About MassDevelopment:
MassDevelopment, the state’s development finance agency and land bank, works with businesses, nonprofits, banks, and communities to stimulate economic growth across the Commonwealth.
MassDevelopment is committed to achieving three goals: stimulating business, driving economic growth, and helping communities across Massachusetts, all seen through the lens of access, diversity, equity, and inclusion. We strive to provide a work environment that celebrates difference and is free of implicit and explicit bias; an environment that recognizes the thoughts and contributions of every colleague as crucial to our collective success.
Job Location: Boston, MA
Hybrid Schedule: Minimum two days worked in-person
Reports To: SVP of Investment Banking
Hours: Exempt Full Time Salaried Position
Job Overview:
We are seeking a dynamic Senior Vice President of Housing Finance to join our Investment Banking team, reporting directly to the Senior Vice President of Investment Banking. This critical role entails overseeing all investment banking activities within the housing sector, with an emphasis on both for-profit affordable housing and non-profit housing sectors. You will be responsible for managing key relationships, securing significant deals, and providing guidance to regional staff.
Responsibilities:
- Be the go-to relationship manager for our tax-exempt bond financing clients in affordable and non-profit housing.
- Dive into project needs, explore suitable financing structures, and offer helpful advice on financing and refinancing options.
- Suggest bond structures, placement methods, and terms while assembling finance teams, managing proposals, and negotiating transactions.
- Serve as the main point of contact with administration, state officials, housing developers, housing authorities, Community Development Corporations, non-profits, investment banks, financial advisors, attorneys, lenders, and more.
- Manage the Agency’s affordable housing pipeline and volume cap allocations.
- Oversee the tracking and allocation of the Agency’s recycled volume cap.
- Lead our teams through transaction execution, making sure timelines and deliverables are met.
- Underwrite and present bond requests for Board approval with confidence.
- Review and approve legal documentation to ensure it aligns with our Agency requirements.
- Manage bond closings and provide ongoing support.
- Represent the Agency at events and make engaging public presentations.
- Market our investment banking services and drive business development efforts.
- Develop creative strategies to boost bond issuance for non-profit housing borrowers.
- Share your expertise on affordable housing transactions with our regional team members and senior management.
- Stay up to date on IRS codes, private activity bond eligibility standards, and housing regulations.
- Keep track of market trends, bond issuances, and available products.
- Ensure our database entries, internal systems, and controls are in great condition.
- Address any compliance issues related to financed projects promptly.
- Take on other duties as needed!
Qualifications:
- Understanding of workplace concepts and issues related to diversity, equity, inclusion, and anti-oppression.
- A Bachelor’s degree is required, and a Master’s degree is a plus!
- Over 10 years of experience in a similar role.
- A solid track record in leading housing tax-exempt bond projects and/or underwriting loans for commercial real estate focused on rental housing development.
- A strong background in tax-exempt financing, investment banking, housing finance, and financial advisory services is essential.
- Exceptional leadership skills!
- Excellent written, verbal, presentation, and interpersonal communication skills are a must.
- Strong organizational skills will really help you succeed.
- Experience in presentations and sales is a bonus.
- Regular travel is required.
- Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, and Outlook) is required.
- A valid Massachusetts driver’s license is also needed.
Benefits:
MassDevelopment offers a robust and generous benefits package. In addition to standard benefits, highlights include:
- Tuition Reimbursement
- Premium Medical and Dental Coverage
- Employer Contributions to Retirement Savings Plans
- 7.5% employer contribution into a 401(a) Defined Contribution Plan
- 457(b) with employer match of up to 5%
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