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Investment Officer

CITIZENS HOUSING & PLANNING

This is a Full-time position in Boston, GA posted February 19, 2021.

n n nn Massachusetts Housing Investment Corporation (MHIC) nn nn Job Description nn nnMassachusetts Housing Investment Corporation (MHIC) seeks a skilled and motivated professional to join our team as an Investment Officer.nn nnMHIC is a leading private investment and lending institution that specializes in financing affordable housing and community development throughout New England.

Supported by an experienced and dedicated staff, MHIC has been able to take on complex projects, with rigorous underwriting, attentive asset management, and timely reporting to investors.nn nnMHIC was created as a non-profit in 1990 by a consortium of banks in partnership with community leaders, in order to fill a critical gap in meeting the credit needs of affordable housing developers.

We provide financing that would not otherwise be available to underserved communities.

We seek to extend the impact of that financing for the broadest possible community benefit.nn nnMHIC initially focused on attracting investor capital for Low Income Housing Tax Credit (LIHTC) properties, and assembling a loan pool for construction and acquisition lending.

We expanded our product lines in 2003 to include the New Markets Tax Credit (NMTC) program, and again in 2008 with the Neighborhood Stabilization Loan Fund (NSLF).

In 2014, we launched the Healthy Neighborhoods Equity Fund (HNEF) to provide patient capital for transformative mixed-use projects in low
– and moderate-income communities.

MHIC has deployed over $3 billion of capital to support its financing activities to over 600 projects throughout New England.nn nnThe Investment Officer is a member of Development Department at MHIC.

They report to the Director of Investment.

They are also accountable to relevant Committees and the Board of Directors for proposals presented. nn nn Key Responsibilities nn nn The Investment Officer will be expected to: nn Assess potential projects’ relevance, feasibility, and applicability to MHIC goals and business strategy Prepare responses to developer RFPs, including negotiating business terms, capital structures, and pricing Perform credit analysis of financial statements for borrowers, guarantors, general partners, property managers and general contractors Prepare loan and investment proposals, including developing financial models and sensitivity analyses for presentation to the appropriate MHIC Committee and Board of Directors Work with borrowers, general partners, attorneys, consultants, accountants and financing partners to close transactions in a timely manner and with legal documentation acceptable to MHIC Ensure efficient and effective transfer of loan credits to loan servicing/administration and provide oversite of the review and approval of monthly construction requisitions, credit files, and loan repayments Maintain contact with the Construction Liaison Officer to ensure projects are completed on time and within budget, and to collaborate on solutions to challenged projects  Coordinate with the Asset Management Department during project development through stabilization and first year tax and audit Respond to inquiries from Asset Management colleagues regarding projects in their portfolios, and Coordinate financial transactions with Finance Department staff.

Participate in internal working groups to respond to applications for financing from the CDFI Fund and other opportunities as they arise, and Take initiative to work towards MHIC’s mission.

nn Our Ideal Candidate nn nnOur ideal candidate will be a thoughtful and thorough underwriter who is also passionate about and able to market our products and services.

They will be an entrepreneurial and mission-driven team player who can communicate effectively in multiple venues.

The ideal candidate will be flexible and enjoy collaborating with internal and external partners.nn Ability to formulate clear business terms in writing and to review complex documents, including legal documents Minimum of five years’ experience in commercial or real estate lending, affordable housing or a related field Direct lending experience, business lending experience and credit training are preferred Understanding of affordable housing and community development finance is preferred Excellent organizational skills and ability to meet deadlines Bachelor’s degree in business, finance, planning or related field; with a Master’s degree preferred; additional work experience can substitute for degrees, and Application Instruction nn The Selection Process nn nnPlease submit a cover letter, detailing your qualifications for this position, along with a resume to: resumes@mhic.com with Investment Officer included in the subject line.

No phone calls or letters please.

All applications will be reviewed as they are received.nn nnMHIC offers a professional, supportive working environment with competitive salary, health and retirement benefits, plus educational and training opportunities.

Benefits include incentive compensation, a technology purchase opportunity, MBTA pass, subsidized fitness membership, and a generous earned leave policy.nn nnThis position is open as of February 8, 2021, and will be filled as soon as the appropriate candidate is selected.

For more information, see www.mhic.com .

nn nn MHIC is an Equal Opportunity and Affirmative Action Employer.

We encourage applications from candidates from diverse backgrounds and cultures.

nn nnSupport CHAPA’s efforts to keep making a difference in our communities.nn n n