Director of Community Investment
Company: Massachusetts Housing Investment Corporation
Location: Boston, MA
Job Function: Business Development
MHIC is an innovative financier of affordable housing and community development throughout New England, providing financing that would not otherwise be available to neighborhoods most in need. For over 32 years, MHIC has invested more than $3.2 billion to help create and sustain healthy, equitable communities where people, businesses, and organizations can thrive. Supported by an experienced and dedicated staff, MHIC excels in problem solving, with rigorous underwriting, attentive asset management, and timely reporting to investors. To date, MHIC has financed 658 developments, representing more than 25,500 homes and 6.9 million sq. ft. of community and commercial space. Visit www.mhic.com or LinkedIn and Twitter for more information.
Massachusetts Housing Investment Corporation (MHIC) seeks a skilled and motivated professional to join our team as Director of Community Investment. Reporting to the President and CEO, the Director of Community Investment is responsible for managing the Development Department through which MHIC conducts its equity investment and lending businesses. Functions of the department include product development, marketing, technical assistance, acquisition, underwriting and closing. As a key member of the management team, the Director of Community Investment participates in deliberations and decisions related to the strategic direction of the company. The Director of Community Investment manages nine staff members and is a member of the leadership team at MHIC. The position is located in Boston, MA and this is a hybrid role.
Our ideal candidate will be:
- A thoughtful and thorough communicator who is passionate about and can promote MHIC’s products and services with a variety of customers and stakeholders.
- A driven and entrepreneurial team player who can collaborate to identify gaps in the community development finance ecosystem and lead the development of products and programs to meet those needs.
- A flexible collaborator excited about working with internal and external partners and stakeholders.
- Market MHIC’s equity and lending programs, review and pursue lending and equity investment business opportunities.
- Allocate staff resources and oversee work progress.
- Lead and support a professional staff.
- Review pricing, lending and investment terms, and REI efforts.
- Manage internal and Committee and Board approval process.
- Ensure interdepartmental cooperation in transitioning a project from underwriting to portfolio management after the transaction is closed.
- Participate in the development of annual business plan and budget.
- Lead new product development.
- Nurture relationships with project sponsors and potential investors.
- Participate in company-wide policy & procedure development.
- Collaborate with CFO, Director of Capital Development and Director of Asset Management to ensure efficient and effective conduct of MHIC’s business.
- Support public policy initiatives related to MHIC’s mission.
- Trains and supports staff in providing technical assistance to project sponsors and financing partners.
- Manage consultants as necessary.
- Establish department goals as well as performance goals to be achieved by each staff member.
- Ensure adequate staff training and development.
- Represent MHIC in industry groups, at conferences and on panels.
Supervision: Minimal required.
An undergraduate degree is required. A graduate degree is desired. A minimum of 10-15 years of professional experience in affordable housing and community development finance, including tax-advantaged real estate investment is required. Broad managerial acumen, excellent communication skills and demonstrated business development skills.
Compensation and Benefits
MHIC offers a professional, supportive working environment with competitive salary, health and retirement benefits, plus educational and training opportunities.
How to Apply
Please submit a cover letter, detailing your qualifications for this position, along with a resume to: firstname.lastname@example.org and copy email@example.com with Director of Community Investment included in the subject line. Principals only. No phone calls, recruiters, or staffing firms please!