Assistant Commissioner of Credit & Valuation, Office of Policy & Strategy

Assistant Commissioner Of Credit & Valuation, Office Of Policy & Strategy

About The Agency : The New York City Department Of Housing Preservation And Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city's neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love. - We maintain building and resident safety and health - We create opportunities for New Yorkers through housing affordability - We engage New Yorkers to build and sustain neighborhood strength and diversity. HPD is entrusted with fulfilling these objectives through the goals and strategies of "Housing Our Neighbors : A Blueprint For Housing And Homelessness," Mayor Adams' comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city's history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City's complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.

HPD's Office Of Policy And Strategy (OPS) leverages its expertise to guide and support HPD and its many offices in their efforts to deepen their impact, optimize their efficiency, and become more data-driven, compliance-attentive, climate-adaptive, and mission-focused. To do so, OPS collaborates with staff and senior leadership from across the agency, as well as with representatives from other Agencies. OPS carries out its work through delivery of rigorous data, policy, and financial / credit analysis; technical and statistical research; compliance awareness and adherence; and techniques in program visioning and design to all of HPD's areas of practice. The Assistant Commissioner will report to and serve as a senior advisor to the Deputy Commissioner For Policy & Strategy on matters at the intersection of housing finance and policy and will oversee the two teams in the Division Of Credit & Valuation, Credit & Special Underwriting (C&SU) and Acquisition & Land Valuation (Appraisals). The C&SU team is responsible for reviewing and providing feedback on HPD projects that receive City Capital loans and / or discretionary tax exemptions, completing special underwriting feasibility and cost / benefit analyses and conducting complex financial analyses to support agency policy initiatives. The Appraisals team is responsible for completing appraisals to determine the value of City-owned land and development rights prior to disposition, and for reviewing external appraisals of privately-owned properties used in the development of affordable housing through HPD's various affordable housing programs. The Assistant Commissioner will work closely with the teams from across OPS and the Office Of Development (OOD) as well as engage with the agency's senior leadership. They will work closely with both the Deputy Commissioner and the members of the Division on a daily basis in a rigorous, growth-oriented and supportive environment. The Assistant Commissioner will :

• Lead the C&SU and Appraisals teams, building and maintaining a culture of rigor, collaboration and inclusivity;
• Oversee the work of Credit & Valuation, ensuring that all of the team's work, including but not limited to appraisals, credit reviews, and complex financial models is highly accurate, responsive and timely, guides the responsible and efficient investment of the city's financial resources, creates stability within and mitigates risks to HPD's affordable housing portfolio, and promotes programmatic and policy decisions that protect the physical and financial stability of the housing stock and align with its mission;
• Develop staff expertise, provide ongoing professional development, and ensure the team remains at the forefront of industry best practices;
• Collaborate internally and externally to develop guidance and policies that improve risk management and investment strategies in the context of underwriting capital and other projects;
• Collaborate internally and externally to ensure the agency has the appropriate systems in place to monitor the physical and financial stability of the City-backed projects; and
• Provide advice and counsel to the Deputy Commissioner, other teams within OPS, and other senior agency leaders on a wide range of housing finance topics.

Preferred Skills :

We serve New York City best, when our team mirrors the diversity and varied strengths of the population we serve. We strongly encourage people of all backgrounds to apply. Note : This position is eligible for remote work up to two days per week, pursuant to the Remote Work Pilot Program agreed to between the City and DC37.