What are the responsibilities and job description for the Senior Financial Analyst position at CINCINNATI METROPOLITAN HOUSING AUTHORITY?
SCOPE: The Senior Financial Analyst will play a pivotal role in supporting the financial aspects of development projects during the project life of affordable and Low-Income Housing Tax Credit (LIHTC) transactions from the time a property is under contract and/or Letter of Intent, through the time when all development funds have been disbursed. This position will report directly to the Development Director.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
The below statements are intended to describe the general nature and scope of work being performed by this position. This is not a complete listing of all responsibilities, duties and/or skills required.
• Assist with coordination of project management goals of multiple affordable housing transactions by analyzing LIHTC and other affordable housing funding programs to determine new development project feasibility, both RAD and non-RAD;
• Prepare Sources & Uses and Operating Proformas for affordable housing finance applications (LIHTC 4% & 9%, FHLB AHP);
• Assist in gathering ancillary documents needed for lenders;
• Order and critically review third party reports for development projects;
• Coordinate market research and market studies;
• Correspond with owners and brokers to gather due diligence;
• Track project status, coordinate meetings, track deliverables both internally and externally;
• Support and may oversee progress of seller, buyer and lender due diligence checklists;
• Review and analyze legal documents, financial reports and operating plans as part of the due diligence process;
• Assist Development team and Property Management team in analyzing past operating expense of public;
• housing units in order to build sustainable financing plans to be used in evaluating and underwriting projects for other types of RAD conversion and funding applications (ie. Non-RAD TPV/PBV);
• Assist other Development team members to provide historical operating expense information and analytics in order create Operating Proformas and defend in underwriting processes;
• Assist in Yardi conversion regarding information needed for Development reporting Pre-Development and Post-Closing;
• Provide quarterly update to CMHA Real Estate Schedule of Values for lenders (includes financial information and vacancy rates for all public housing and component units);
• Coordinate providing rolling rent rolls by property for appraisals and underwriting process;
• Acts as liaison between Development and Finance departments to ensure GAAP recording of financial transactions at financial close of all mixed-finance (non-RAD) and affordable development (RAD)projects, as well as during development and conversion to occupancy;
• Member of management team supporting in the coordination of annual external audits and agreed upon procedures for public housing, as well as cost certifications and tax return compliance for mixed-finance entities and affordable housing;
• Manages the coordination and assembly of funding draw requests during construction, ensuring adherence to approved project budget, obtaining funding approval of financial partners and overseeing facilitation of funds release to ensure timely payment of project costs and issuance of IRS Forms 8609;
• Manages operating subsidy distribution for public housing units included in mixed-finance entities and calculates RAD Initial Year Funding for projects;
• Reviews Lincoln/Laurel public housing capital improvement requests from Management Company for approval within Replacement Reserve funding guidelines;
• Analyzes monthly financial statements for Lincoln/Laurel phases; and
• Perform additional duties as assigned.
