SVP/Director of Mortgage Insurance Fund

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 homeownership 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

• Master’s degree preferred

• 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 (https://www.osc.state.ny.us/retirement) with the New York State & Local Employees’ Retirement System.

• Promotional opportunity for dedicated professionals.

• Work life balance benefits include a 37.5-hour work week and paid time off benefits including vacation, sick, personal days, and Federal Holidays.

• Opportunity for compressed scheduling.

• 12 weeks of Paid Parental Leave.

• Paid Family Leave.

• Opportunity for compressed/flextime scheduling.

• As a New York State employee, you may qualify to participate in the Federal Public Service Loan Forgiveness Program (https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service) (PSLF). The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under an accepted repayment plan (https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service#qualifying-repayment-plans) and while working full-time for an eligible (https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service#qualifying-employment) employer.

Additional SONYMA/HFA/AHC Benefits:

• Cash in for Wellness! This program provides you with the option of buying or renewing a health club membership of your choice or enrolling in a weight loss and or smoking cessation program, using your sick leave accruals.

• Tuition reimbursement program – for job related and non-job-related courses.

• Vacation Leave Buy-Back program – Subject to approval, every year eligible employees may exchange previously earned and accrued vacation time in return for cash compensation (at employee’s daily rate of pay at time of exchange).

• Access to Plum Benefits – savings on movie tickets, theme parks, hotels, tours, Broadway shows and more!

• Optical reimbursement program – Employees are eligible for optical, hearing aid, and podiatric expenses not otherwise covered by insurance, with a maximum aggregate amount of $650 per year, per family. Unused yearly balances may be carried over to next year for a maximum of $1,300.

ABOUT NEW YORK STATE HOMES AND COMMUNITY RENEWAL:

Under the leadership of Governor Kathy Hochul and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State’s housing resources. We have offices in New York City, Albany, Buffalo, and Syracuse, and employ a diverse workforce of professionals who are hard-working and committed to serving low- and moderate-income families. Our mission is far reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders.

Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, construction, finance, law, and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical, and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement, and family-friendly policies.

New York State is an Equal Opportunity Employer (EOE)