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Senior Credit Risk Officer
St. Paul, MN
Job Description
Summary of Position
Our Senior Credit Risk Officer identifies Agency wide credit risk issues and advises agency management on recommended credit structures, policies, and procedures to mitigate identified risks and avoid potentially large financial losses for the Agency. The incumbent also analyzes credit structuring and mentors underwriters and program administrators in financial and risk analysis and risk mitigation methods.
Essential Job Duties
2. Conduct Specialized Analyses, Counsel, Coaching
Minimum Qualifications
About Minnesota Housing
Minnesota Housing has a national reputation as one of the finest housing finance agencies in the country and works to provide access to safe, decent and affordable housing.
It offers products and services to help Minnesotans buy and fix up their homes, and supports the development and preservation of affordable rental housing through both financing and long term asset management—all of which help stabilize the lives of some of the State’s most vulnerable citizens and build stronger communities.
For more information about Minnesota Housing go to: www.mnhousing.gov
Our Senior Credit Risk Officer identifies Agency wide credit risk issues and advises agency management on recommended credit structures, policies, and procedures to mitigate identified risks and avoid potentially large financial losses for the Agency. The incumbent also analyzes credit structuring and mentors underwriters and program administrators in financial and risk analysis and risk mitigation methods.
Essential Job Duties
- Direct Credit Policy and Perform Credit Oversight for the Agency
- Analyze credit risks with individual loans and program designs and advise management on how to best mitigate risks and achieve investment objectives related to $800 million in annual credit investments, and how to best protect the Agency’s AA+/Aa1 credit rating and $3.2 billion in total assets.
- Advise management on needed revisions to Agency Underwriting Standards
- Serve as expert management resource on all matters related to credit analysis and risk mitigation
- Serve as voting member of the Mortgage Credit Committee that reviews and approves credit structures for individual projects and programs
- Advise management on complex loan servicing and troubled development/loan solutions
- Manage unique credit arrangements that fall outside of normal programmatic administration
- Coach staff to improve their credit skills and general financial acumen
- Perform internal audits of 1st mortgage loans (MAP, HUD Risk Share, etc.) and advise management on improvements as necessary
- Review loan loss reserve methodology and outcomes and advise management on revisions as necessary
- Serve as alternative signatory for SF loan losses over $50,000
2. Conduct Specialized Analyses, Counsel, Coaching
- Conduct financial reviews of borrowers and make recommendations to staff on most appropriate credit structures
- Conduct appraisal and market study reviews and make recommendations to staff on most appropriate credit structures
- Supervise staff that assist in financial, market study, and appraisal analyses
- Build capacity of management, underwriters, and program administrators to understand the analyses of the above reviews and incorporate the findings into core underwriting work, and Agency policy and procedures
Minimum Qualifications
- Four year degree in business, accounting or finance.
- Minimum of seven years of experience with mortgage lending and credit analysis.
- Experience in reviewing income property appraisals, financial statements, and market studies (preferably multi-family).
- Good understanding of Low Income Housing Tax Credit program and other government housing subsidy and mortgage programs.
- Basic understanding of real estate law and lending.
About Minnesota Housing
Minnesota Housing has a national reputation as one of the finest housing finance agencies in the country and works to provide access to safe, decent and affordable housing.
It offers products and services to help Minnesotans buy and fix up their homes, and supports the development and preservation of affordable rental housing through both financing and long term asset management—all of which help stabilize the lives of some of the State’s most vulnerable citizens and build stronger communities.
For more information about Minnesota Housing go to: www.mnhousing.gov
Job Summary
Company
Start Date
ASAP
Employment Term and Type
Regular, Full Time
Hours per Week
40
Work Hours (i.e. shift)
8:00 am - 4:30 pm
Salary and Benefits
Minnesota Housing (a State of Minnesota agency) provides excellent benefits, including 100% employer paid health insurance for employees with very reasonable rates for family coverage, dental insurance, employer-paid life insurance, flexible spending accounts, generous vacation & sick leave, exceptional tuition reimbursement program and 11 holidays per year. Additionally we provide a defined benefit pension plan.
Required Education
Bachelor's Degree
Required Experience
7+ years
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