Housing Authority of the City of Los Angeles Development Services – Bond Unit
DOWNLOAD COMPLETE DESCRIPTION
The Assistant Project Manager (Capital and Debt Unit) is an at-will position reporting to and receiving general direction and guidance from the Bond Officer, Director of Development Services, and/or the Chief Strategic Development Officer.
The incumbent will be primarily responsible with assisting the execution and/or monitoring of HACLA’s conduit bond issuance program, internal debt issuance programs, acquisition finance program, debt portfolio management, debt credit ratings, reporting and compliance requirements and all related work assignments as needed. The position is also responsible for the coordination and liaison with outside bond counsel, tax counsel, consultants, municipal advisors, internal legal staff, state agencies, local entities, and various affordable housing developer and financing teams. As part of their responsibilities, the incumbent will need to interface with HACLA’s Development Services, Legal & General Services, Finance, and Asset Management Departments and, as necessary, the Executive Office.
Examples of Duties / Knowledge & Skills
NATURE OF WORK
Under general direction, assists with all conduit bond transaction and other debt, credit and portfolio management responsibilities on behalf of HACLA or its affiliates. The nature and scope of the position includes, but is not limited to, assembling developer applications; performing developer and project due diligence; reviewing legal documents, including project loan agreements, funding loan agreements, tax certificates, regulatory agreements, ground lease agreements, DDAs, purchase offer agreements, right of first refusal agreements, partnership agreements, subordination agreements, co-lender agreements, disclosure documents; developing schedules and tickler systems; developing financial models; performing credit analysis that intersects credit rating agency methodology and criteria with HACLA’s current and future debt issuance capacity and multi-year strategic initiatives.
Assists with compliance and reporting responsibilities applicable to HACLA’s Housing Conduit Bond Policy, Debt Management Policy, Policy for the Acquisition of Real Property and other policies; assists with preparing all bond-related meetings and conference calls, building and monitoring a list of deliverables for each transaction, drafting board reports and resolutions for submission to the HACLA Board of Commissioners and HACLA instrumentality non-profit boards; assists in the initiation, solicitation, execution and monitoring of contracts to procure the services of professional service providers necessary for the success of the bond programs; proactively identifies, performs and documents the timely fulfillment of HACLA’s debt compliance responsibilities relative to all regulatory requirements, including refinement of internal procedures to ensure conformity and compliance with federal, state and local regulations.
Essential and other important responsibilities and duties may include, but are not limited to the following:
Minimum qualifications & Requirements
Education – BA/BS in Business, Finance, Urban Planning, Economics, Public Policy, Engineering or related.
Experience – Minimum of three (3) years’ experience with: (i) a public entity and directly engaged in all aspects of the issuance of municipal tax-exempt and/or private activity bonds; (ii) a nationally recognized credit rating agency and engaged as a municipal sector credit analyst; or (iii) a major credit banking/financial institution and engaged as a credit banker/credit analyst covering one or more sub-sectors of the municipal industry. Must demonstrate knowledge and expertise gained from conducting exceptionally detailed reviews and assessments of legal and operating documents, while factoring credit risk profile, credit rating agency criteria, and debt portfolio composition and constraints.
Master’s Degree in Business, Finance, Urban Planning, Economics, Public Policy, Engineering or related.
Demonstrable experience as a debt & credit analyst or banker within a large commercial bank, major ratings agency, investing institution, asset manager, or the debt issuance/portfolio unit within a major public entity.
Graduation from a credit training program conducted within a nationally recognized credit rating agency or a nationally recognized banking/financial institution.
Full-time, hands-on experience working with the regulations and procedures of CDLAC and TCAC (or equivalent agency in another state), whereby the candidate has attained material knowledge about the financing of housing or public infrastructure through the use of Private Activity Bonds (PABs) and/or Low-Income Housing Tax Credits (LIHTCs).
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