Director, Construction Risk Management (Affordable Housing Finance)

About Us:

The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities, and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.

Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.

As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.

Role Summary:

The Director of Construction Risk Management will provide oversight and guidance to CPC’s construction lending activities for affordable housing projects located mostly in the upstate NY region. The Director will work with the company-wide lending teams and will be responsible for providing expertise regarding compliance guidelines, procedures, and policies related to construction lending risk. The qualified candidate will assess and make recommendations to mitigate construction risk on individual projects as well as on a portfolio-wide basis.

What You’ll Do:

• Oversee CPC’s third-party inspecting engineers and architects: select consultants, establish and communicate requirements and expectations, ensure ongoing quality and compliance with established CPC requirements

• Review construction related information at loan commitment, during construction and at loan conversion, in accordance with CPC Credit Policy.

• Communicate with borrowers, contractors and architects to identify and assess potential and ongoing issues, risks and mitigates that impact project budget and completion schedule, making appropriate recommendations to mitigate risk

• Prepare Pre-Construction and Post-Construction Analysis Reports, in compliance with CPC guidelines, providing a narrative summary, including property and site description, development team’s qualifications, adequacy of budget and schedule, environmental issues/resolutions, seismic issues/resolution and any other outstanding issues/resolutions as well as all material change orders ensuring that the revisions do not negatively impact the completion/marketability or on-going operational costs of the Property

• Review of monthly construction status reports and construction documentation

• Review Property Condition Assessment reports to advise of condition, overall quality and any on-going operational costs of a property that is under consideration for loan funding.

• Provide training seminars to internal and external clients on construction risk guidelines, procedures and policies

• Perform administrative duties related to construction portfolio management and documentation, as necessary.

Skills and Experience:

• 10 years of experience and demonstrated knowledge of building materials and design, construction processes and documentation, cost analysis and project scheduling for both agency level and non-agency level construction projects

• A professional background or accredited degree in the field of engineering, architecture or construction management is preferred

• Minimum 5 years’ experience in a construction lending environment, and/or representing construction lenders, with significant responsibility managing construction risk

• Strong Word, Excel, and PowerPoint skills

• Strong interpersonal and written and verbal communication skills

• Ability to manage multiple projects and to prioritize a varied workload

• Must be a self-starter, team player, yet also able to work independently.

What We Offer:

• Competitive compensation

• 401(k) retirement plans with employer match

• Medical, dental, and vision benefits for employees and their dependents

• Commuter benefits

• PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability

• Tuition assistance program

• Two “work from anywhere” weeks per year

• Summer Fridays

• Collaborative working spaces

• Service days to support our communities

• Employee development and engagement events

• More about our offerings and culture here

This is a hybrid role where you will work from the Manhattan office two - three days a week. The salary range is $155,000 - $170,000, dependent on experience.

Applicants must be authorized to work in the United States. The Community Preservation Corporation does not provide employment sponsorship of any kind. Candidates are responsible for ensuring they meet all minimum qualifications for the position at the time of application.

The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.