Vice President of Finance

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 Vice President of Finance (RD) to join the expanding Finance team and will 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 Executive Vice President.

This position will support the execution of the Company’s multi-family affordable development platform (new construction, rehabilitation, mixed-use, and Rural Development (“RD”)) by overseeing a team of Directors and Analysts who are responsible for underwriting development opportunities, sourcing and securing debt, equity, and other funds, interfacing with internal and external partners, tracking and reporting on the status of transactions within the pipeline, and closing of real estate transactions. 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. The Vice President of Finance will be responsible for managing a team of Financial Analysts, Directors, and Project Accountants.

Primary Duties and Responsibilities:

• Project Finance:
• • Support the execution of the multi-family affordable development platform by leading all efforts related to underwriting, financing, and closing projects
  • Utilize a deep understanding of various financing products to guide team decision-making and generate highly efficient capital stacks across all project types
  • Lead efforts to raise debt and equity by maintaining relationships with lenders and investors, negotiating terms, and reviewing loan and partnership agreements
  • Review detailed project and portfolio level financial models for a variety of project types, serving as the ultimate source of quality control for financial models
  • Ensure the Finance Team is accurately tracking and reporting pre-development costs, cash needs, and income projections for all projects to help inform corporate-level financial reporting and projections
  • Enforce established standard operating procedures and implement process improvements across the platform
  • Oversee the preparation of closing draws, facilitate project financial closing and funding requests; review closing statements for accuracy
• 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
  • Collaborate with financial analysts, developers, project managers, and other stakeholders to provide financial insights and support
• Team Leadership: 
• • Lead and mentor the assigned Directors and Analysts, providing guidance and support in their professional development
  • Foster a collaborative environment that encourages continuous improvement and innovation
  • Identify and implement process improvements to enhance the efficiency and effectiveness of the Finance and Underwriting functions
  • Stay updated on industry trends and best practices in affordable housing finance
  • Ensure individual and departmental goals and objectives are achieved

Experience, Skills, and Abilities Required: 

• Bachelor’s degree in accounting, business, finance, real estate, mathematics, or a related field; Master’s degree plus
• Minimum of (7) years of progressive 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 of multi-family affordable projects; prefer at least (3) years in a leadership role
• Exceptional financial modeling skills with the ability to create, update, maintain, understand, and audit complex financial models using Microsoft Excel (advanced levels)
• 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 working on projects financed with USDA Section 515 direct loans and/or Section 538 guaranteed loans is preferred
• 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
• Ability to lead a team, develop individuals, and provide effective feedback is required
• 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 towards positive outcomes
• Strong personal standards and values consistent with HHAD’s core values (entrepreneurial, integrity, caring, and excellence)

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

At Harmony Housing Affordable Development ('HHAD'), 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.