SVP​/Director of Mortgage Insurance Fund

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New York, NY, US

Salary Range: $ To $ Annually

New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase home ownership throughout New York State.

This position is with HCR’s State of New York Mortgage Agency (SONYMA). This is not a civil service position, and a civil service exam is not required. Candidates must meet the minimum qualifications outlined below to be considered.

NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce that represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.

BACKGROUND

The SVP/Director of the SONYMA Mortgage Insurance Fund (MIF) is an Executive-level position within HCR – the State’s integrated housing agency. The MIF’s mission is to promote the preservation and revitalization of communities across the State of New York by providing insurance on mortgage loans that encourages investment of capital by commercial and public lenders.

This position is responsible for contributing to the success of HCR by actively managing its portfolio of policies in force for eligible multifamily and single-family loans. The SVP will also actively oversee and direct investment of eligible MIF reserves in its accounts to meet the mission, goals and objectives of the Agency.

DUTIES AND RESPONSIBILITIES:
The SVP will report directly to the Commissioner/CEO and will be responsible for managing a professional staff and liaising with insured mortgagors or their servicers regarding insured mortgage loans and work-outs of distressed loans. Other responsibilities include supervising the underwriting of applications for mortgages insurance, presenting to-be insured loans to SONYMA’s Board, and reviewing MIF commitments to insure. The SVP will also be responsible for timely preparation and submission of annual budget requests, reviewing Treasury’s investment of MIF’s insurance reserves and calculating MIF’s excess balance, if any and working with Division of Budget on the allocation of excess balance funds and reserves as provided for in the annual State budget.

The SVP will ensure maintenance of relationships and provision of information to Moody’s to maintain MIF’s Aa1 rating. Additionally, this role chairs the Agency’s credit committee.

The MIF employs a staff of approximately 11 people who staff its legal, underwriting, and servicing units.

WHO YOU ARE:

• 10 years of specialized experience
• Familiarity/experience with underwriting multifamily and single family mortgage loans
• Proven track record establishing credit risk policies and risk mitigation systems
• Excellent analytical, management and communication skills are essential
• Ability to foster collaboration between different stakeholders
• Positive, pragmatic approach to problem resolution
• Demonstrated ability and willingness to be part of, and invest in, a team

This job description is not intended to be all inclusive and the employee will be expected to perform other reasonably related duties as assigned.

WHAT WE OFFER AT NYS HCR:

• Extensive benefits package including paid leave, including excellent health, dental, vision and retirement benefits with the New York…