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
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
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
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.