Affordable Housing Program – Assoc.

Company: Federal Home Loan Bank of San Francisco

Location: San Francisco, CA

Job Function: Community Outreach


About Us:

The Federal Home Loan Bank of San Francisco is a cooperative, wholesale bank that helps meet community credit needs by providing readily available, competitively priced credit products and services to member financial institutions through all phases of the economic cycle. Our members include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions headquartered in Arizona, California, and Nevada.


Perform reviews of affordable housing projects awarded funding through the Federal Home Loan Bank of San Francisco’s Affordable Housing Program (“AHP”) to determine eligibility within program guidelines and regulatory requirements. Consult with and provide expertise on community investment programs and affordable housing compliance issues to Bank management, members, prospective members, community partners, and the Federal Home Loan Bank System.

The Federal Home Loan Bank of San Francisco is an Equal Employment Opportunity employer and is committed to a diverse workforce. We value and actively seek to recruit, develop, and retain individuals with varied backgrounds and experiences reflecting the full diversity of the communities that we serve.  It is the policy of the Bank to comply with all applicable laws concerning the employment of persons with disabilities


Primary Responsibilities:

AHP Project Support

  • Analyze development and operating budgets of AHP projects to confirm feasibility and need for AHP funds. Work with awardees to collect and review limited partnership agreements, loan documentation, cost certifications, and other documentation to assess risk of releasing funds and approving award disbursements. Review project compliance with regulatory requirements and Bank guidelines.

  • Manage the timely receipt and accurate representation of information required for confirming project eligibility. Maximize process efficiency and work quality. Manage database information to ensure accurate and timely updates of project status. Assemble and annotate relevant documentation for review by management, internal audit, and federal regulators.  

  • Monitor project progress towards completion within program time limits and work with members and project owners to recycle unused funds.

  • As needed, assist in reviewing project compliance with regulatory requirements and Bank guidelines on completed AHP projects.

AHP Application Support

  • Score, evaluate, determine eligibility, financial feasibility and need for subsidy of applications submitted in the annual competitive application rounds. Recommend applications for approval.

Technical Assistance and Outreach

  • Provide technical assistance and outreach to members and community partners, including individual project guidance and conducting application webinar trainings. Participate in and assist in planning Bank-sponsored webinars, workshops, conferences, or other events. Actively represent the Bank at meetings, public speaking engagements, and community-sponsored events.

  • Assist in the production of various publications that the Bank is required to produce such as the AHP website and the Bank’s Targeted Community Lending Plan.

Other Community Investment Support

  • As needed, support administration and operations for other programs within the Community Investment Department, including economic development and down payment assistance grant programs.

  • Collaborate with the operations and technology teams to support the Bank’s objective to modernize the department’s technical tools, including performing testing of functionalities and data validation.

  • Support the development and implementation of any potential new community investment programs in the future.

Special Projects

  • Assist the Bank in achieving its mission-related goals, including research into potential community investment programs, scoring criteria, program design, and work related to fulfilling the Bank’s Community Lending Plan initiatives.

  • Conduct research as needed. Present and recommend program ideas and research findings to senior management. Maintain the integrity of research data through careful, logical, and resourceful review and assembly of available information.

  • Assist the Bank in the process of developing or modifying policies and procedures to keep up with the evolution of the affordable housing industry and complementary housing programs

  • Conduct project site visits, as necessary.   



  • Bachelor’s degree in community development, urban planning, business administration, finance, or a related field, or equivalent education or professional experience required.

  • Minimum two years’ experience in community investment, lending, affordable housing finance, affordable housing development, affordable housing asset management, affordable housing property management, or loan processing within a financial institution or affordable housing nonprofit preferred. Familiarity with affordable housing financing structures and loan documentation desired.

  • Demonstrated project management skills including the ability to take initiative in a fast-paced work environment and work effectively to manage multiple and sometimes competing deadlines, both independently and as a member of a team.

  • Demonstrated ability to effectively and proactively communicate with all levels of an organization including external clients, internal management, and team members.

  • Demonstrated knowledge of affordable housing development, regulations, and policy: public and private financing sources available, the Low-income Housing Tax Credit Program, project-based rental assistance, other public grant programs, etc.

  • Demonstrated knowledge of finance and financing structures: must be familiar with loan documentation; must be able to analyze sources of financing, operating and development budgets, and statements of cash flow; must understand the basics of retention and recapture mechanisms (subordination arrangements, silent second notes, and lien positions).

  • Attention to detail and ability to review and organize documentation clearly and thoughtfully.

  • Ability to operate PC-based software (Excel, Outlook, Word) and/or automated database systems.

  • Excellent verbal and written communication skills with strong analytical and problem-solving skills.

  • Ability to analyze, apply, interpret, and communicate policies, procedures, and regulations effectively.

Compensation and Benefits

SALARY RANGE: $105K – $115K


We believe our employees are our most important asset.  In addition to competitive compensation, we offer a variety of benefits, including medical, dental, vision, life insurance, 401K with match, Cash Balance Retirement Plan, 20 days of paid vacation, 10 paid holidays, 12 days of sick time, time off to volunteer, commuter programs, and access to our on-site gym.

How to Apply–AHP–I–Sr-Assoc_REQ1346