama teams, focusing on eliminating redundant program requirements, streamlining asset management policies & procedures, and identifying and expanding cross-training opportunities. Supervise reorganizing, directing and hiring of an integrated Asset Management team.

• Keep current with all legal, regulatory and program requirements affecting SAMU’s existing portfolio; notify HCR program staff, project owners and managers of any changes to these requirements, as well as any relevant compliance training opportunities. 

• Work with senior OIHM staff to develop policies and procedures for effectively monitoring projects entering SAMU’s portfolio under any new program. 

• Review and approve project loan payoffs, management agent changes, ownership changes, and disbursements from HCR held reserve for replacement and tax and insurance escrow accounts.

• Coordinate Asset Management’s Internal Control oversight.

• Coordinate periodic assessment of the SAMU portfolio, aimed at identifying and capitalizing on preservation opportunities and addressing threats to any project’s physical and financial viability. 

• Work with OIHM senior staff to expand HCR’s integration efforts, focusing on eliminating redundant program requirements, streamlining asset management policies & procedures, and identifying and expanding cross-training opportunities.

• Coordinate and direct SAMU’s preservation efforts to achieve the goals of the Governor’s 5-year housing plan part II, targeting distressed affordable housing assets, as well as the continuation of HCR’s existing preservation programs, such as the Preventative Troubled Asset Program and the Imperiled Project Program.
• Work with OHP’s leadership team to revamp the staffing and succession plan. 

• Coordinate SAMU’s responses to any program audit, as well as SAMU’s implementation of any recommendations resulting from such audit. 

• Work with HCR program and legal staff on the review of any proposed legislation that might affect the AMU portfolio or any related program. 

• Other duties include ensuring the Agency's website is updated by the Compliance unit and that all communications with FEHO, Legal, Treasury, Accounting and other Agency units are maintained frequently and adequately.

Qualifications:

• Educational Requirements:
  • Bachelor’s degree with a minimum of eight years of relevant professional experience.
  • Substitution Options:
    • Four additional years of specialized experience may substitute for the bachelor's degree.
    • An associate’s degree combined with two additional years of specialized experience may substitute for the bachelor's degree.
    • A J.D. (Juris Doctor) or master’s degree may substitute for one year of specialized experience.
    • A Ph.D. may substitute for two years of specialized experience.
• Communication and Organizational Skills:
  • Exceptional written and verbal communication skills, with a proven ability to clearly and effectively convey ideas and information.
  • Demonstrated time management skills, with the ability to effectively prioritize tasks, manage multiple projects simultaneously, and consistently meet deadlines.
• Professional Attributes:
  • A proactive, solution-oriented approach paired with a strong work ethic and commitment to excellence.
  • Eagerness and enthusiasm for acquiring new skills and adapting quickly to evolving professional environments.
• Creative and Quality-Focused Mindset:
  • A willingness and ability to innovate and explore creative solutions, continuously pushing conventional boundaries.
  • Commitment to maintaining high-quality standards, ensuring that all work adheres rigorously to established style guides, standards, and professional best practices.

This job description is not intended to be all inclusive and employee will be expected to perform other reasonably related duties as assigned.