Financial Analyst - Rural Development

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Our mission is to positively impact communities by creating and preserving quality affordable housing for low-wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner and operator of affordable housing.

Our fast-growing organization is currently seeking a detail-oriented and experienced Financial Analyst (RD) to join the expanding Finance team and be an integral part of the growth of HHAD’s affordable housing development business. The ideal candidate will be responsible for managing the financial aspects of affordable housing projects, ensuring compliance with regulatory requirements, and providing accurate financial reporting to stakeholders. This position works in close coordination with HHAD’s Accounting, Business Development, Construction, Development, and Executive teams and is based in our Raleigh, North Carolina office, reporting to the Director of Finance and/or Vice President of Finance.

This position will support the execution of the Company’s Rural Development (“RD”) platform by performing financial analyses of acquisition-rehabilitation redevelopment opportunities, preparing appropriate documents to facilitate and to complete the underwriting and closing of real estate transactions, interfacing with internal and external partners, as well as tracking and reporting on the status of transactions within the pipeline. This position requires a great deal of autonomy and accountability, along with strong experience in financial analysis, low-income housing tax credits, critical thinking and problem-solving, negotiating, networking, and teamwork.

Primary Duties and Responsibilities:

• Project Finance:
• • Support the execution of the RD platform by leading all efforts related to underwriting, financing, and closing large-scale portfolio redevelopment transactions
  • Collaborate with a cross functional Project Team (Finance, Development, and Construction) to successfully execute on multiple portfolio redevelopment projects at a time
  • Facilitate the collection, organization, review, and analysis of financial due diligence materials
  • Prepare, update, and maintain detailed project-level and portfolio-level financial models using Excel macros and various data analysis techniques
  • Prepare financial analyses and supporting materials for presentations to senior leadership, Investment Committee, external development partners, and other stakeholders
  • Provide regular status reports on projects to senior leadership
  • Monitor and drive project schedules to ensure financial milestones are achieved as scheduled
  • Track pre-development costs and cash needs for assigned projects
  • Collaborate with Development Team members to prepare and review RD Preliminary Assessment Tools (PATs), USDA 515 Loan Transfer Applications, USDA 538 Loan Guaranty Applications, as well as LIHTC, tax exempt bond, and other financing applications to ensure accurate applications packages are submitted on time
  • Work closely with the senior team members to raise debt and equity by preparing investment packages, soliciting proposals from potential lenders and investors, responding to questions, and negotiating terms
  • Prepare closing draws and facilitate project financial closing and funding requests; review closing statements for accuracy
  • Assist in monitoring project budgets, ensure development sources and uses remain balanced, and provide insights into cost management and financial performance
  • Prepare ad hoc financial analyses as required for assigned projects
• Regulatory Compliance:
• • Ensure continuous adherence to local, state, and federal regulations (including state QAPs) related to affordable housing financing and reporting
  • Review project partnership and financial documents and ensure funding terms and conditions are consistently maintained
• Stakeholder Engagement:
• • Effective and timely communication with bank representatives, lenders, investors, housing agencies, market analysts, appraisers, auditors, clients, and other external deal participants
  • Establish, cultivate, and maintain strategic relationships with potential and existing partners, brokers, institutional and equity partners, owners, lenders, and other key stakeholders in various markets
  • Lead meetings with external clients, financial partners, as well as government agencies and pertinent officials as may be needed

Experience, Skills, and Abilities Required:

• Bachelor’s degree in accounting, business, finance, real estate, mathematics, or a related field
• Minimum of two (2) years of professional experience with a successful track record in real estate development, real estate finance or low-income housing tax credit syndication, with an in-depth understanding of real estate fundamentals and transaction structuring
• Experience working on projects financed with USDA Section 515 direct loans and/or Section 538 guaranteed loans is required
• Exceptional financial modeling skills with the ability to create, update, maintain, understand, and audit complex financial models using Microsoft Excel (advanced levels)
• Ability to create and use VBA Macros to efficiently update a high volume of Excel financial models
• Experience reviewing real estate financial information (operating statements, rent rolls, audits, loan documents, etc.); ability to process information including gathering, assessing, coding, organizing, auditing, and verifying data
• Experience in advanced multi-family real estate underwriting with LIHTC and tax-exempt bond financing, FHA mortgage insurance programs, as well as Agency debt products (Fannie/Freddie), and familiarity with other affordable housing funding programs and compliance regulations
• Demonstrated excellent analytical, problem-solving, and decision-making skills
• Ability to recognize and mitigate investment risks
• High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrable ability to successfully manage multiple projects and successfully work under pressure of strict deadlines.
• Excellent written and oral communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts in writing and verbally.
• Strong financial and analytical skills, as well as advanced computer skills (Microsoft Office Suite, Adobe, SharePoint, and SmartSheet and other similar programs
• Ability to handle daily responsibilities and projects with minimal direction, while also working in close collaboration with a team to provide solutions where needed
• Ability to maintain a “big picture” focus while attending to very detailed work and providing thorough documentation
• Resourceful, flexible, and maintain the ability to react and respond quickly toward positive outcomes

A satisfactory background check will be required as part of the selection process

At Harmony Housing Affordable Development, we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build an inclusive work environment that celebrates differences and empowers all individuals with opportunities to channel their entrepreneurial spirit. HHAD is an EEO employer.

This job description is not inclusive of all responsibilities, skills, requirements, efforts, or working conditions associated with this position. While this job description is intended to be an accurate reflection of the current position, management reserves the right to modify the position or to require that other or different tasks be performed when circumstances change. This job description replaces all previous descriptions for this position.